-More people are going to school
-University costs have skyrocketed (mostly due to expanded administration services), which has increased the need for students to secure loans
-Wage growth has been low/flat for a long time
-A college degree has replaced a high school diploma/GED as a minimum requirement for most middle class jobs
-New grads are coming out of school to lower paying jobs relative to the cost of their education than ever before, driving defaults.
-As college matriculation becomes more and more necessary, even great high schools pivot towards a goal of getting students into college, instead of providing them great educations which have a secondary effect of getting them into college. Further decreasing the value of high school as someone's highest degree of education.
The last one is very worrisome for me, and something I hear a lot about. I have family and friends who are college professors - even those at ivy league universities are saying their students are just as smart as before, but on average now they're not as generally educated and way less prepared for serious academic work. They can't handle the same work loads, don't write or research as well, require more oversight/direction - things like that.
How do you fix that without blowing everything up and probably destroying the lives for a huge group of people who's only crime was being born in a certain set of years? Not to mention the economic implications of an entire generation going into middle age already carrying massive debt - how are they going to generate asset wealth?
A huge number of millennial college students who weren't fortunate enough to graduate into a tech career between 2007-2011 already went through this. It wouldn't be anything new.
>Not to mention the economic implications of an entire generation going into middle age already carrying massive debt - how are they going to generate asset wealth?
I mean...this is already happening. I'm not sure what you're getting at here. "Blowing everything up" is the only way to stop this cycle.
My questions are: Can we do something about to reverse it? If not can we do a "controlled demolition"? Is there even anyone in a position to do anything / is the train accelerating with no breaks and no one at the helm?
My daughter is 13 and wants to go to college, but only because TV says that's where you go to meet boys and get married.
Sweetbriar: https://www.nytimes.com/2015/04/23/fashion/the-independent-w...
The very top will survive the cuts in federal funding, but research at lower tiers won't survive. The larger sectarian colleges will survive, the smaller ones will die. Notre Dame will remain, Seton Hall and the Franciscan University of Steubenville will go away, that's a good thing.
The bubble of it may pop, but I'm not clear how it hurts anyone but the banks and colleges. Students who can't pay will continue not having any money to pay anything with, and that needs to be addressed, but it doesn't seem like the same scale as the mortgage crisis.