The Next Bubble to Burst – Higher Education?
This article from the Chronicle of Higher Education has been getting a good deal of attention at schools across the country. It certainly addresses the problem of increasing costs for higher education. The authors’ statement that “Consumers who have questioned whether it is worth spending $1,000 a square foot for a home are now asking whether it is worth spending $1,000 a week to send their kids to college” does get the reader’s attention.
I think the more interesting aspects of the article have to do with Pat Callan’s worry that “low-income students will find college unaffordable.” There are really three “e” phrases that jump from the article: economic downturn, equity of access, and efficiency. Certainly the convergence of increasing costs and economic downturn could cause some unexpected outcomes. The idea that higher education would only be available to the economically privileged would be a major setback for a nation that is only beginning to achieve equity in access. And, it is obvious that colleges and universities need to become more efficient in order to maintain current costs, if not reduce them.
Perhaps the bubble may burst—what do you think? Please feel free to leave a comment.
Mike
Share This3 Responses to “The Next Bubble to Burst – Higher Education?”
Paul Says:
I think the education bubble is a long time coming. Beyond any considerations for new technologies that enable learning from home and on the go, I shake my head in disbelief at the cost of attending universities on-site. Many degree programs are so expensive now it’s not uncommon for someone to have over $100,000 of education debtafter graduation. Further, many people justify not going to college because of the exorbitant costs. I know individuals who intend not to pursue higher degrees due to costs and concerns for family (something you stated as well). This is a sad state of affairs if the US is to remain competitive globally.
Regarding the lesser known community colleges, I think these schools are hidden treasures. Many (including one in my local area) have programs that are more respected and valued than similar programs at local state universities. My own siblings are pusuing their degrees by taking as many community college credits as posible, and only attending the local university for specialization courses. There are other benefits as well, but CCs are a great resource. Having attended a few myself for specific interests, the quality of isntruction is certainly high, and they fits my needs very well.
Like you, I see education as a paramount necessity for a robust, fully functioning society. Education cannot be put on a pedastel that only a few can achieve. Education surely costs money, and costs like property and operations go up gradually over time. But we cannot survive as a society if post-HS education is insurmountable financially. I’m glad to see that technology (and a dash of infrastructure) is filling some gaps, but something needs to be done to make the typical U more accessible.
Mike Offerman Says:
Beverly and Paul, thanks to each of you for your comments.
Mike
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Beverly Gaines Says:
Great article! The subject of affordable higher education is an immense issue that needs to be tackled. I recently read an article about my alma mater, the University of Florida, which stated that they are increasing their tuition costs and that due to this there will be a number of students who will not be able to attend. The University of Florida, while expensive, had lower tuition costs than other colleges. However, due to the pressure to remain competitive, they must raise their tuition to match other colleges. I, thankfully, recieved scholarships that covered my higher education costs, but with the economy at a downturn and fiscal resources allocated elsewhere, there are not enough scholarships to go around. At this point, consumers must be economically savvy about where they spend their money. There must be an examination of the long-term benefits and weaknesses.
In talking to my cousin, who is on her way to college, her choices were not which is the better school but which school she, and her parents, could afford. While this may seem a sacrifice that no individual should have to make, it is the realistic outlook on what one has to expect at this point. The affordability question now supercedes the quality of education. In my opinion, the day that college becomes unaffordable and inaccessible for the masses, the closer we will come to declines in many arenas of society. It should be the duty of the higher education constituents to make sure that education is readily accessible to all, that everyone who wants to attend college is able to do so.
July 15th, 2009 at 1:51 pm