We all have our own American Dreams. Some of us aspire to be chief executive officers or the owners of our own small businesses. Others aspire to be talented teachers or skilled engineers. No matter the dream, we all want success, and we all want to be able to provide for ourselves and our families. We work hard so we can live comfortably, safely, and securely. In the 20th century, having a college degree usually guaranteed this outcome. If you graduated from a traditional four-year university, you could attain a well-paying job and eventually start a family.
Today, we have this same dream, but the global economy has vastly changed. Thanks to innovative ideas and new advancements in technology, 21st-century jobs require more technical skills and training than ever before. Having a college degree no longer guarantees that you will be competitive in the job market. Too often, students struggle to find employment after graduation and face massive student-loan debt. In America today, college graduates have more than $1 trillion in combined student loans, and that number only continues to climb.
The goal of public policy must be to ensure not only that an abundance of jobs are available for our people, but also that our people are equipped with the skills needed to attain those jobs. We can start by supporting the many innovative education approaches that have sprung up in recent decades, including technical schools, online colleges, and other alternative institutions. They help people get the advanced training and skills they need with more flexibility, lower costs, and less debt than most traditional colleges and universities.