There is a pervasive anxiety in America about the future of higher education. Spiraling costs combined with seismic changes in the American workplace raise questions about whether a bachelor's degree is still worth the cost. In a recent cover story, Newsweek magazine asked: "Is College a Lousy Investment?" For a growing number of Americans, the answer appears to be yes.
Today's students accumulate an average of almost $30,000 in debt by the time they graduate. They will go into a job market that looks especially bleak for young people. Many college graduates are unemployed or working minimum-wage jobs. Still more are working in jobs that don't require a college credential.
Some of the troubles facing new graduates can be attributed to the post-recession economy. But there are larger forces at work that are transforming the nature of employment in America -- forces that colleges and universities have been slow to recognize, much less respond to.