The current economic meltdown, one of the worst in the last 60 years or so, is bound to have many repercussions. It has already started telling on the job market and thousands of people are getting laid off or facing reduction in wages.
The next few years will be tough on new blokes entering the job market. Those who have spent money for seeking admissions for various courses, especially in the technology and finance sectors, will face the crunch when they start getting out of the protected environment of academic life. Students passing out this year and next are going to be severely hit.
One of the things that these students should think of now is to pursue higher studies. This is the best time to be in a university acquiring additional qualifications, knowledge and skills. Universities and institutes also should be preparing to provide such opportunities and gearing up for such a scenario.
This would be mutually advantageous for the student community as well as the academic institutions. Care should be taken to see that the element of exploitation is taken away when the financial angle of education is taken into account. When quantity (of students seeking academic pursuits) increases the centres of learning should take care that the quality does not suffer.
The near and long term future of the global economy will depend on their efforts.
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