Seizing Educational Opportunities During the Financial Crisis
Speaking on the campaign trail during his run for the Presidency, Senator John F. Kennedy often pointed out that, “When written in Chinese, the word crisis is composed of two characters. One represents danger, and the other represents opportunity.”
The Crisis: In a recession, the lack of a college degree can make tough economic times even tougher.
There’s no doubt the U.S. economy is in deep trouble. The stock market has lost nearly a third of its value from its autumn 2007 peak; home values have plummeted; foreclosures have skyrocketed; and taxpayers are now on the hook for a 700-billion-dollar bailout of Wall Street and the banking industry. Perhaps the most sobering news of all? The U.S. Economy lost 159,000 jobs in September alone, with rising unemployment rates predicted well into 2009.
The national unemployment rate now stands at 6.8%. And when we break out the unemployment numbers by education level, a striking pattern emerges:
* Unemployed workers with a college degree - 2.5%
* Unemployed workers with some college or AA degree - 5.0%
* Unemployed workers with high school no college - 6.3%
* Unemployed workers with less than high school degree - 9.6%
As you can see, workers with college degrees are 2.5 times less likely to be unemployed than their high-school diploma holding counterparts. In other words: The more college education you have, the better your position becomes in a tough job market!
The Opportunity: Studying for your college degree online offers crucial flexibility and cost savings … and you don’t have to quit your day job.
During a recession, if you’re already employed, chances are you’ll want to remain in your current position until the economic outlook improves. Fortunately, getting your college degree doesn’t have to come at the expense of losing your job — especially for students enrolled in online degree programs. Studying online gives you the flexibility to balance pressing financial responsibilities with your education and future goals. As an online degree student, you’ll be able to:
* Set your own course schedule and attend virtual class before or after you go to work.
* Work at your own pace: If you have a busy two months on the job coming up, you can reduce your course load.
* Maximize your study time: You can take classes anywhere where there’s an internet connection. Have a 60-minute lunch hour? Why not study or attend 45-minute class?
* Save money on commuting costs: With gas prices still hovering above $3 per gallon, the difference between commuting to a local college and staying at home to learn will save you hundreds — possibly thousands — of dollars a year.
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Thank you for the informative article. I sent a link to my college-bound little sis!