Harvard Business School professor: Half of American colleges will be bankrupt in 10 to 15 years

a reply to: wdkirk

That problem is though in states like California, you need a white collar job to actually live here. Ketsuko once said that due California being so expensive, many blue collar workers left the state. There is almost zero emphasis on blue collar jobs.

You really need to be in the tech industry, Hollyweird, medical field or have a corporate job to live there.

a reply to: starwarsisreal

While I agree that rising costs play a role, I also blame the rise of the SJW movement. In fact after the Evergreen college SJW fiasco, Lawmakers ended up cutting down funding for Evergreen. If colleges do not do anything about the SJW situation, then they won't last long in the long term.

Ding ding ding ...A good example to add to the mix is Jordan Peterson ...He is going online and has success .Not only with the quality of thinking well , but also in addressing the detractors

Things become obsolete, like video rental stores, Sears..... cursive writing...

originally posted by: olaru12
The Universities will eventually just be for kids from the wealthy elite families; it's almost that way now.

Of course. They will just need to downsize. Little rooms with caviar and cognac for snacks, the skies the limit. Some of my classes (the core courses) would have 200 or more people in them. Before long it will be 15, and we will recognize their last names.

But that's the way Trumpsters think it should be, right? The rich are better than the rest of us and deserve it. Doesn't matter at all how you got your money, by hook or by crook (or inheritance), as long as you got it, baby, you are to be elevated to the highest form of admiration. Even run the country!

Blah.

I paid 28k for a BS in IT system security from an online school that was highly rated and will help pave the way for me to get into federal service. (GI bill paid for every penny of it)

A friend graduated from a major university and spent north of 100k on a similar degree, and he is saddled with a lot of student debt.

So yea I agree with the professor most of these brick and mortar schools will fail in the future, its inevitable.

the price of a college education is a ripoff. When the additional lifetime earnings attributed to having that degree are spent paying off student loans from getting that degree.

originally posted by: roadgravel

originally posted by: lordcomac
So how do you figure when school cost less than 10% of what it costs today for the average student, that they weren't going bankrupt?

How has the cost of running a university gone up?
Maybe they're just paying their top staff too much.

Their use as training system for professional sports might be part of it.

Before people found out that they were raping children, Penn State football actually made money for the university.

originally posted by: Bluntone22
a reply to: Xcalibur254

I sure don't blame the sports programs.
You tell me where the money goes.

Check the Admin Building

a reply to: starwarsisreal

Im glad. Maybe out of the ashes we can get some good schools that arent trying to swindle middle class and poor people out of a couple decades worth of income.

Shameless theft.

originally posted by: Plotus
Things become obsolete, like video rental stores, Sears..... cursive writing...

Heh. My son (about 8) asked me to teach him cursive writing the other day. I was going to tell him he'll learn it when he gets older, but on second thought I'll be surprised if the school ever does teach cursive writing. There's really no need for it. God knows my cursive writing is chicken scratch.

originally posted by: AndyFromMichigan

originally posted by: Plotus
Things become obsolete, like video rental stores, Sears..... cursive writing...

Heh. My son (about 8) asked me to teach him cursive writing the other day. I was going to tell him he'll learn it when he gets older, but on second thought I'll be surprised if the school ever does teach cursive writing. There's really no need for it. God knows my cursive writing is chicken scratch.

It was dropped from public schools about four years back, around here.
I was surprised to hear it- but then I remembered learning it, and how useless it was. I knew when I was a kid I'd never use it- only question I've got is how will their signatures look.

originally posted by: acackohfcc
the price of a college education is a ripoff. When the additional lifetime earnings attributed to having that degree are spent paying off student loans from getting that degree.

Well but you have to consider things like, the power bill for a large university is $500,000 a month. And that stuff.

(okay, I made that sum up, but I worked in a large office once, and the power bill for that place (one building) was $40,000 a month)

originally posted by: starwarsisreal
a reply to: wdkirk

That problem is though in states like California, you need a white collar job to actually live here. Ketsuko once said that due California being so expensive, many blue collar workers left the state. There is almost zero emphasis on blue collar jobs.

You really need to be in the tech industry, Hollyweird, medical field or have a corporate job to live there.

Or be in the drug rehab business, or be a psychiatrist or psychologist. Seems like those stars go crazy a lot.
lol. The real money might be in treating pedophilia. Next big thing.

The best way to lower the cost of college is to simply get rid of student loans or place common sense underwriting standards on the loans. For example, if an engineering undergrad at MIT wants to take out $100k, most banks would take that risk. However, they'd laugh in your face if say you were asking for $50k to take women's studies at a community college. the MIT grad will get a good job upon graduation, not so much for the community college grad in women's studies. Their debt levels should reflect this fact.

Right now, there are no underwriting standards for student loans. As long as you can fog a mirror and show you are in school somewhere, you can mortgage your education regardless if there is any real career demand upon graduation or subsequent salaries would be enough to pay back that debt. I met a girl who had $350,000 in student loan debt and is making $50k. She will never make enough to pay that back in her chosen career. WTF?

In fact, what I'd do is make any college/university hold a portion of the student loan debt (i.e., they are on the hook for default). Anytime you can get debt to purchase something, it will result in price inflation.

By simply requiring the university to essentially sponsor the debt of its students, it ensure the university 1) wants to make sure it students get jobs post graduation and 2) contains the costs to mitigate the students risk of default.

Also, I've stated previously, there are really only about 30 or so universities/colleges in the US that are worth going into debt to attend. These are your top tier schools (Ivies and peer schools) where students (unless you are a first class idiot) will get jobs upon graduation.

I think this is referred to as the Sanders effect. a reply to: starwarsisreal

Well maybe if universities focused on whats important like educating people and not dumping most of their budget into their sports teams the dumbasses wouldnt be going bankrupt.

Get in where you fit in universities and go back to what your supposed to be doing. Teaching classes pertaining to the degrees you offer not forcing kids that do want to learn to subsidize your stupid football team.

Hey hears an idea... How bout you universities also take the money you havent squandered on your pointless sports teams and stop spending it on safe spaces and other prograns that dilude and shelter kids from the real world. News flash universities your job is to educate not coddle and baby sit.

originally posted by: eXia7
Yeah college has pretty much become a joke these days. With extortionate fees for lack luster education, The writing is on the wall. Also, as you mentioned with the advent of the SJW movement, it has pretty much ruined the appeal of going to a top college.

In the words of Rick Sanchez, school isn't a place for smart people.

i for one am glad that I finished college before it went full SJW. I finished grad in 2014, but around then it was already beginning to apex. I think grad school is slightly more subdued in this regard than the undergraduate population, in the same institute.

Even still, I'm not comfortable with the campus culture emerging on many campuses, including for schools I've always held in high esteem such as UC Berkeley. The current direction comes across to me to as ironically illiberal, in squashing free speech, demonizing open debate, enshrining safe spaces, and attacking anyone even administrators who deviate to the slightest degree from identity politics orthodoxy. It's not good, and these approaches undermine a rigorous, evidence-based, scientific, and rational education.

The concept of an educated person is no longer valued by employers.

They want you to have specific skill sets so you can produce for them from day 1. If you don't have they skills they want practice the following "Would you like fries with that?"

As this becomes more and more obvious to kids in high school enrollment in majors that don't give you the current skill sets in demand will decline. I'm pretty sure that many liberal arts colleges will go out of business.

Colleges that have strong STEM programs will continue. It will be survival of the fittest for colleges and Universities.