Scholarship News

Report: Millions of Millennials Are Underemployed or Unemployed


May 20, 2014
by Suada Kolovic
It wasn't too long ago that the majority of Americans agreed that one had to pursue a college degree in order to succeed in the workforce. Unfortunately for millennials, the rate of success after obtaining said degree is no longer so intrinsically tied: According to multiple reports, millions of college graduates suffer a mismatch between education and employment and hold jobs that don’t require costly degrees.

It wasn't too long ago that the majority of Americans agreed that one had to pursue a college degree in order to succeed in the workforce. Unfortunately for millennials, the rate of success after obtaining said degree is no longer so intrinsically tied: According to multiple reports, millions of college graduates suffer a mismatch between education and employment and hold jobs that don’t require costly degrees.

Among recent college graduates ages 20 to 29, the Bureau of Labor Statistics reports unemployment stands at 10.9 percent, more than three points higher than in 2007. While a study from the Federal Reserve Bank of New York found that of those recent college graduates who have managed to find work, more than 40 percent hold jobs that do not require a college degree; more than 20 percent are working only part-time; and more than 20 percent are in low wage jobs. Canadian economists Paul Beaudry and David Green of the University of British Columbia and Benjamin Sand of York University have documented a declining demand for high-skilled workers since 2000. They say, "high-skilled workers have moved down the occupational ladder and have begun to perform jobs traditionally performed by lower-skilled workers ...pushing low-skilled workers even further down the occupational ladder and, to some degree, out of the labor force altogether." If correct, their work might just turn conventional wisdom on its head. (For more on this story, click here.)

Do you think that a college degree is necessary for gainful employment and upward mobility? If so, check out our college search tool to find detailed information on more than 7,000 colleges including admission statistics, tuition and fees, financial aid and scholarships, academic majors and more. Not sure where you want to go to college? Check out our College Matchmaker.

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There are a lot of scholarships out there, some more conventional than others. Last time, we discussed a scholarship for students interested in becoming part of the chicken industry, but even that scholarship is far from the weirdest. There are some scholarships out there that have unusual criteria, to say the least. It may be based on something totally out of your control, like your height or last name. It may be awarded on how much you like a card game, or to whomever comes up with the most creative way to use a household product. It may even be for students interested in… potatoes? No joke, these five scholarships are some of the weirder ones on our site. Are you weird enough to apply?

Scholarships.com's Weird Scholarships Part Two

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by Izzy Hall
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A Scholarship for Chicken?

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by Izzy Hall
There are scholarships for everything on Scholarships.com; for every major, every community and every kind of student. In fact, we even offer a scholarship for students interested in the chicken
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College to Offer Half Price Tuition for Fall 2021

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by Izzy Hall
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by Izzy Hall
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Look Ahead: Our 2021 Scholarship Preview

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by Izzy Hall
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Guide to Prioritizing Scholarship Applications

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by Izzy Hall
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Charity Raises Money for HBCUs with Esports Tournament

December 15, 2020 11:34 AM
by Izzy Hall
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Tonight is the first night of Hanukkah, the eight-day festival of lights celebrated each winter by Jewish families. During Hanukkah, menorahs are lit, latkes are fried, dreidels are spun and chocolate coins are eaten. If you’re celebrating Hanukkah this year, take some time to apply to these eight Jewish scholarships – one for each night! You’ll give yourself a chance to win a “present” of free financial aid for college.

Celebrate Hanukkah with Eight Jewish Scholarships

December 10, 2020 1:48 PM
by Izzy Hall
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