Breaking: Fewer People Want To Spend Tens Of Thousands On Grad School

A grad school degree is a thing to flaunt on your resume—and it's a time-honored pursuit when the job market dries out. But nowadays, fewer people are heading for post-college dresses according to a report released by the Council of Graduate Schools. Enrollment rates are dropping for the first time since 2003. It comes as a bit of a surprise because enrollments generally rise when the economy dips. So what are the causes for this sudden lack of interest in higher education?

Well, for starters: grad school is expensive. When you're going for a master's degree, you're likely to be footing the bill without the guarantee of a high-paying job waiting for you once you get your diploma. (Example: Law school graduates with crippling law school debt and few job options.) As the recession continues, employers are extending fewer educational benefits to employees. And if you're hoping for a job change, you're probably not expanding the skill set required for your current employment.

But maybe the real reason is that graduate students are the worst?

Contact the author of this article or email tips@gothamist.com with further questions, comments or tips.

By Tyler Coates in News on September 22, 2011 1:44 PM

Comments [rss]

nvk

Depends on the degree program -- if it's a technical one you may be getting paid via grants...

Waldemar1

100 reasons NOT to go to grad school:

http://100rsns.blogspot.com/

Maybe people are starting to catch on that it's not such a great idea.

soothsayer

sex industry is recession proof. I wonder why gothamist didn't link to the story of the fired ADA who moonlit as a dominatrix, or to her friend jade vixen whose s&m loving lawyer boyfriend was shot dead. etc.

Rocknrope

Jenna Jameson, MA, A2M

PrettyAmiable

Aww, I got sad the second I realized what A2M is. That's gotta end in like, dysentery. Right?

Ian MacAllen

Law school is a Juris DOCTORATE, not a Master's degree.

m015094

Law school is a joke. Unless you're going to an IVY, your law degree means almost nothing.

Len_Drexler

I think that's a bit of a stretch. While there are far too many lawyers being churned out by too many law schools you do actually need to go to law school to be a lawyer. I think your statement would be more accurate in describing business school. Hardly anything is taught in business school, even the Ivys, that you couldn't learn on the job.

m015094

I agree about the too many law schools. B schools...well, unless it's Wharton, HBS, or the other top 30, don't even bother. It's more of a rite of passage rather than actually learning something.

fleur_de_lis

*rite of passage

m015094

Yeah, saw that after I posted. I'm an idiot.

fleur_de_lis

haha you're definitely not an idiot, that's an easy thing to mix up :)

PrettyAmiable

I went to a top 30 b-school and can confirm that the curriculum is a joke. But! I got the stamp so now can progress past the artificial glass ceiling BSBAs have. So there's that.

NicoletteBeach

Which makes it even sadder...

ishtar_79

There is no such thing as a useless degree, but there are plenty of useless people in the world.

ANGRYGOD11

The resumes piling up at my office clarify there are a lot of useless degrees.
BTW, we aren't hiring.

Trustafarian

what are student loan interest rates at right now? if i were a kid in school right now i'd want to get the hell out as soon as possible with out racking up too much debt.

MattyGC

Because higher education is a complete scam in this country. 25k a year for an english degree, with no recourse for not paying because you're unemployed, is obscene

LtWorf

The choice belongs to the student as to what degree they'd like to take and where'd they like to take it. They can charge that much for an English degree because that's what students are willing to pay. There are PLENTY Colleges and Universities that exist which cost a damn site cheaper than NYU and Columbia which give a better value for the education they'll receive.

Yes, you all want to go to the best schools, but put things in perspective for a change. A Good college experience need not be as expensive as some people are willing to burden themselves with.

NicoletteBeach

It's not exactly that students are WILLING to pay 25k/year for an English degree. It's more along the lines of employers requiring even the most menial of jobs to have, at minimum, a bachelors degree.
If employers started to put less emphasis on degrees and more on actual experience/willingness to learn, less people would be forced into 100k worth of student loan debt.