Enhance the payoff of a college degree
Too many students earn degrees in arts, literature and social sciences, while there's a shortage of math, science and engineering grads. And consulting firm McKinsey predicts that by 2020, there will be a shortage of 1.5 million college graduates. Parents and educators could do a much better job of guiding kids into fields where the jobs are, which would raise the payback for getting a college degree and encourage more to attend. Colleges could help by offering more three-year programs and other ways to cut costs.