More than half of high-school grads matriculate to college, even though only 35% of 12th graders score proficient in reading and 22% in math on the National Assessment of Educational Progress. This suggests that many college students aren’t academically prepared or even inclined. But colleges ensure they graduate just the same by handing out A’s for no effort.
U.S. colleges awarded 2.2 million bachelor’s degrees last year, about twice as many as in 1990. That’s also double the number of associate’s degrees. Another 860,000 Americans last year received a master’s degree, nearly triple the 1990 figure. Nearly 40% of Americans with a bachelor’s now have an advanced degree.
Colleges have added graduate programs in fields like urban planning, sustainability and fine arts to rake in more federal dollars. Students had been allowed to take out unlimited federal loans for graduate studies until last summer’s GOP tax bill capped borrowing at $200,000 for professional degrees (like medicine or law) and $100,000 for others.
One result: Young college grads enter a labor market that is saturated with heavily credentialed workers. But they have less work experience and are often less productive than their older counterparts. Many skated through college by relying on AI to do their work. Take ChatGPT away, and they struggle to function.