Class of 2020 and 2021 college grads, anxious to shop their abilities amongst employers, will confront a complex labor market post the 2020 COVID-influenced economic meltdown. As Class of 2021 graduates emerge from the chrysalis of college, seeking entry into the professional class, they may instead queue up behind the 45% of their Class of 2020 peers who are still…
The law of supply and demand dictates that when prices rise, demand shrinks. Yet, demand for college education post-WWII seems to be inelastic (meaning that demand does not seem to react to increases in price), has only increased, despite the four-digit increase in tuition and costs that has been leveraged to the tune of $1.7 trillion in student loan debt…
As the numbers of diagnosed COVID cases wanes and more Americans are being vaccinated, the desire to re-open schools seems to be increasing. In a recent Pew Research poll, more Americans believe that students need in-person interaction to continue their academic progress: Yet, in the same poll, 59% of respondents also believe schools should wait to reopen until all teachers…
Since March 2020, nearly 37.4 million people, or 90% of all student loan borrowers, stopped making payments under the loan forbearance provisions of the CARES Act. Additionally, all student loan interest has been suspended for the past eight months. However, since the current $900 billion stimulus bill does not extend the forbearance of student loans, the 42 million US borrowers,…
As regular readers recall, the news about stagnant American household median income is not a new story, more of an evolving story about how more American middle class families are adjusting to life with less income. Lifestyle adjustments are just one possible shift in American households. More often, I’m hearing parents ask questions about how to say, “No” to their…
More Americans believe that going to college is NOT an affordable option.
Financial security, or the promise of lifetime employment, is often a reason for choosing to attend college. However, recent income and employment trends may give college-bound students pause to further contemplate their expectations of job security with a college degree. 44% of today’s college graduates are underemployed, meaning they don’t need a college degree for their current jobs, according to…
As the chart shows, 18% of college graduates are currently living with their parents. In addition, unemployed college graduates are more likely to live at home (45% vs. 29%),
