I also think there will also be (or already is) a shortage of people who can "do" with their hands (plumbing, electrical, carpentry--not as a profession specifically, but as an ability to help yourself when the need arises).
I saw an interesting interview on kids going to college (I believe on the Today Show). The interview was regarding money, where to save, where to spend, etc...
I don't remember the exact numbers given, but it was something like almost 80% of high school graduates go on to a liberal arts college (for at least a year), and by the end of two years, more than 40% of those drop out of college. And in reality, only the top 20% of high school graduates should go to college (liberal arts education), possibly the top 30%, but the bottom 40% should be encouraged to go to trade schools and apply for internships right away. It also stated that the top 10-15% really don't need a formal education or a college degree because they would be able to do any job they want (in other words, figure it out without taking formal classes) and would be better off going to take classes to get certain certifications.
Anyway, I found it interesting for a few reasons.
1. People always ask me why I do not have college funds opened for either of my two kids. One reason is both sets of grandparents have them open already, and the other is that I am not going to push either child to go to a 4 year liberal arts college to get a degree in underwater basket weaving. I also know that both of my children need to be involved in their education, and they need to put forth the effort to go to college (i.e., do what THEY can to get scholarships, etc...). While they are my children, and I want them to go to college and succeed in life, having a college degree doesn't make one successful.
2. I have a college degree, and the only thing it has gotten me is a large amount of debt (student loans). I was naive about scholarships, went to college before the HOPE scholarship, and loved learning so much that my major became "lifetime college student".
3. My degree is in education, yet I am an accountant (with no business, accounting degree). Because I catch on quickly, I am able to pick up on how to do things easily and do not need the "formal education" to figure it out.
4. My husband is one of those college students that dropped out after 2 years. He is so mechanically inclined. He is a physics NUT, and he works in the electronics field. A four year degree from a liberal arts college should not have been the route he took after high school. Trade school should've been the first step. He, of course, is looked down on by society because he's a college drop out with no formal education, etc... but he's so extremely smart in the physical sciences that it blows my mind. He's a "doer", and if either or both of my children become "doers", I will not be upset one bit.
Anyway, sorry to hijack and go off on a tangent.
/off soapbox
