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Originally Posted by mongidig
That surprises me. Thanks for sharing. I would like to look a little deeper into the context of the study.
Obviously those with degrees have more earning potential. I'm talking about those folks on a low fixed income and how they choose to budget.
There is no doubt they are at a systemic disadvantage. The system is certainly rigged in favor of the rich.
There's a big generational disconnect. College degrees are more important than ever because 20-30 years ago, it was much more feasible to "work your way up" so to speak and end up with a good job or at least a middle class job with no degree or no specialized degree.
Now, just to enter that second tier of the workforce, it seems a degree is necessary in most fields. You'll find yourself unable to be promoted unless you are in a unique situation. Even a specialized degree is considered a must-have by many 18-20 year-olds today, and they're not wrong. As science and technology and software development continues to grow and replace manufacturing and industry in the U.S., those specialized and advanced degrees are more essential than ever. And automation and globalization are really crushing the wages and jobs of those without degrees, contributing even more to rising income inequality.