Back to School—A Critique of the College Model \ stacker news ~econ

Back to School—A Critique of the College Model mises.org/power-market/back-school-critique-college-model

342 sats \ 20 comments \ @Undisciplined 17 Sep econ

By Conor Sanderson

Without market forces reigning in costs, colleges have almost no incentive to get creative or reduce their expenses. As a result, many students graduate with enormous debt, and many without even securing jobs that justify their investment.

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404 sats \ 7 replies \ @Krv77 17 Sep freebie

Without reading the article, I predict that as the government payouts become less and less due to inflation, coupled by lower enrollments, the smaller colleges will begin to reduce in number. Then, the larger colleges will soak up the students the smaller colleges lost. However, the large ones will still be feeling the crunch of lower enrollments and reduced spending abilities. Thus, they will have to massively downscale. This might be where free market / practical education options might see an opening. If a business can create shorter, more condensed, more results focused education option, it would be appealing to those who can't afford multiyear expensive colleges that focus mostly on theoretical concepts.

21 sats \ 5 replies \ @Undisciplined OP 17 Sep

If you take the top 50 or so colleges, their enrollments have been pretty steady since just after WWII. My guess is that there will continue being plenty of enrollment for them, especially factoring in international students.

Other than that, I think we will see much of what you describe and are already seeing some of it.

38 sats \ 4 replies \ @Bell_curve 18 Sep

Enrollment has been steady for the top 50 since 1945?

Where are the excess students going? The bottom 150?

21 sats \ 3 replies \ @Undisciplined OP 18 Sep

Don't hold me to that precise year or cutoff, but for many decades it has been true for big established universities.

There are thousands of small colleges. I think there were upwards of 8k at the peak and a few thousand have closed.

34 sats \ 2 replies \ @Bell_curve 18 Sep

But what about large state colleges like university of California system?

I think enrollment has increased since 1950 or whatever year

I will do some research

Edit: https://www.statista.com/statistics/184260/educational-attainment-in-the-us/

https://www.universityofcalifornia.edu/about-us/information-center/historical-enrollment

I don’t have access to a computer right now. This site has a lot of relevant data , I think

21 sats \ 1 reply \ @Undisciplined OP 18 Sep

That's probably right. I'll retreat to the 70's, as that's probably more widely applicable across the nation. On the eastern side of the country, most of these schools' enrollment plateaued after the GI bill, but the West Coast was still growing rapidly.

33 sats \ 0 replies \ @Bell_curve 18 Sep

That makes more sense

I remember thinking that ucla was a lot smaller in 1970 vs today. Even vs 1990

0 sats \ 0 replies \ @bature_ 18 Sep

Indeed, "a result focus education option" is what is necessary.

35 sats \ 1 reply \ @Bell_curve 18 Sep

This model is broken

Student Loans should not be subsidized by the federal government

Colleges should be on the hook for delinquencies

21 sats \ 0 replies \ @Undisciplined OP 18 Sep

Mitch Daniels proposed that when he was president of Purdue. That would clean up financial aid abuse immediately.

56 sats \ 3 replies \ @Malachi17 17 Sep

The college bubble is a well-known phenomenon. It's imminent bursting has been mentioned at many points. At some point, it will, then things will get interesting.

31 sats \ 2 replies \ @Undisciplined OP 17 Sep

It's more of a slow deflating than a bursting. College enrollments have been declining since about 2016 and thousands of smaller colleges have shut down.

47 sats \ 1 reply \ @Malachi17 17 Sep

In part, that was because there was no budget for "COVID forever". Some places got grants, or state money, others did not.

31 sats \ 0 replies \ @Undisciplined OP 17 Sep

The trend was already well established, but that helped accelerate it.

61 sats \ 3 replies \ @grayruby 17 Sep

Music Territory is the captain of this post now.

cc: @Public_N_M_E

40 sats \ 1 reply \ @DesertDave 17 Sep

When I saw this post title I was going to come post a link to this song. You beat me to it. One of my favorite albums, definitely my favorite deftones. Takes me back. Sooo good.

32 sats \ 0 replies \ @grayruby 17 Sep

That is an amazing album. Classic. I like prefer Pink Maggit but Mini Maggit is good too.

10 sats \ 0 replies \ @Public_N_M_E 18 Sep

🤣🤣 excellent work GR. Good choice.

21 sats \ 0 replies \ @dagny761 18 Sep

My family watched an episode from The Tuttle Twins called “College Conundrum” (Season 3, Episode 1) to start talking with our kids about how not everyone needs a college degree to pursue meaningful work in a full and exciting life… Very helpful for parents to have the discussion of the value of college- both my husband and I came from families that insisted a college education was expected and vital for a career.

0 sats \ 0 replies \ @sangekrypto 18 Sep

Now job vacancies in your own country are sometimes difficult, but in other countries there are those who accept them, of course far from your relatives, depending on our skills and experience too, so make more friends with people out there, so that there is an opportunity to get a job. jobs arise from information from your own friends. .