Advice for the Undergraduate

A young college undergraduate recently asked me if a college education was really worth it anymore.  After all, my friend reasoned, the market is saturated with college graduates and many of those graduates are working menial jobs.  My friend said there was research to back his arguments and those researchers claimed debt incurred negated success achieved later.  They also claim a college degree is basically null in the current market.  I considered these arguments in depth and decided that they are based on granules of truth but lack an alternate route to success and any real message except "give up".  I find this message damaging and pessimistic, I hope to dig out the real answer to this dilemma.  So I’m about to put on my Dr. Laura hat and offer my opinion (as a recent college grad) of the value of higher education. 

I will concur that there was a time when a college education was a golden ticket to a high paying job.  Graduates could wave their diploma around and step into high paying management type jobs.  It is true that today that much labored for piece of paper doesn’t carry as much weight.  Employers will look at a degree and say that’s nice, we’re looking for a degree plus 5 years experience.  Let’s look at why this is the case. 

According to the Bureau of Labor and Statistics, in the month of July alone there were 143,703 separations.  During the previous year over 500,000 separations were reported.  Simple math dictates that this year’s rate is double the previous year’s with projections of over one million separations predicted by year’s end. 

These separations mean that there are literally hundreds of thousands of workers with education AND experience currently searching for jobs.  Economists say that, “College graduates entering the job market in 2009 and early 2010 will face more competition than we’ve seen since the Great Depression.”

The market IS saturated with college graduates, which is why it is more imperative than EVER to obtain an education.  I believe that many college students are approaching their education with an outdated attitude.  They expect to achieve success in life by obtaining their degree.  They show up to class, get good grades, and work a part-time dead end job just to pay bills.  Still more chose not to work at all and focus on just school alone.

College is 100% what you put into it.  It is not unreasonable to say that you can graduate with a degree AND applicable job experience.  Is the road easy? NO!  Will it be worth it? YES!  If I could offer a few pieces of advice to my young friend it would be this; limit debt incurred from student loans, develop a strong network while in school, and obtain applicable work experience while in school.

While it may take some extra work and ambition it is not impossible to obtain scholarships and work for most of your tuition.  Common advice when I was entering college was, get a student loan to pay for all expenses and focus on good grades.  I did this and ended up incurring a substantial debt because of it.  I will probably spend the rest of my adult life trying to pay it off.  Some debt will be necessary but my advice would be to seek options that will cost you the least while still offering a quality education.  Strategies to limit debt incurred from education are endless.

Next, develop a large and diverse network while in college.  That slippery haired biology professor with the strange research fascination with hermaphroditic amphibians is also a published and respected scientist.  Yes, he’s creepy but a referral from him could greatly improve your chances of getting into med school or open doors to lucrative careers you had never previously considered.   Remember that old saying “it’s not what you know, it’s who you know.”  Don’t be fooled into thinking that good grades are good enough, they’re not.

And lastly start NOW by building your work experience.  This is a transient and opportune time of life.  Seek out opportunities for employment in a field closely related to where you want to eventually go.  Many companies offer tuition reimbursement as part of their benefits package, so you can accrue applicable experience and fund your education with on fell swoop.  Remember that not all resume-building experiences are paid opportunities, search out volunteer opportunities, internships, set up job shadows and find a current professional willing to mentor you.  Get to know professionals working in your career of interest, connections you make now will open doors for career opportunities later. 

The current economic climate has made higher education a necessity instead of a golden ticket.  Consider your education as an important ingredient in the recipe of success.    Unemployment rates are staggering, and are continuing to trend upward. My advice would be to afford yourself every opportunity for success possible by pursuing and achieving a higher education.