Economic Development News & Insight


Is University a Waste of Money?

Laura Fuller / March 17, 2017

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Is University a Waste of Money?

Anxieties surrounding youth unemployment are not new concerns. For years, people have been discussing whether attending university or college is even necessary anymore to lock down a job. Many graduates have jobs in fields that have nothing to do with what they studied in school; others have no job at all. For this reason, many students accept jobs that could have been attained in high school just to earn some money. Most of these part-time jobs that students get stuck with do not have the benefits that young adults need to sustain themselves.

For the first time ever, the number of millennials living with their parents was higher than the number of young adults living in other living arrangements (such as being married, cohabiting, living with roommates, or living alone). Just over 32 percent of the U.S. millennial population indicated that they were living with their parents in a study by the Pew Research Center.

Scott Stirrett, founder of Venture for Canada, says that university degrees are still valuable, despite recent opinions. Employers value academic backgrounds, as graduates bring unique experiences into a team environment. University degrees prepare students to hold a variety of perspectives. The ability to understand multiple perspectives enables an individual to be a diplomatic and well-informed decision maker. Fostering an academic mindset in a college or university setting creates a valuable team member for many different organizations.

The bottom line is that university is not a waste of money. Although graduates are getting jobs in other fields that they have not studied for, the skills that they during the years pursuing academia provide them with a unique perspective of the world, as well as a variety of transferable skills. The stronger transferable skills a person has, the more success they will have in various job locations.

One response to “Is University a Waste of Money?”

  1. Charlie Manner says:

    Thats all well and good, but how do “transferable skills” pay off mountains of student loan debt when you’re flipping burgers?