As of 2021, the Federal Reserve estimates that US college graduates have a combined $1.73 trillion in student debt, a 91% increase over the last decade. The average college graduate walks away with $28,400 in federal and private debt with their degree. Moreover, 11.1% of students are 90+ days delinquent or in default on their loans. While college debt is at record highs, trade schools and skilled labor forces struggle to hire workers. According to the Bureau of Labor Statistics, 8 million professional jobs were lost due to the COVID-19 pandemic, while only about half have been refilled. A pre COVID study found that just 11% of young Americans see skilled jobs as high-paying and secure, fueling the lack of filled roles.
Adding To, LLC is requesting a grant of $79,000,000 to develop a Construction and Engineering Career Development Training (CECDT) program to create a skilled labor workforce to meet today’s demand and ensure future labor shortages do not exist.
