Is America losing confidence in college?

An exclusive preview from the latest issue of The Week magazine If you have trouble viewing this email, [read the online version](. NEWS In this issue of The Week --------------------------------------------------------------- Dear newsletter reader, we thought you'd appreciate this special preview from the latest issue of The Week magazine, where you'll find everything you need to know about the most important stories in news, business, technology, and culture. Today's preview comes from the Making Money section. If you like what you read you can 6 Risk-Free issues of The Week](. Education: Americans lose confidence in college [The Week cover]( college graduates are entering the "worst job market in decades," said Jeffrey Selingo and Matt Sigelman at The Wall Street Journal. "Hiring for entry-level college-graduate positions has fallen 45 percent," likely hastening doubts about the value of college that have been building for years. According to Gallup, "the number of Americans who consider higher education 'very important' has fallen nearly 20 points since 2013." Americans simply don't see the return on their investment, and colleges themselves aren't helping. The same survey found that 78 percent of new grads never even bothered with their college's career office. It's the job of schools to help students identify more fruitful career pathways. For example, "a psychology major who acquires data-analysis skills through research or internships can unlock more than 100,000 additional entry-level jobs paying on average $60,000, versus $39,000 for psychology majors overall." College enrollment usually increases during recessions, said Catherine Rampell at The Washington Post. Not this time. "College completions and new enrollment have plummeted" since the start of the pandemic, particularly among "Americans who could financially benefit most from education and training." The further down the economic ladder you go, the worse the decline. The number of high school seniors completing the federal student aid application is down 10 percent overall, and as much as 15 percent at high schools with minority students. There's an even sharper drop-off — 30 percent — in enrollment by first-time students over age 24, who are "presumably those most likely to be switching careers." Reskilling was a reason enrollment "swelled at two-year schools" during the last downturn, said Lawrence Lanahan at Hechinger Report. A decade later, community college attendance figures are cratering. Remote instruction has "worn out its welcome for many," and others are finding that the financial pressures of the pandemic are getting in the way. Fear of the college bill is often exaggerated, said Ron Lieber at The New York Times. The "sticker price" at some state schools has now "crossed the $100,000 barrier for four years." But that's not what most people pay. "According to the College Board, the net tuition (after aid and various discounts) and fees that first-time full-time undergraduates paid this school year was $3,230 at public colleges and universities and $15,990 at private ones," not including room, board, travel, and books. A college education "remains America's single greatest determinant of socioeconomic advancement," said Christopher Callahan, president of the University of the Pacific, in the San Francisco Chronicle. "Gen Z students, often derided as overly sensitive, fragile 'snowflakes,'" have faced obstacles no college students have ever encountered. Their response has given me "hope for the future of higher education." [Try 6 Risk-Free issues of The Week]( [The week Logo] Copyright © 2021 The Week Publications, Inc. All rights reserved.. You’re receiving this because you subscribe to or signed up to receive emails from The Week. To unsubscribe from these emails, click [here](. The Week Publications, Inc. Registered address: 155 E 44th St Fl 22, New York, NY, 10017-4100. Further information about how we use your data can be found in our [Privacy Policy](.