Shelling out tens or even hundreds of thousands of dollars for higher education may no longer be the surefire path to a great career that it used to be. A recent report compiled by the education resource group OnlineColleges.net found that more than 300,000 Americans with either Master’s degrees or Ph.D.s were receiving food stamps in 2010 — and many more are likely on some form of government assistance today as economic conditions since that time have only continued to worsen.
To give a point of reference as to how bad the situation truly is, there were fewer than 100,000 Americans with Master’s degrees or Ph.D.s on food stamps in 2007, which means the overall number of people with extensive college educations on government assistance more than tripled in just three years. And if this trend continued at the same rate between 2010 and 2013, the total number of college educated on government assistance today has easily eclipsed more than half a million, and with no end in sight.
According to the latest government data, more than 5,000 people working right now as custodians have Ph.D.s they are not using, and another more than 100,000 people with at least a bachelor’s degree currently work in some sort of custodial position. A whopping 80,000-or-so people with at least a bachelor’s degree also currently work as attendants at amusement parks and other recreational facilities, while nearly 320,000 college graduates currently work as servers at restaurants and cafes.