Higher Education Bubble Updates
1. Wikipedia now has an entire entry dedicated to the "Higher Education Bubble."
2. The Harvard Business Review blog has a new post on "The Business School Tuition Bubble."
3. The Pope Center for Higher Education Policy has a new article on "The Cost of the College Bubble."
6 Comments:
The problem is colleges/universities don't act like businesses and grow to meet demand. They are too selective and reject perfectly qualified students. They act more like private clubs. This makes no business sense, for they should strive to accept as many students as possible. They should grow to meet demand, and the supply growth will lower prices in the long term.
Naturally, the better the education, the higher the tuition. But everyone who can pay their way, should be admitted.
why don't Ivy league, or in demand colleges, construct campuses in every state? They should grow and compete for dominance of their brand of teaching. Instead, enrollment is rather flat. While their endowment funds grow by the billions.
This is a supply problem. Not enough colleges/universities teaching what students want, especially medical schools. Economic growth, and a new attitude toward education, where the consumer is king, can fix this.
I of course am very sympathetic. I'd really prefer to see a chart of net price paid, partitioned by the type of institution. The elite liberal arts colleges versus the top research universities versus the masters schools versus the public baccaulaureate versus even the 2 year colleges ...
Very interesting graph. I'm still trying to figure out how such a bubble would affect me, and how knowing about it will change my actions.
I'm curious as to why the internet (online classes) hasn't caused a decrease in tuition in this graph. Are online classes and schools taken into account in this graph?
would also like to see a similar graph on the cost of a hospital stay...
would also like to see a similar graph on the cost of a hospital stay...
I'm curious how virtually unlimited access to non-bankruptable student loans may play a part in this. I know many friends that spent $80k to get an education for a $30k position.
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