Gen Z’s rising interest in grad school could be yet another “recession indicator.” With the young gen facing a tough job market, grad school is starting to look like a strategic next step. The unemployment rate for 20-24-year-olds rose to almost 8% in March, up from a low of 5% in April 2023, signaling a slowdown that’s disproportionately affecting younger workers. Admissions consultants report a noticeable uptick in interest, as students seek to “relaunch” their careers while waiting out the downturn. Many fear the rise of AI and degree inflation—where even entry-level roles demand advanced degrees—will leave them behind. But grad school doesn’t come cheap: tuition for programs like law or business can push debt into six figures, and federal loan interest rates for the 2024–25 year are as high as 9% for grad students. Still, for many recent grads who can’t get responses after dozens of applications, school seems like the only option in a stalled economy. (Bloomberg)
👀 Read more from YPulse: Gen Z Might Be Changing Their Mind About Going to College
