The Stagnation of Higher Education and Its Negative Effects on Society

Higher education is expected to be a driver of economic and societal growth, but lately, it seems to be doing neither. More and more people are going to college, but the benefits of higher education are not as guaranteed as they once were. Many college graduates are struggling to find meaningful work, pay back massive student loans, and establish themselves as independent adults. As for society, higher education's troubles worsen society's issues, particularly with regards to inequality in education and employment.

First, higher education is stagnating because of high tuition fees. The cost of college has risen faster than the rate of inflation, making it too expensive for the poor and middle-class families. This can lead to a decrease in access to higher education and increase income inequality since the wealthy can still afford to invest in college education. The result is a reduction in mobility across the class spectrum, which, in turn, hampers society's well-being. In general, higher education is a ticket to socio-economic mobility. So, without the availability of higher education for a wider section of society, the social gap will continue to widen.

Second, higher education is stagnating because of the skills gap. There are more college graduates than ever, but many employers are not hiring based solely on degrees. Employers want graduates who possess the necessary skills for the modern workforce. Unfortunately, the curriculum in many colleges has not kept up with the advancements in industry. So, there is a distinct lack of relevant training in specific fields. This leads to an oversupply of graduates in fields that don't meet contemporary needs, such as the liberal arts, and an inadequate supply in areas of high demand, such as STEM fields. Overall, this mismatch between skill sets and the labor market's needs is stifling the economy.

Third, higher education is stagnating because of the value proposition. Students cannot justify taking on the loan burdens required to attend college because the return on investment tends to drag on. Many students graduate with degrees that do not pay for themselves until much later in their lives, and sometimes, it never does. This is a problem for both students and institutions alike. For students, it puts the dream of getting a college education out of reach, and even if they take out loans, they're

Fourth, the focus of higher education has gradually shifted from student-centered learning to profit-oriented business models. Affordability is not the only issue; there is also a blatant issue of predatory practices targeting students, such as prioritizing the generation of income over student enrollment. The usual income production techniques by the administration of higher education institutions limit academic freedom, provide subpar education, and ignore valid skills. As the value of a habitable earning degree dwindles, so do the reasons to invest in higher education.

Fifth, Higher education is stagnating because college degrees are not the only path to career success. There’s a popular misconception that success and stability only come with a college degree. It is one of many viable options available to students, and many professions no longer require a degree. In this sense, the emphasis on bachelor’s degrees unduly magnifies their importance, promoting their value above all other professions as a surefire path to a better career. It is not that it is no longer relevant; however, it does not carry nearly the same clout it did ten to twenty years before, further dragging down the long-term benefits of a college education.

Higher education is currently in crisis, and this will not go away anytime soon. The cost of higher education, a mismatch of skills, the value proposition, profit-oriented business models, and the exclusivity of college degrees all contribute to the stagnation. The effects of this stagnation are already being felt, with class divides and social inequalities in education and employment. The solution to this impasse lies in creating more affordable and accessible higher education, improving the quality of education and eventually breaking down the bias that a college degree is the only way to career success.