Overeducation imposes several costs on a society that we will discuss in this page. Some of these costs are born by the the overeducated individual and some fall on the shoulder of the local or national community. Some costs of overeducate are financial but there are also some emotional and non-mpnetary costs. Some costs and consequences of overeducation are political. For example when there are too many college educated citizens that can not find suitable jobs, the risk of social and political instability increases. Overeducation can also impose a moral cost on society as it creates opportunities for corruption, nepotism and exploitation in employee-employer relations. We will categorize and discuss various costs of overeducation below.
1) Job Dissatisfaction: An advanced education and a college degree increases a worker’s expectation. However, when a college graduate can not find a job that matches his skills and education he will be frustrated and will be dissatisfied with the job that he is able to find. He would feel overqualified and might even feel underapprecaited. These feelings can eventually lead to social discontent if shared by many workers.
Links to Websites on Economics of Higher Education