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