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The Ever Inflating Higher Education Bubble
The accessibility and efficacy of a college education ain’t what it used to be. Glenn Reynolds, aka, Instapundit, (who is a law professor) offers a video that looks at the issue:
3 Responses to “The Ever Inflating Higher Education Bubble”
High administration costs, resort-like campuses, and cheap loans are all related. All it would take is a return to the classic criteria for determining loan amounts — the value of the education. It’s an obvious fix, and has been proposed before, but lawmakers aren’t aware, and the education industry would fight the loss of their gravy train.
There are natural bubbles, but they end as soon as the buyers or investors realize that it’s a bubble. Now, there’s no way out until the federal government fixes the problem. It’s going to be a long wait.
It would be interesting to see what a truly non-profit online university could do to cut costs. One big factor would be doing something, anything, about text books. Their price is even more ludicrous than hundreds of dollars per credit hour for classes.
My wife teaches at a uni that does not have tuition fees and has a very healthy book exchange.
Just think about it…. getting an MD without student loans…it is almost unthinkable.