The Negative Impacts of Credential Inflation
The Negative Impacts of Credential Inflation
Jack W. Davidge
Western Governor’s University
The Negative Impacts of Credential Inflation
A market that is flooded with credential laden workers vying for a small number of jobs could tip the economy into a recession (Collins, 2002). This idea put forth by Collins seems prophetic when the current state of the economy is taken into account, and brings to light an underlying additional cause of the slow recovery being witnessed in the job market, credential inflation. This is the process by which educational or academic credentials lose value over time, partnered with lowered expectations of holding a degree in the job market. Credential inflation is increasing rapidly, causing larger debt among the workforce due to over-schooling, leaving college educated individuals with fewer jobs upon graduation, and resulting in employers requiring degrees for jobs where they were once not needed. This weakening of the belief in credentials has been a persistent trend in the last century in higher education, and has come to the forefront in recent decades due to technical job refinement, making its mark upon the job market as well. As students take on higher amounts of student loan debt because of the perceived advantages a degree warrants, the economic burden upon younger generations increases. Even with degrees in hand, students after graduation are continuing to find less well paying jobs that require a bachelors degree. More and more individuals are faced with the choice to gain additional education and incur more debt, or settle for a lower paying job and remain in student loan debt longer. Employers that at one time required high school diplomas now only hire individuals with bachelor’s or even graduate degrees. If this is the direction America’s economic and educational culture is heading without pause and reflections of outcome, than a resulting catastrophe is not just chance, but a real
Jack W. Davidge
Western Governor’s University
The Negative Impacts of Credential Inflation
A market that is flooded with credential laden workers vying for a small number of jobs could tip the economy into a recession (Collins, 2002). This idea put forth by Collins seems prophetic when the current state of the economy is taken into account, and brings to light an underlying additional cause of the slow recovery being witnessed in the job market, credential inflation. This is the process by which educational or academic credentials lose value over time, partnered with lowered expectations of holding a degree in the job market. Credential inflation is increasing rapidly, causing larger debt among the workforce due to over-schooling, leaving college educated individuals with fewer jobs upon graduation, and resulting in employers requiring degrees for jobs where they were once not needed. This weakening of the belief in credentials has been a persistent trend in the last century in higher education, and has come to the forefront in recent decades due to technical job refinement, making its mark upon the job market as well. As students take on higher amounts of student loan debt because of the perceived advantages a degree warrants, the economic burden upon younger generations increases. Even with degrees in hand, students after graduation are continuing to find less well paying jobs that require a bachelors degree. More and more individuals are faced with the choice to gain additional education and incur more debt, or settle for a lower paying job and remain in student loan debt longer. Employers that at one time required high school diplomas now only hire individuals with bachelor’s or even graduate degrees. If this is the direction America’s economic and educational culture is heading without pause and reflections of outcome, than a resulting catastrophe is not just chance, but a real