posted on Sep, 30 2009 @ 01:10 AM
Will we see bankrupt states start shuttering universities they way they are already closing parks and libraries?
Will kids still want to take on ever-more debt when job prospects for grads seem bleaker than ever? (yeah, yeah "the point of a good education is to
make yourself a wiser person, not to get a job..." Tell that to all the unemployed grads with a quarter-of-a-million in debt around their necks.)
Will colleges start teaching useful skills that actually lead to real gainful employment?
Can people continue to finance their education in a "post-debt" economy? As the economy melts down, it is becoming increasingly obvious that
eventually, painfully or more painfully (depending on how willing we are to face the music), we won't be able to "borrow our way to prosperity"
anymore. Will this apply to education as well as to espresso machines and Escalades?
The Ivys and a few others are still stuffed with multibillion-dollar endowments, even after losing up to 1/3 of their portfolio...I imagine they will
trundle on for quite some time, but how about less storied institutions? Many are actually on the brink of ruin now, their endowments gutted. And if
hyperinflation kicks in, maybe someday even Harvard's 20-plus billion won't be enough to buy it a bowl of Pho noodles in Harvard Square.
Will schools remain the decadent "party zones" they seem to have become over the last 30 years, or will people buckle down and actually, you know,
study when they realize how grim things really are?
Just a few of the questions on my mind...
One thing is certain: Somehow, some way, the idea of "higher education" will have to change radically. But how? When? And along what lines?