#WILL THE TECHNOLOGICAL BUBBLE EXPLODE HOW TO#

As already discussed, the Millennial generation believes in education, at least indicated by trends of college enrollment and my study where over half expressed higher education as a financial goal. The final point that few writers address when it comes to education (and perhaps the most important point of all) is the changing attitudes toward education. However, if all four do occur, the education bubble collapse will happen regardless of the current circumstances. Of course, some readers might wonder if all four signs must come to fruition in order for the education bubble to pop, and the answer is no. These warning signs would be favorable laws toward discharging student loans in bankruptcy (making it more challenging for students to receive money for education) a societal zeitgeist toward education changing (for instance, businesses preferring certification or a degree from something similar to the Khan Academy over traditional colleges) a major recession coming back to the United States, taking away more employment (making it more difficult for student with loans to pay back their loans) students becoming discouraged by negative news toward education (causing many to drop out or to avoid college). In other words, the current positive attitude toward education is accurate if a student chooses the right degree (student readers: consider a math-related field if you want job security).īut what if Mish and Peter Thiel are right about a future education bubble? Are there warning signs like there was with the real estate bubble? I’ve argued in a post titled, When Will the Higher Education Bubble Pop, that we should be watching for four major signs with one disclaimer here: it’s possible that these four signs may never come. The same held true for those in physics, medicine, engineering and world languages. Matt picked his favorite offer and worked while finishing his degree. Unlike many of his liberal arts peers, Matt had multiple job offers while he was in school – all paid internships.

I spoke with one young man while working at Wells Fargo, Matt, who was pursuing his B.S. Students pursuing heavy math-related fields seem to have little – if any – trouble. Some college students pursue liberal arts degrees degrees that aren’t necessarily required in fields. The answer may seem like a resounding yes, but the truth may shock you. While this is a positive sign if you work in the educational field, it does bring a challenging question to the table: if over half of Echo Boomers pursue a degree, won’t highly skilled fields end up paying more in the long run? In other words, Echo Boomers believe in higher education. One of the many financial questions I asked Echo Boomers (another term for the Millennial generation due to its massive size) was, “What are your financial goals?” The results surprised me: over half of Echo Boomers stated that they planned to attend college, finish their current degree or continue pursuing an advanced degree. I spent over five years working at Wells Fargo Bank NA, the last year and a half collecting data on the Millennial generation. In order to assess the value of education and its future, three areas come into immediate focus: the current attitudes about education among the Millennial generation (most of whom are being educated), the warning signs of an education bubble, and the changing attitudes toward education. Even entrepreneurs, like Peter Thiel, recently joined in the discussion, as some entrepreneurs are offering alternatives outside of education and trying to change the current zeitgeist of “college degrees are absolutely necessary.” One thing many of these individuals agree on: the cost of education is growing and it’s placing an enormous burden on students. Is the education bubble about to explode? Some bloggers, like Mish, tend to think so, while others, like Catherine Rampellof Economix, still see value in education.

#WILL THE TECHNOLOGICAL BUBBLE EXPLODE HOW TO#

Smith currently advises corporations and organizations on how to market products, services and ideas to the Millennial generation. The Echo Boomers or Millennials are people born between 19. Mr. Timothy Smith writes The Echo Boom Bomb, a blog featuring financial, economic and socioeconomic analysis of the Millennial generation (also known as Echo Boom Generation or Generation Y). My piece on the role that student loans have played in Occupy Wall Street has inspired several guest posts.

Will the technological bubble explode