Three years after the U.S economic downturn grappled the nation, many areas are still trying to climb their way out. The financial collapse on the education system has made it difficult for states to maintain competitive academic standards and the high school graduation rate which is a key strategy for economic growth is at an all time low.
Catherine Rampell of New York Times reported that only 74.9 students of the 2004 freshman class graduated on time in 2008. There was also a variation state by state, and a difference among ethical and racial backgrounds. For example, in Nevada just 51.3 percent of 2004 freshman students graduated in 2008. Additionally, only 61.5 percent of black students graduated as compared to the 91.4 percent of Asian Pacific Islanders.
A key strategy to strengthen the economy may be to produce reformatory ideas in education. America cannot continue to do the same thing while desiring to produce a different result.
Gaston Carpenter, of The Huffington Post, found that the importance of a college degree is growing, while the ability to compete in the U.S is lessening. To tackle this matter, The College Board released an agenda detailing their goal to ensure at least 55 percent of young Americans earn a college degree or higher by 2025. Carpenter’s finding showed that as of 2010 no state has achieved this goal.
Although the U.S as a nation still remains the worlds largest economy, with a per capita GDP of $47400, the largest military, vigorous technology companies and entrepreneurial climate, there is a lot of work that must be done to remain in the driver’s seat.
In the March 03, 2011 article, Time reporter Fareed Zakaira found the decisions that created years of prosperity and achievement in the U.S especially in education were made decades ago. “America is living on policies and developments that were created in the 1950’s and 1960’s.” While countries, such as Asia, have become colorful peacocks in implementing modern policies that reflect a global leader today and to become more competitive in science and medicine tomorrow, the U.S. still hangs on to outdated tradition that is a tired and failing grayscale.
Recent reports show the U.S ranking is 12th among developed countries such as Russia, Japan, and Korea in college graduation. This illustrates that the world has changed significantly since the 50’s and 60’s and the U.S. will have to undergo a serious makeover if they are to regain their competitive edge and the number one spot in the world.