In fact, the bottom 25% of bachelor's degree holders don't earn any more than the average American who stopped their education at high school. The picture isn't rosy even for those who complete a bachelor's, with 41% of recent graduates underemployed before the downturn, working in jobs that don't require their level of education and are often low-paying. Some 36 million Americans have some college education, but no credential - and many are saddled with debt. And the numbers are far worse for African American, Latinx and low-income students when you look at key demographic segments. A third of those who start at a public four-year institution haven't completed their degree six years later, and many never will. Ironically, the no-college stigma tends to overlook the fact that college, as we know it, is failing a growing number of students. They also found that the earnings potential grows over time for many of these jobs, with certain certificate programs providing a greater long-term ROI than many bachelor's degrees. In fact, the Georgetown Center on Education and the Workforce found that a quarter of all ' good jobs,' those that pay at least $35,000 for young workers and $45,000 for older ones, don't require a four-year degree. They are often 'stackable,' allowing workers to layer new skills and credentials by weaving work with learning and avoiding the student debt trap. And jobs that don't require college can offer a less expensive, shorter pathway to a good career, oftentimes with a higher starting salary. Americans without a degree have the skills and knowledge to thrive in higher wage jobs. Perhaps with good reason: A four year degree still lights the path to the middle class for many.īut it is, all too often, viewed as the only path. And almost twice as many high school graduates head straight to a four-year college as to a two-year institution. Seventy-three percent of parents say it is ' extremely' or 'very' important to them that their children earn a college degree. Months ago, when we were in the tightest labor market in 50 years, seemingly endemic skills gaps were rooted, in part, in the not-so-subtle stigma attached to skill vs. While the Trump administration's move is focused on clearing the path for workers who haven't gone to college, the shift toward skills-based hiring will matter during periods of economic growth as well. They have highly valued, and often transferable skills, that can be applied in higher wage work. So-called STARs (or workers 'Skilled Through Alternative Routes' ) are the nurses, pharmacy technicians and electricians that make up the vast majority of the labor market. That means that workers without a college education, who have been disproportionately harmed by the pandemic, are likely to be overlooked in favor of the 36% of Americans that already have earned a four-year degree.ĭespite conventional wisdom, working Americans without degrees are not low skill. The elimination of so-called pedigree requirements holds potential to not only get Americans without degrees back to work faster but upend the no-college stigma that holds workers back and contributed to rising economic inequality in the decade that followed the Great Recession, when the top 1% of Americans captured 85% of income growth.Īccording to Maria Flynn, CEO of workforce nonprofit JFF, Americans without degrees are often the first fired in a downturn, and the last hired during periods of economic recovery.

Major employers should take note, because research suggests that there may be as many as 71 million Americans who have the skills to thrive in higher wage roles but lack the degrees or other credentials that employers often require. Perhaps with good reason: A growing number of employers now question whether college graduates are ready for work, and Americans who attended college often question the relevance of their education in an increasingly dynamic labor market. Morgan announced plans to end on-campus recruiting last year, and major tech firms, from Apple to Alphabet, have loosened degree requirements in recent years. Personal Loans for 670 Credit Score or Lowerįinancial giant J.P. Personal Loans for 580 Credit Score or Lower

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