Top-5 Non-Obvious Problems in Education the World is Facing Right Now
Education inequality — real issue or just another myth? Let’s look at the facts.
The 21st century is viewed as the era of democracy, digital technology and endless improvements in quality of life. And it’s true: just imagine, 30 years ago, studying at home at your computer seemed like distant science fiction, and now it’s a normal part of life. However, it’s not all as peachy as most people in developed countries perceive. Let’s take a look at the numbers.
#1. Up to 825 million young people will not have the basic literacy, numeracy, and digital skills to compete for jobs by 2030
Today’s generation faces a radically changing world. Of course, each generation has its own economical challenges and social issues, but the COVID-19 pandemic has left an unprecedented impact throughout the entire world.
The Future of Jobs Report, 2020, World Economic Forum:
“Jobs held by lower wage workers, women and younger workers were more deeply impacted in the first phase of the economic contraction. Comparing the impact of the Global Financial Crisis of 2008 on individuals with lower education levels to the impact of the COVID-19 crisis, the impact today is far more significant and more likely to deepen existing inequalities”
With many of the world’s low-skilled jobs most susceptible to automation, developing economies will be at greater risk of technology-induced unemployment. This is an issue as old as progress itself, and the further we go, the more complex the solutions get. In the past, many economies had a relatively easy fix to grow, like moving excess farmers to factories, which didn’t require too much additional training. In the future, it won’t be so easy.
New growth models will require high-skill workers, which the education infrastructure in developing economies struggle to provide. Changing global demographics will only make this challenge more difficult — countries showing the greatest population increases are struggling the most with education.
#2. Education is hugely under digitized, less than 4% of global spending going towards tech
As a sector, digital education today is on the verge of going backwards. Less than 4% of overall spending gets allocated to digital education, and this will present serious issues in the very near future. The knowledge economy and in-demand skills of the future require massive digital transformation, and even though the pandemic gave that a huge boost, we’re still lagging behind.
Forecasts say that by 2025, only $12.6 billion in education will be allocated towards AR/VR tech, and an even smaller $0.6 billion towards blockchain. Meanwhile, these are the skills especially valued by students.
The Future of Jobs Report, 2020:
“Those who are unemployed have placed greater emphasis on learning digital skills such as data analysis, computer science and information technology”
#3. Out-of-school rate for upper secondary school age girls from Africa, Latin America and Asia is still 20% and higher
Gender inequality is different in every region. Many developed countries are fighting to ‘break the glass ceiling’ in the workplace and in many developing countries, millions of women don’t even get the basics like upper secondary education.
A big part of this issue is early marriage, childcare, taking care of family members, and widespread hard labor options that don’t require a high school diploma, let alone higher education. In most instances, marriage and childbearing means the end of a girl’s formal education. This leaves women especially vulnerable to under-education.
#4. More than 23 million students worldwide are at risk of not going back to school because of the COVID-19 pandemic
Yes, even the lucky kids who make it into school or college are now at a huge risk of not completing that education. This is an entire Megapolis of kids from pre-primary to tertiary who are forced to quit learning because schools are physically closed, and they have no access to online education. And it’s not just about low access to computers, it’s about the challenges that adapting traditional education to online models presents.
UNICEF Executive Director Catherine Russell:
“This rising inequality in access to learning, means that education risks becoming the greatest divider, not the greatest equalizer”
#5. Student loan debts worldwide amount to trillions of dollars
Millions of students worldwide are forced to take out giant loans to get an education, and this is a rare education issue hitting developed countries just as hard. This is especially highlighted in the US — the country’s overall student debt reached a record $1.6 trillion. To put it into perspective, this is equivalent to Canada’s GDP!
However, this isn’t exclusive to the US. Similar issues exist in Africa and South America, says former United Nations Population Division director Joseph Chamie. He suggests several reasons for high student loan debt: one is that employers everywhere have increased their demands for skilled workers, making higher education a must for many jobs, driving more people to seek higher education than ever before. Rising tuition costs also contribute to this issue.
While student loans aren’t a problem in itself, and are a great way for kids from different backgrounds to access expensive education, traditional higher education is no guarantee of a good, well-paying job. For example, about 28% of four-year degree holders in Malaysia were unemployed in 2015, despite all the time and money they put into their education. The return on investment for higher education has significantly dwindled.
Joseph Chamie, former United Nations Population Division director:
“A lot of them, when they’re finishing, are either unemployed or underemployed, so their ability to pay back the loan becomes a problem”
At Equalt, we believe that cutting-edge technology, stable partnerships and financial independence can become the first steps in solving these issues. We have a long and exciting way to go — towards a new economy, a new market, and new bold decisions. In order to bring it to reality, we aim to provide Learn & Earn educational programs to millions of young people all over the world.
