However, we have reached a point where we can no longer deny what is clearly before us.
>>
When Google Career Certificates can be earned in a shorter, more flexible time frame, for about the cost of a single college textbook, and can get you into some of the biggest companies in the world… you think better than the people are going to knock on that door.
Other big players like Netflix and Amazon have also entered the post-secondary space, asking the question: what is the future of higher education?
Well, that looks grim for traditional colleges and universities.
Debt
Now, more than ever, we need thinkers, scientists, ecologists and doctors. We need problem solvers. But the people we need most, we ask to be martyrs.
Save our world, but also incur $200,000 in debt to do it for us. Oh, and we’ll also pay you as an intern. K, thank you.
It’s not a level playing field
Do I need to remind you of the Lori Loughlin scandal? She’s not the only person shelling out big bucks ($500,000) to get her very low-skilled kids into schools like the University of Southern California. There was a whole documentarydescribing how this problem is rampant across the country.
Older generations have always been aware of this, but now that we live in the digital age, young students know it too. And they want nothing to do with this game where the odds are stacked against them.
Decrease in registrations
College enrollment was on a downward trend even before the pandemic. Schools like Harvard took a hit of over $400 million the year before Covid hit and this year it took about $700 million to hit.
This makes sense when students are faced with:
- Negative public opinions
- Dizzying debt levels
- Slow curriculum development
- Changing economies
- Alternatives to higher education
Graduates cannot find jobs
There is a myth that if you have a traditional college degree you will get a job. In fact, 53% of college graduates are either unemployed or in jobs that do not require a degree and do not pay enough to offset the debt the graduate incurred to complete their education.
I was a great example of this – when I graduated first in 2015 with an Honors Bachelor of Commerce majoring in real estate and housing, I worked in an hourly paid administrative office. I quickly decided that was completely ridiculous and set off on a trek through Central America.
Upon my return, I spent a tumultuous few years working with various teams and companies before going freelance. I’m lucky it worked for me, but it’s do not the case for most.
The future of education lies in investing in human capital. It simply means increasing your marketable skills in the job market. This is the easiest way to increase your income.
A college degree is one way of doing things, but we quickly realize that other ways will no doubt earn us more money, such as attending trade school, completing a certificate program, or taking technical training.
For example, in real-world learning, chefs spend 1 year studying for a master’s degree in Thailand, then 2 years for a master’s degree in France before earning a lot of money as a yacht captain.
Enter Google
Last year, Google launched professional certificate programs in:
- Data analysis
- Project management
- UX design
- IT support
They can be completed in 3 to 6 months for only $300 and require no prior experience or undergraduate degree.
“The blockbuster changes of 2020 are the entry of companies like Amazon, Google, and Netflix into the post-secondary education space, simultaneously blasting away the last vestiges of the two fundamental elements of the traditional higher education model: tuition and degree programs.”
Over the past year, Google has made it clear that it treats these certificates as the equivalent of four-year degrees. Aka, you actually have a very good chance of working for a tech giant.
Graduates also have access to CV workshops, career coaching, mock interviews and a partnership network with employers who are committed to hiring Google graduates. This includes huge corporations and entities like Bank of America, Intel, Hulu, and Snap Inc.
So, now do you understand my gist? This is an extremely enticing alternative to the traditional route.
Money, money, money
Of course, university degrees are still valid many valuable — but they are not accessible to everyone.
In reality, google says that 58% of those who pass its IT certificate identify as black, Latino, female or veteran and that 45% of enrollees earn less than $30,000 a year.
Google Lists a median annual salary of $63,000 for entry-level jobs and a maximum of $93,000 for graduates of the project management program.
To be frank, university degrees only have value according to the weight applied by the companies that hire them. Google just reported that a $300 certificate is the same value as a $30,000 degree over 4 years.
So, is there a future for higher education as we know it?
The resounding answer is no. #KhabarLive #hydnews
