Fastest Growing Jobs Do Not Need A College Degree

Student Debt

Thanks to the Bureau of Labor Statistics (BLS) we are finding out that college isn’t really so necessary for the rising jobs of the next decade. In their list of the top 30 fastest growing jobs needed within the next ten years, only 5 of them require any college degrees. Those jobs are physicians, accountants, elementary school teachers, post-secondary teachers, and nursing.

A college education has finally priced itself above the means of the average person. Only by taking out large student loans does anyone have a chance of paying for college.

The chart by the Bureau of Labor Statistics (BLS) shows that the growth in jobs is happening in industries that require only a minimal education. The decade that started in 2010 and ends in 2020 shows that the total number of jobs will grow by 20.4 million. Just the top ten jobs on the list accounts for half the job growth.

Why does future job growth consist of mostly low education jobs?

Future jobs is not going to be high-tech and high paying jobs. The industries that need more workers are going provide labor intensive, blue-collar jobs. The high paying white-collar, tech jobs we have all been promised are not going to be there like we were promised. These types of jobs are going to be paying salaries between $30,000 to $50,000 per year. In todays economic environment it just isn’t enough to provide for a family of four.

Our children have been given two choices in their career choices. The first is to take on large student loan debt pursuing a college education or pass on a college education and take low paying jobs that don’t need post high school education. Those that have taken on student loan debt have an average loan of $30,000 according to Bureau of Labor Statistics.

Many statistics praise the myth that a college degree will allow you to earn much more in your working career. It’s said that you could make as much as $1,000,000 more in your lifetime. This myth has proven wrong and they actually figures show it is something like $300,000.

The rate of student loan default is on the rise. Citigroup estimates that  already $74 billion of the $1 Trillion in student loan debt is in default. This number is expected to grow with more graduates entering the workforce and not finding work. So not only will we see more loans in default, we will also see the burden of this debt shifting to the back of the tax payers. In Obama Care, the government has taken over all student loans resulting in the taxpayer footing the bill when the loan is in default. The students will still be paying their loans only in high taxes on their incomes.

Student loans run by the government is like deja-vu of the real estate bubble. Loaning money to people who have a very small to no chance of paying back their loans. Graduates have been sold a bill of goods on borrowing money for education.