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(London.CityRegions.com, May 18, 2013 ) London, UK -- According to a new study, having a college degree may not hold enough worth to handle the expenses and headaches that come with it.
Nearly half of all four-year college graduates are currently holding jobs that require no bachelor's degree. The numbers come from a recent McKinsey & Co., which asked 4,900 individuals who recently graduated about their jobs held. Around a third of all college graduates stated that they did not feel that attending a university had prepared them for the realities of the working world. Nearly half stated that they would have chose a different school or major type if they could retake classes.
The study is only underscoring the general pressure for schools, which have been forced to be more open about the meager realities of the working place. The numbers are, in fact, the lowest since World War II, according to CNBC. All the while, many students are adding to their overall debt, with the average now sitting higher than $26,000 for a senior. The average heavily rises when one attends a school with higher considered worth.
The students are then required to work jobs that offer full-time hours, as higher pay is often held for those with experience. The combination of necessary full-time paid work to pay off debts, mixed with no time for internships with low or no pay, means many are then forced to work jobs below their capabilities. Often times the jobs are not even within the proper field of study for the graduate.
All of this is not to say there is no value to college education. The Los Angeles Times reported that those with a four-year degree make 84% higher wages over a lifetime, as compared to those with a high school diploma. A degree is also linked to more quality overall personal health, as well as greater economic mobility.
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