Gen Z not seeing point of degree
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I can imagine it falls into a few additional camps:
Wise to the fact that a Tertiary degree is hardly worth the paper it's printed on (Prior work experience and/ or established professional connections have exponentially more value)
A tertiary degree in field X doesn't guarantee a career in field X. Hell, in many cases it is an active detriment (Figure that out).
The tertiary system could do with a massive downsize. If Government is going to be involved in education, it needs to massivley focus its scope on what the nation truly, desperatley needs to survive and thrive and put tertiary funding towards those fields. People also need to reasses the "prestige" of tertiary qualifications. You don't need a degree to succeed.
A part of college used to be making connections with people for projects. Since most of that can be done online and the schools only allow you to meet specific people, it loses that quickly.