Wednesday, December 11, 2013

An alternative to a university education

Many American parents face this dilemma. Do I spend $200,000 to send my son or daughter to college (i.e. university) or should I keep it for my own retirement?

The problem is - after spending the money, the graduate may not be able to find a suitable job that can earn enough to pay back the money invested by their parents.

The student can take a loan from the government, but also has to pay back the loan with interest.

The high cost of university education will be a drain on the finances of many families, and may be a bad investment.

This problem is now being faced by many parents in Singapore.

There should be a way for people to find a good paying job, without incurring this high cost.

The German system of apprenticeship should be implemented in Singapore. It allows young people to opt for a career that suits their interest and ability, and to acquire the skills in the workplace under an apprenticeship system. On completing the apprenticeship, they are assured of a job from the mentoring employer.

This method will produce people with the technical skills that are needed in the workplace. Apart from manufacturing jobs, they are suitable for accounting, administrative, customer service and other office based jobs.

I hope that our leaders aer aware of this problem and are open minded to look for a possible solution.

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