College was once the golden ticket to the American Dream. Now a recent report has found that most companies are shifting the focus away from higher education in their hiring practices.
Intelligent.com’s Nov. 29 report found that forty-five percent of companies plan to eliminate bachelor’s degree requirements for some roles starting next year.
“Due to the expense of attending college, earning a bachelor’s degree is generally more difficult for people from traditionally marginalized groups and those from lower socioeconomic backgrounds,” Diane Gayeski, higher education advisor for Intelligent.com and professor of strategic communication at Ithaca College, said in a statement.
She adds: “If a student’s parents didn’t attend college or if they are from outside the U.S., it can be much more difficult to know how to navigate applying to colleges and finding scholarships and other resources,” she said. “Eliminating a bachelor’s degree can open jobs up to individuals who weren’t able to attend college.”
In recent years, the overall sentiment around college education’s value has dropped significantly, not only among college-aged generations but those who already attended as well.
A recent poll conducted by Gallup showed 46% of parents said they would prefer their child go after something other than a college, mostly because of finances. A little over one-third of the surveyed said college was too expensive. What’s more, Bloomberg pointed out tht only 56% of adults under age 30 who went to college said the benefits of their education outweighed the costs.