Comments on: Is The College Bubble Next?

By: Mark

Mark — Wed, 03 Jun 2009 12:10:12 +0000

The internet currently doesn’t do one thing universities do, and that is certify that the student has completed a program of study. We will see a major change in university education in the next 10 years, with less dependence on buildings, more on technology, and a movement to better teach critical thinking skills and offer a broad education. We do have to get our costs under control while still offering a useful product.

By: Rob Moore

Rob Moore — Tue, 02 Jun 2009 14:36:29 +0000

This whole “bubble” debate only focuses on one type of institution (private elites) and ignores a whole raft of other factors, including a tuition discount rate that averages nearly 35% nationally, a lifetime-earnings ratio of 1.75/1 when comparing baccalaureate holders with those whose education stopped at high school, and the plethora of strategies for gaining a good degree at an affordable cost. To call it a bubble equates it with mortgage-backed derivatives, Bernie Madoff, and other examples of irrational exuberance in the market — when, in fact, a college degree is still the best path to financial security (not to mention the possibility of a broader perspective) that anyone has. And I speak as the holder of three degrees — all from mid-tier public universities. For more comments and links, see my blog at http://www.lipmanhearnecommons.com.

By: Sandra Foyt

Sandra Foyt — Tue, 02 Jun 2009 01:01:33 +0000

It took way too long, and cost way too much, but I earned a BA and graduate degree from Columbia University. I treasure that experience, and wouldn’t deny a similar experience to my kids if the opportunity presents itself.

However, I will encourage my kids to consider other options, including non-traditional education options. It’s certainly possible to learn a lot, and gain valuable experience, without ever stepping foot on a college campus.

By: Lura

Lura — Mon, 01 Jun 2009 18:25:21 +0000

Yes, the education bubble is about to burst.
The actual education you get in college is a standardized commodity. Is there really a difference in Econ101 at Harvard vs. Econ 101 at a community college? No, probably not.

Additionally, average Colleges were spending far too much on ivory towers and perfectly manicured quads. Not every school is an ivy-league school… so why look like it; and more importantly: why pay for it?

The marginal value of one school vs. another is in the other students and access. If you go to Yale, you might gain entree into Skull and Bones. But, if you are honest with yourself, probably not your kid. Your kid isn’t that stellar & doesn’t already have the social connections that would get him/her into the elite social groups anyway.

As an aside: the biggest mistake I ever made was spending as much on my education as I did. I was $100K in debt with two MAs in history on my wall. What a waste! I work in IT now. I love it, but I also had to… I would have never been able to pay that debt by working in the field of history.

Education is great… overpaying for it is stupid.

By: max

max — Mon, 01 Jun 2009 17:57:52 +0000

The internet is making college irrelevant. Colleges are like Playboy magazine. Why pay when you can get it online for free.
An odd analogy but an apt one.
Goodbye greedy elite edumongers. Hello free education for all.