SEOUL, Dec.22 (Korea Bizwire) – A new generation called the ‘NG’ generation in growing in prominence. ‘NG’ is short for ‘No Graduation’, and refers to college students who postpone their graduation to prepare for employment. Last year the number of students who postponed their graduation exceeded 20,000.
Since it is difficult to get a job in the current economy, many students are postponing graduation to remain ‘students’ until they get employed. One quarter of the total are not active economically, depending on their parents for financial matters. Due to the growing numbers in the NG generation, schools are giving them disadvantages to make matters worse.
Because it is thought that ‘students who will graduate’ have a higher prospect of finding employment in the job market, the number of students who have fulfilled their graduation requirements but postponed graduation has reached 25,000.
According to a survey conducted by ‘Alba Heaven’, a portal site for job hunting, 55.1 percent of the respondents (631 college students) answered that they would postpone graduation if they could not get a job. Compared to the same survey conducted 2 years ago, the percentage increased 34 percent, showing that the pressure of finding employment is increasing under the current economic conditions.
‘Being a current student is an advantage for job hunting’ was the biggest reason those in the NG generation postponed their graduation (29 percent). ‘To experience everything before graduating’ ranked second (25.8 percent), followed by ‘to concentrate on gaining more qualifications such as awards or foreign language certificates’ (20.9 percent), ‘to procrastinate going into society’ (18 percent) and ‘to get more information on job hunting from professors and seniors’ (5.8 percent).
On the other hand, among those who did not want to postpone their graduation ‘remaining a student would make me feel left behind’ was the biggest reason (34.9 percent). ‘The tuition is too high’ (25.3 percent) ranked second.
As those in the NG generation have decided to remain at school, they are experiencing disadvantages. They still pay tuition just to remain students, even if they don’t take courses, and are restricted from using school facilities such as the library.
In terms of money, 44.7 percent answered that they ‘get allowance from their parents but earn more doing part time jobs’. However, 24.3 percent were dependent on their parents and not economically active.
Among the respondents, 15.5 percent answered that they make money by working part time, but 10.7 percent said that they depend on loans, and 1.9 percent had credit card debt. It is a slippery slope, as postponing graduation could lead to debt and poverty, dragging them into a vicious cycle.
By Francine Jung (email@example.com)