Interesting video making the rounds …
Author Glenn Harlan Reynolds says:
“Bubbles form when too many people expect values to go up forever. Simply put, the cost of higher education has far outpaced its actual value. The bubble is going to burst.”
His punch line: The Higher Education Bubble Is Going To Burst.
Frightening, but worth watching …
Tags: higher education bubble
July 3, 2012 at 3:29 pm |
We live in a culture where college is just “what you do after high school”. It should hardly surprise anyone, then, that so many college students haven’t really considered the cost, don’t really have any real goals, and sort of drift through and get by. And colleges and universities across this nation have figured out that dumbing down courses and failing out as few of these paying customers as possible is a nice money-maker.
I don’t know if there’s a Bubble, i.e. I don’t know if tuition costs will ever crash like the dot-coms did or like housing prices in some areas did, but I do think you’re going to see more and more kids and especially their parents looking at the cost/benefit analysis of a particular school and a particular degree. In my town, we’re starting to see kids who were admitted to more prestigous (and more expensive) schools turn those down for something cheaper. That would have been virtually unheard of 20 or even 10 years ago. I also think you’ll see more kids opting for things like community college for the first two years, or things like trade work (plumbing, electrician, etc) as suggested by the video.