Robert Reich, President Clinton's secretary of labor and currently a professor at Berkeley, has posted a
commencement address. He titled it "the commencement address that won't be given." After you read it, you'll know why. [The following is censored. Be sure to read the original.]
He uses blunt language to describe the hurdles facing this years' college graduates:
1. Jobs - "you’re going to have a hell of a hard time finding a job. The job market
you’re heading into is still bad. Fewer than half of the graduates from
last year’s class have as yet found full-time jobs. Most are still
looking"
2. Salary - "But even when you get a job, it’s likely to pay peanuts.
Last year’s young college graduates lucky enough to land jobs had an average hourly wage of only $16.81, according to a new
study
by the Economic Policy Institute. That’s about $35,000 a year – lower
than the yearly earnings of young college graduates in 2007"
3. Career prospects - "But this parchment isn’t as valuable as it once was. So much of what was
once considered “knowledge work” – the kind that college graduates
specialize in – can now be done more cheaply by software. Or by workers
with college degrees in India or East Asia, linked up by Internet."
4. Debt - "In a few moments, when you march out of here, those of you who have
taken out college loans will owe more than $25,000 on average. Last
year, ten percent of college grads with loans owed more than $54,000."
5. Future - "If unemployment stays high for many years, if the wages of young college
grads continue to fall, if the costs of college continue to rise and
state and local spending per college student continues to drop, and if
the college debt burden therefore continues to explode – well, you do
the math."
He offers some thoughts we should all consider: "You see, a college education isn’t just a private investment. It’s also a
public good. This nation can’t be competitive globally, nor can we have
a vibrant and responsible democracy, without a large number of
well-educated people."
Reich is absolutely right, and that is the main reason it isn't good for my blood pressure when I hear the clever fools running legislatures in many states (including our own) talk as though it is only the students who are "customers" of education.
Balderdash!
To quote a former presidential candidate: "If you think education is expensive,try the cost of ignorance!"
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