Stop telling people not to go to college

Skilled trades jobs may have a lower entry fee, but this comes with severe tradeoffs.

We also cannot ignore that there is a significant wage gap between high school graduates and college graduates that is increasing every year. This past February, that gap hit a record high, with the average college graduate earning $22,000 more per year than their high school-only counterparts. Only 16 percent of high school-only graduates will out-earn those with a college degree. Many college degrees are a waste of money because the recipient overpaid on tuition, majored in the wrong field of study, chose not to work in their degree field, or a combination of the above. A college degree can also clearly be well worth the cost.

So what are some real solutions to tackling the student debt crisis beyond the myopic “don’t go to college”? Honestly, yes, tell some people not to go to college, especially if they are planning to graduate with hundreds of thousands of dollars in debt with no clear path to repayment. But also recognize that college can be a valuable resource — if students shop for the best deal and make sure their education is pointing them to a stable and high-earning career. Reform federal funding of higher education to bring down tuition costs, which are far outpacing inflation. Promote on-the-job training. Incentivize companies to fill entry-level positions with high school graduates. Provide ways for potential employees to demonstrate value and skill beyond a diploma.