The problem is ultimately what it always is - money.
Instead of higher education being something that people do because they want to do it, because they're passionate about a subject or simply want to grow and learn - it became viewed as an edge that would help you get jobs more quickly or better-paying ones. You spent some of your money and time now, but would have a higher salary later in life.
Then, globalism and the internet came in. You are no longer competing with people in your home town. Or your state. Or your country. You are competing with everyone, everywhere, all the time. Employers, for better or worse, only have so many slots available. If one candidate has a degree and the other doesn't, it makes sense to use it as a filter - if only to reduce the shear amount of applicants you need to consider. Every applicant is time and effort and money, and reducing it to a narrow list quickly is paramount.
Now, a degree went from an edge to a necessity. If you did not have it, you would simply be filtered out and your chance of getting anything beyond minimum wage was effectively zero. That meant that almost any cost would be accepted, because the consequences would be so high if not taken. But, schools only have limited seats. Nearly fixed supply and increasing demand meant the price skyrocketed.
Now, we're in the next phase. The balance has tipped. Now, competition is so fierce globally that even with a degree chances of a good job are slim. You might be overqualified, with years of experience and a relevant degree - but if you're competing with 1000 other similar applicants than does it even matter? With those kind of odds and the consideration of lifelong debt, now people are starting to see it as a waste of time.
I don't see a solution.
Instead of higher education being something that people do because they want to do it, because they're passionate about a subject or simply want to grow and learn - it became viewed as an edge that would help you get jobs more quickly or better-paying ones. You spent some of your money and time now, but would have a higher salary later in life.
Then, globalism and the internet came in. You are no longer competing with people in your home town. Or your state. Or your country. You are competing with everyone, everywhere, all the time. Employers, for better or worse, only have so many slots available. If one candidate has a degree and the other doesn't, it makes sense to use it as a filter - if only to reduce the shear amount of applicants you need to consider. Every applicant is time and effort and money, and reducing it to a narrow list quickly is paramount.
Now, a degree went from an edge to a necessity. If you did not have it, you would simply be filtered out and your chance of getting anything beyond minimum wage was effectively zero. That meant that almost any cost would be accepted, because the consequences would be so high if not taken. But, schools only have limited seats. Nearly fixed supply and increasing demand meant the price skyrocketed.
Now, we're in the next phase. The balance has tipped. Now, competition is so fierce globally that even with a degree chances of a good job are slim. You might be overqualified, with years of experience and a relevant degree - but if you're competing with 1000 other similar applicants than does it even matter? With those kind of odds and the consideration of lifelong debt, now people are starting to see it as a waste of time.
I don't see a solution.