Refund On Kids
link What kind of mom “returns” her adopted son? – Broadsheet – Salon.com.
Come to think of it, this may start a whole new industry for lawyers. Not to return kids, but to hold schools accountable for under-employed kids after graduation. When you consider how much money it takes to send junior through university or college these days, there should be some kind of warranty attached to the results at the end. Undergraduate tuition, accommodation and the occasional feeding of students can be north of $100,000 for a standard 4 year term and well over that if they want to enroll in a ‘name’ school. Add a few more years of graduate school in there and shopping at Goodwill becomes a reality. Having multiple kids in that situation and well, you can see why the west’s birth rates are so low.
Can you imagine buying anything else in the real world purchased for that kind of money and not having some kind of guarantee or warranty attached to the goods? What if you bought a $100,000 Porsche and as the salesman hands you the keys, he says, “good luck, you’re on your own”. It is a very common scheme these days at retailers to try to sell you insurance on a product you’ve just purchased. Of course, this logically says, the goods you just bought may blow up, so why don’t you buy some insurance on this piece of junk for when that happens? I remember a while ago, some kid tried to sell me insurance on a piece of computer cord. Seriously, a piece of wire. After tortuous consideration, I declined.
Well in the real businesses of colleges, there should be some kind of comfort that after navigating the academic rigors of the particular institution, the kid should be instantly employable at best and articulate at worst. Anecdotal evidence points to the contrary:
Graduates are finding fewer jobs, being offered lower salaries
Employers expect to hire 22 percent fewer graduates from the class of 2009 than they hired in 2008.
Average salary offer to a 2009 bachelor’s degree graduate: $48,515
Average salary offer to a 2008 bachelor’s degree graduate: $49,624
More than two-thirds of employers said the economic situation forced them to re-evaluate their college hiring plans.
Percent of graduates who applied for a job and had one by graduation:
2009: 19.7 percent
2008: 26 percent
2007: 51 percent
61 percent of 2009 graduates say they see the economy as an impediment to getting a job.
Still, 52 percent say they are confident they will be employed within three months.
SOURCE: The National Association of Colleges and Employers student and employer survey
This is by no means a knock on higher education, because I strongly believe that you can never know too much. However, one thing I will jump to conclude is that perhaps some schools aren’t teaching kids the skills needed to find employment in the real world. If students go to school to get enlightenment, that’s one thing, but I’ve yet to run across any parent who didn’t wish their kid had less enlightenment and more employment. Perhaps it will give pause to students who think that taking courses on the culture of Himalayan yaks, or anthropology studies in modern comic books lead to a marketable college degree. As if that will qualify you for a top management position.
So I predict that with the increasing costs of schooling young John or Mary, that parents will clamor for schools to provide some kind of assurance that their $100,000 investment was not in vain. Contracts will be drawn up with schools to assure parents before entrusting junior and more importantly, their money to schools. Lawyers will be brought in to ensure compliance with with the contracts. Naturally, lawsuits will be filed if the grad cannot get a real job and instead writes for the Huffington Post or works with Al Gore for example. Everyone wins. Parents get accountability from schools, kids get legitimately educated, schools teach useful things and naturally, lawyers benefit. Capitalism works.