As the young cohort shrinks due to our longstanding low fertility rate, the endless supply of new college students – and workers – is falling. Simultaneously, college tuition and fees have skyrocketed.
The use of college degrees as a “filter” to winnow down the number of job applicants is no longer necessary. We see this in the ending of SAT/ACT/GRE/GMAT testing requirements for college applicants where they were used to filter out college applicants.
This also means no longer requiring degrees with less training – certification programs – suffice.
Today’s young have a very bright future ahead with tremendous career opportunities due to the shrinking labor pool.
Source: Campus Reform | ANALYSIS: ‘Microcredentials’ poised to disrupt higher ed as degrees lose relevance to employers