Amulet
For a long time and for a lot of us, "college" was more or less a synonym for success. We had only to go. We had only to graduate. And if we did, according to parents and high-school guidance counselors and everything we heard and everything we read, we could pretty much count on a career, just about depend on a decent income and more or less expect security. A diploma wasn't a piece of paper. It was an amulet.
Yes, many of the sorts of service-industry jobs now available to people without higher education are less financially rewarding than manufacturing jobs of yore, and so college has in that sense become more imperative. And, yes, college graduates have an unemployment rate half that of people with only high school degrees.
But that figure factors in Americans who got their diplomas and first entered the job market decades ago, and it could reflect not just what was studied in college but the already established economic advantages, contacts and temperaments of the kind of people who pursue and stick with higher education.
Word of the day: Amulet.
The Imperiled Promise of College
Student loans are just a piece of the puzzle of higher education.