Is Higher Education Broken?

Business people are discussing in the officeI am a big fan of Jeff Selingo, the author of College (Un) Bound and writer for The Chronicle of Higher Education. I am not the only fan. Jeff has more than 109,000 LinkedIn followers.

In an article published on March 25th, the author shares the following:

  • Approximately 50% of American students who enter college graduate. Among wealthy countries, only Italy ranks lower.
  • State support for higher education hasn’t been lower since 1965, when there were 16 million fewer students in the state system.
  • The annual costs at four-year colleges have increased three times faster than the rate of inflation since the late 1970s.
  • Student debt has surpassed a trillion dollars. (This does not include parent debt.)
  • About $110 billion in student loans was borrowed in 2011 alone.
  • There are about 50 million borrowers, more than the number of people on Medicare and almost as many who receive Social Security benefits.
  • Venture capitalists have invested $429 million into education companies in 2011.

I am pleased that the author agrees with many of the blogs I have posted over the past two years, including:

  • Students will attend more than one college before they graduate.
  • Students want to attend courses year-round. They want a flexible calendar.
  • Students want to take courses online and in a classroom (hybrid).
  • Assessment of outcomes will replace income statistics.

I recently read an article which reported that many college presidents feel that the worst of Great Recession is over. That may be. But there are residuals, in my opinion that will remain.

Parents cannot mortgage their homes and are unwilling to dip into retirement funds for their children’s college education. Costs and jobs are the new barometers of college selection and enrollment.

This entry was posted in Colleges, The New College Guide, Universities by Marguerite Dennis. Bookmark the permalink.

About Marguerite Dennis

Marguerite Dennis has been recruiting internationally for over 25 years, first at Georgetown University in Washington, D.C. and then at Suffolk University in Boston, Massachusetts. During that time she was responsible for establishing a branch campus for Suffolk University in Dakar, Senegal and Madrid, Spain. Marguerite increased the international student population at Suffolk University by 193% from 1993 to 2011 and increased the number of study abroad programs by 135%, from 20 to 47. She monitored the recruitment programs for Suffolk University in 20 countries and hired a network of 10 international educational consultants. She signed agreements in Viet Nam, Hong Kong, Kuwait, Germany, Mexico, France and Argentina.

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