Higher Education: The Next Bubble to Burst?
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Amber Johnson of Accredited College Online thought that BioJobBlog readers might be interested in an article that she authored entitled “
From elementary to college, schools around the nation have felt the recession in many different ways. As the economy sinks, the educational demands rise. Teachers are holding on to dear life for their jobs, students are struggling to pay for college and the states are running out of school funding. But even with all of these economic woes, there are still people eager to teach and happy to learn.
- Budget Cuts. Since the beginning of the fiscal year, the U.S. has suffered a 5 percent drop (about $4 billion) from the amount of money state governments apportioned for higher education, according to a U.S. News & World Report article. This is directly affecting universities across the country, who’ve seen larger class sizes, less professors and counselors, as well as canceled courses, which experts say could "threaten the quality of education."
- Spike in Tuition. College tuition has been an inevitable hurdle for many students and families for years, but in this recession, it stings that much more. Since 1982, college tuition and fees have increased 439 percent, which is about three times higher than the increase in family incomes, according to an ABC news report. In some cases, tuition increases are the school’s response to more financial aid requests, but these scholarships may not be enough to cover soaring prices.
- Decline in Aid. Many states are cutting college financial aid programs when students need it most. An increase in unemployment and financial losses has caused 620,000 more students to apply for federal aid in the first quarter compared to last year. An Associated Press article reports that without financial assistance, students may be forced to drop out, transfer or be laden with debt.
- Decline in Endowments. A major factor in these educational downturns is the decline in college endowments. Big and small donors simply aren’t giving back right now, which has caused hiring freezes, cutbacks on financial aid and halted construction projects, according to a Wall Street Journal article.
- Graduate in Three Years.Graduating in three years is a surefire way to slash college costs. American colleges are now starting to offer three-year college degrees, which is the normal time frame for many British and Canadian students. It’s an upcoming trend, according to CBS MoneyWatch, that could make "elite education" more affordable.
- More Kids Are Going Public. According to a CBS News report, private school enrollments have declined as many students make the switch from private to public schools. While some continue to pay top dollar for private school tuition payments, others have had to transfer to less prestigious schools to save money.
- Arts Programs Suffer. With devastating budget cuts on the agenda, college art departments are the first area to be altered. According to a New York Times article, students can expect to see fewer teachers, programs and courses in the arts when they return to campus in the fall. While some colleges are phasing out programs altogether, others, like Louisiana State University, are holding off on new computers, production technology and traveling for conferences to lessen their demand for funding.
- Growth and Decline of Majors. For college students, choosing the right major during the recession may secure a stable career in the future. Certain industries, such as journalism, entertainment and finance should be avoided, according to a report by College Finance 101, because they have seen the most turmoil during the recession.
- Higher Community College Enrollment. With the recession at its peak, many college students have opted for the more affordable institutions — community colleges, according to The Chronicle of Higher Education. However, this influx of students has caused some community colleges to turn them away, claiming there’s not enough room, teachers and accommodations at these campuses.
- Distance Learning is More Desirable. A big thing hitting the economy is online education. Whether people have lost a job, are fearful of losing one or want a degree, online colleges have open seats. A CNN report, titled "Riding out the recession in a virtual classroom," touches on the idea of investing in education during troubled times to have a back-up plan and find the right career path for you.
I the promotional writer and marketer for Robert Applebaum's Forgive Student Loan Movement. (I do this work as a volunteer - took Obama's call to service VERY seriously!)
I'm investigating HUGE things related to this too.
My blog - Education Matters - just covered a HUGE story about a Dept. of Ed researcher who has just filed a law suit . . .
read it here:
http://alleducationmatters.blogspot.com/2009/09/breaking-news-our-dept-of-ed-gman-hero.html
Some of these trends are good. They are the necessary purging of flawed thinking. Reality exerting its irresistable will over inane and incongruous sophistry.
Let's be honest, the education establishment is big business. It's loaded with greedo CEOs who are no different than their counterparts at any big defense contractor.
They have been robbing the public for years:
1. They steal time and money from students, promising a profitable ROI on their investment of time and tuition. This ROI is usually exaggerated, and is even worse for useless majors like journalism, social work or leisure studies.
They purposely mislead students into believing that they "need" a college degree, and that they're adept enough to earn one. This means that universities are now flooded w/ poor students that require remedial classes, reducing the education for everyone, all while raising expenses.
2. By making these promises they have increased enrollment, which allows them to increase tuition, fees, etc, because of the increased demand and limited supply.
3. Public institutions steal from their states, by reducing the number of workers, they reduce the productivity of a state, and put a higher tax burden on those who do work.
4. When faculty members and administrators criticize, and work to destroy the for-profit industries that pay for universities, they are renege on the promises of innovation and progress that they made to justify creating state universities. The self-destructive aspect is self-evident of the absurdity of the modern educator.