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Is your degree paying off?

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    Report: Nearly half of all workers with four-year college degree have job which doesn't require degree

  • Duration 8:20
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Pushing too many kids to go to college and a report showing nearly half of all workers with a four year college diploma.

Have a job that does -- to require a college degree.

For got a weak job market is an explosion in government subsidies to blame.

Hi everybody I'm David as provocative -- on FOX let's go into focus where it mr.

Steve Forbes -- Conger Michael Zabian rich -- guard.

John Tammy and Elizabeth McDonald so Steve are these government subsidies a bad thing.

Absolutely -- understand two things one -- turned to a catapult of college into an albatross because.

Tuitions are gone four times the rate of inflation because government subsidies.

That's also making kids indentured servants where they come out of college with a mortgage like loan.

And set -- having a bright future they're paying -- years.

Prior to pay off those launched a horrible situation and -- they come out of college -- -- huge huge debts and they can't get a job that's worthy of a college degree.

Ellen there's there's a lot of things to be concerned about about kids getting college degrees are not getting jobs right now but I have to tell you -- -- the question.

Profoundly troubling because it only leads to one answer and that is to say.

That if you don't have money in this country you shouldn't be able to go to college.

That's what those that well how are you gonna go to college of you don't have money that's what those subsidies do they make money available for deserving kids.

To go to school but he -- there's an even more fundamental question is a college degree worth it if he can't get a job worthy of a college degree and you end up with a huge debt 203040.

Thousand dollars or more is it worth that you know that's -- With same questioning him resource departments -- -- companies across the country -- do we want somebody who has more experience in the workplace or just that.

Blue chip pennant that is overpriced I mean.

But it's -- this is a circular problem I hear what Steve is saying government subsidies means colleges and universities -- more administrative step is administrative bloat.

Now administrators outpace the number of faculties by ten time.

Ten times so when you have got bloat you gotta say to yourself who pays -- that -- it's college tuition it's the middle class.

-- in -- -- frankly we know who pays for it and who -- -- delinquencies anyway that's -- the taxpayer delinquency rates are at 11%.

Were talking hundreds of billions.

Of dollars here eventually it's a taxpayer -- gets saddled with that -- these subsidies are bad they raise the cost of tuition.

They'll hurt the economy in the future because.

To pay for these subsidies.

Tax increases are coming and also -- could be more dead issue to pay for these -- but that's not why these kids can't get.

Jobs today it's -- the economy is terrible.

The economy actually shrank during the fourth quarter of 2012.

If this economy was growing the normal 45%.

That it does during a typical recovery.

Many of these graduates would have jobs but rich who did the fact is is that we're -- we the taxpayers and we the parents by -- subsidizing.

These college degrees that very often don't amount to good jobs.

Yes it's unfortunate and we've reached this point you know where technology -- change the whole game in a way that we're just beginning to realize.

You -- these online universities a couple of them started by two Stanford professors.

They opera world class education for free -- near free.

And you know what our employers looking for they're looking for intelligence.

Drive and discipline and it used to be.

That a college degree stood for those things right -- now employers have faster better ways to determine whether they want to hire someone so John -- these these billions of dollars in it government subsidies taxpayer subsidies for college educated.

Are worthless.

They're worthless and and I'm not going to defend them but it what bothers me here's this notion of a job -- -- requires a college degree what -- laugh.

I don't care whether you wanna be an investment banking analyst out of called -- Starbucks for Easter.

There -- nothing you learned during those four years that has anything to do with the job you'll eventually do.

And the idea that would that somehow college going to make us better off for worse it's credentialing device jobs are plentiful right now -- -- the government's getting in the way of economic growth.

And he backed a fact is frankly a lot of plumber jobs are jobs like that that don't require college degree maybe two years of of kind of an associates degree.

They pay more than the college yeah that's right in other words that trade as -- pays more and you see it.

All all across the country look at that nuclear medicine technologies everywhere associate degrees don't require full four years of college education yep that's right so should -- should your child learn a trade instead we don't we've been saying for a long time here -- of fox that that's what's going on places like Finland.

And Sweden -- is -- really bothers me the administrative bloat.

At these colleges and universities and water to their families are paying for you a bicycle than any of these college hallways not hitting -- buddy.

And they surely -- administrators what are they doing well out and -- -- -- fact is financial -- has increased 438%.

Since I went to college anyway and that's adjusting for inflation.

What does it lead to according to you back at least it bureaucratic.

-- Well David college or has always cost money -- the government got more more involved and spun out of control.

If you didn't have these government subsidies Collins would cost a lot less kids would be able to take on loans that they could service when they left college and a half decent economy.

Instead Uncle Sam is acting like a loan shark.

Making loans easier to get them pizzas so kids end up with 5000000 dollar debt and they're way behind for the first -- twenty.

Years of their career and Rick I understand that you have good intentions wanting everybody they have college degrees but.

Very often what all these subsidies lead to his college -- -- not in favor of that -- if not here's the problem you guys are mixing the question with your answers I think you're -- think they're kind of role did I think -- to -- -- and what you are absolutely I went via the Ohio State University thank -- I think I have absolutely right when you -- -- that there are too many kids going to college that would do better trade school I don't know -- with that.

But to say that we shouldn't make subsidies available to people who do belong in college.

That's where I haven't might -- is a connection between all of these subsidies all the billions of dollars were -- targets small change here.

We're talking enough money -- could really bankrupt the nation or at least some states.

There is a connection between those subsidies and the bloat that.

In -- was talking about now I think Rick has very good intentions but -- I think he fails to understand is that the subsidies actually raise the cost doesn't matter whether it's housing or ethanol or what.

It raises the cost therefore it actually makes it less affordable.

That's why you have all this debt and that's just gonna make it harder for these graduates even the ones with jobs.

Did have a good standard of living.

Once they -- -- -- let's.

All blond rich and you say that what -- -- now seeing because of these Internet universities in such could be the solution that could be the next step the answer perhaps we got all it.

-- -- -- Well I invite our rob viewers to go to you gas city dot com or course Sarah dot com and see what's available.

Online for free I'm not saying that you know -- colleges it exists is is worthless but we're certainly paying too much and we're leading.

A lot of kids down a primrose path.

And promising stuff that we're not able -- -- and burning them with a lot of -- employers just -- intelligence drive willingness to learn.

That's -- they're looking for today.

David if you just want the knowledge instead of the prestige of a college degree you can now get a for about a thousand dollars a year thanks to the Internet it's gonna due to higher -- when -- the media well John -- you're always talking about the free market solutions is this a free market solution to the problem that we have this hundred billion dollar problem.

It's a free market solution bullets remember this is not what parents and kids are -- they are buying a credential and consider presumed the internet's going to revolutionize.

College education I don't think it's very valid.

But getting back to Rick's point emotion I think is getting -- once again he wants a lower tuition and wants.

Called education -- -- never won the best way to do that is to get the government subsidies out of there.

In which case prices for college Jewish educational fall like that done for all other previously hard to get goods are and it's got to be the last -- from -- -- -- next up for.

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