The Liberal Arts Crisis

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The Liberal Arts Crisis

Due to rapidly rising tuition, student debt, and unemployment for young graduates, students are flocking to vocational-centered degrees. In the short run, maybe this makes sense. But did you know that by peak-earning years, that liberal art grads earn more than other graduates? Critical thinking is one of the most important skills you can have. Think before you write the Liberal Arts off as non-applicable.

Liberal Arts’ degrees in the humanities make more than most non-liberal arts degrees

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In 1970 1/2 college graduates were in liberal arts disciplines.
But increasing vocational degrees have left liberal arts behind.

Traditional Liberal Arts Majors:

Visual Arts
Great Books
History
Languages
Linguistics
Literature
Mathematics
Music
Philosophy
Political Science
Psychology
Religious Studies
Natural Science
Social Science
Performing Arts
*Critical thinking is a must in these majors!

vs.

Business
Health Professionals
Engineering
Computer Science
Education

Why?

Not every bachelor’s degree leads to a job:
[unemployment of recent grads by year]
2007: 9%
2008:11.9
2009:17.6
2010:14
2011:13.5
—
Men:16.1
Women:11.2

And student debt is skyrocketing:

Average debt per borrower in each year’s graduating class:

1993: $9,500
1994:$10,200
1995:$11,500
1996:$12,500
1997:$13,750
1998:$14,900
1999:$16,000
2000:$17,000
2001:$17,500
2002:$17,800
2003:$18,000
2004:$18,500
2005:$19,500
2006:$20,500
2007:$22,000
2008:$23,000
2009:$24,500
2010:$26,000
2011:$27,250
2012:$29,000
2013:$31,000
2014:$33,000
An increase that far outpaces inflation.

What average student debt would be if it had increased at inflation rates:

1993 $9,500
1994 $9,785
1995 $10,039
1996 $10,341
1997 $10,578
1998 $10,748
1999 $10,984
2000 $11,358
2001 $11,676
2002 $11,862
2003 $12,135
2004 $12,463
2005 $12,887
2006 $13,299
2007 $13,671
2008 $14,191
2009 $14,134
2010 $14,360
2011 $14,820
2012 $15,131
2013 $15,358
With 7/10 students taking on student loans.

Students Need To Get the Most for their Dollars

Since 2000:
Average Tuition and Fees (Public, 4 year college)
= 72% Growth
or +5.6% annually
—
Average Earnings for Full-Time Workers 25-34 with a Bachelor’s Degree only:
= 14.7% Decline
or -1.6% annually

And Fast…

Too bad their missing the point…
Liberal Arts’ degrees in the humanities make more than most non-liberal arts degrees over their career

Why people are afraid:
21-25 y.o. college grads from non-liberal arts colleges make $5,000 more yearly.

What they’re missing:

Peak earning ages (56-60)
Non-liberal arts college graduate: $64,000
Liberal Arts grads (humanities and social sciences): $66,000
Math degree graduates: $98,000
Hard Science graduates: $87,000

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