Higher education stimulates the economy
As more Americans are pursuing higher education during the economic downturn, the Obama Administration has made sweeping efforts to take full advantage of the increasing student population to produce graduates that stimulate the struggling economy.
“We have to educate our way to a better economy,” said Arne Duncan, the U.S. secretary of education.
The job market is expected to see a substantial growth by 2018, according to the Bureau of Labor Statistics, and more than 60 percent of those jobs will require a college degree. There are currently only 3.4 million job openings in America, which is expected to reach 46.8 million in a few years as the baby boomer generation retires and new technological industries create unique professions.
As a result of this extensive job growth, more than 60 percent of adults are considering going back to college to further their careers, according to a consumer study conducted by Bellevue University, and many are pursuing online marketing degrees, among others, as the negative stigmas around web-based learning are lifted. A study by the Sloan Consortium shows that more than 70 percent of higher education institutions have seen an increased demand for online courses.