Education blob advocates have long told us that the country benefits from higher “attainment” in education. In other words, the more years students spend taking classes, the better their lives and the national economy will be.
Therefore, it’s cause for concern that fewer students are now pursuing graduate degrees, right? We’ll fall behind other countries!
Don’t worry, says Sophia Damian in today’s Martin Center article.
She writes:
Why this decline? It seems as though more and more college graduates, like numerous high schoolers regarding college, have adopted the view that graduate school simply isn’t worth it. This diminished interest can be explained by a number of factors.
For one thing, the labor market is fairly tight, which means that the opportunity cost of staying in school rather than going into the labor force is higher for many young people. Another is that Americans have realized that there are other options for those who want or need some additional study after getting a bachelor’s degree, options that are more relevant and useful.
She concludes, “Universities, as expected, are worried about declining interest in their many graduate programs; yet, for college graduates, the financial and career benefits of lower grad-school enrollment rates are undeniable.”