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Monday
Sep162013

Education Bubble Bust

I have long thought that the educational bubble that is due to burst is soon going to be upon us. A high school diploma is no longer considered to be enough, and college and university education is not giving value for hours or dollars. We are living in a pressured economy.

The student of today has little work related skills, large debt from college and or university, and only entry-level opportunities for jobs. Employers are having difficulty determining the level of competency of anyone coming from the education sector. The Grade Eight, Twelve and University graduates often read and write below the level the employer needs to prepare letters, articles and web sites. As the employer manages, through the applications, to sort out education levels, they deal with yet another issue in the work place, that being a prevalent condition among applicants where attitude has been eroded with liberal school leniencies.  

The employer could be motivated to support a more educated, engaged populace, yet by the time the student has four years of University, or three years of college, they suffer from deep debts with student loans to repay. They have mostly secured their education on their own, but the educational facilities take no credit for student bungling or enormous loans. If a student wants to switch to another college, there is no real granting of equivalency or recognition of subjects where they have successfully obtained passing grades. Instead, the facility can make more money on running the student through another set of preliminaries for their chosen career. They can also make more money taking the international student, so because their English is not so good for an undergraduate, the level of their studies towards becoming an undergraduate are reduced to get the higher fees, while Canadians are being bilked for not only the educational costs for our own students but also for the level of education.

Billions of dollars are at stake in student loans, with debt climbing to  higher levels and there being no chance for the student to even go legitimately bankrupt because of their student loans. Wages are not keeping pace with inflation. Some graduates are emerging with degrees and excessive life time debt, and often unemployment or underemployment.

There’s nothing illegal about degree inflation. But this pattern of inflation of governments in Canada hiring only degrees, and not competencies, determines job market pressures, and lessens the opportunity for competency. As in the housing bust of the United States, the degree inflation in Canada is part of the complex chain effect that is threatening to drag down an entire generation of youth. Today education is like a balloon that is about to burst.

In the situation of the Personal Support Worker, we have government regulating and abusing Personal Support Workers who are paying at a college level for 300 hours of academics, and giving $5000.00 in non-paid work hours to nursing homes run by our government. Education institutions are charging $5,000 to $6,000.00 for 350 hours of elementary education, while offering no health care training, such as Anatomy and Physiology, the cornerstone of health care and working in front line health care.