TOP

“Broken Education System? Millennials beginning to think so…”

 

You would think by being the most educated generation in American history that these times would be very prosperous for the millennial class. However, a chilling fact emerged in the Federal Reserve’s data and was caught by the advocacy group Young Invincibles showcasing the fact that today’s 30-year-old is not earning what their parents did around their age.

 

With millennials earning 20% less than boomers did (median household income of $49,581) at the same age in life one might question if the education that is burning a hole in young people’s pockets is even worth it…

 

In fact, they are. According to think tank New America only 13% of millennials agree or strongly agree that the current education system is fine. What’s more alarming, is that 79% said they disagree or strongly disagree that the system they depend on to provide jobs is adequate. To boot, the average debt per graduate is $37,000, which is drowning this generation from getting started in life.

 

Unsurprisingly, parents and grandparents of millennials are much more upbeat about education as 28% say they agree or strongly agree that higher education is fine with the silent generation following suit at 39%.

 

But with the headwinds of:

 

• Students Loans
• Rising rents
Underemployed
Not putting aside savings
• Not earning as much as their parents

 

Facing young people today, it’s time to call into question if self-education is a better way to go for some students. Watch the video below of Pay-Pal founder Peter Thiel voicing his opinion on this matter:

Follow Alex Deluce on Twitter For The Latest Stories on NIRP Umbrella. 

  • Thomas J

    Great article,

    Such an important reminder of the downfalls of our environment right now, love Thiel’s video.

  • Liberty Naation

    People should learn to self educate… education is ripping the young people off today..

    • Mark Zieg

      Many employers don’t accept a “self-educated” bachelor’s degree as an accredited qualification…

      • Liberty Naation

        I agree, but the point for the kids studying useless subjects leaving them with a mountain of debt…

        is it worth it?