From DSC:
I was originally going to write this blog posting back in late July, when I read the first paragraphs of a solid article by Laura Pappano at the New York Times entitled, “The Master’s as the New Bachelor’s.”  At that time, I couldn’t help but think…“Houston we have a problem.”

(Disclosure: I completed my Master’s of Science in
Instructional Design for Online Learning in June 2011 from Capella University.)

Excerpt:

William Klein’s story may sound familiar to his fellow graduates. After earning his bachelor’s in history from the College at Brockport, he found himself living in his parents’ Buffalo home, working the same $7.25-an-hour waiter job he had in high school.

It wasn’t that there weren’t other jobs out there. It’s that they all seemed to want more education. Even tutoring at a for-profit learning center or leading tours at a historic site required a master’s. “It’s pretty apparent that with the degree I have right now, there are not too many jobs I would want to commit to,” Mr. Klein says.

Then, fast forward to today when I was further reminded to contact Houston Command Control Center (metaphorically speaking) when I read Jennifer Lee’s article in today’s New York Times entitled, “Generation Limbo: Waiting It Out“.

Excerpt (emphasis DSC):

“We did everything we were supposed to,” said Stephanie Morales, 23, who graduated from Dartmouth College in 2009 with hopes of working in the arts. Instead she ended up waiting tables at a Chart House restaurant in Weehawken, N.J., earning $2.17 an hour plus tips, to pay off her student loans. “What was the point of working so hard for 22 years if there was nothing out there?” said Ms. Morales, who is now a paralegal and plans on attending law school.

Some of Ms. Morales’s classmates have found themselves on welfare. “You don’t expect someone who just spent four years in Ivy League schools to be on food stamps,” said Ms. Morales, who estimates that a half-dozen of her friends are on the Supplemental Nutrition Assistance Program. A few are even helping younger graduates figure out how to apply. “We are passing on these traditions on how to work in the adult world as working poor,” Ms. Morales said.

The journey on the life path, for many, is essentially stalled.

 

The reasons that I say that we have a problem here in the world of higher education are probably already clear, but to further elaborate on them (with the lenses of my past experience):

  1. Why should I pay ~$55,000 a year$54,763 for just the 2011-2012 academic year — to go to Northwestern University, only to find out that my $220,000+ investment doesn’t land me an excellent, top-rate job? Are we saying that a degree from NU’s College of Arts & Sciences (CAS as it was known in my day) is not enough of an investment to get a good job? Are we now saying that I need another degree before I can start paying off my ever-mounting debt? (i.e. that gorilla on my back that continues to gain weight and has implications for the types of jobs that I now have to go for, whether I like them or whether I am gifted for them or not)
  2. How convenient for corporate HR and hiring managers to be able to ask for the moon yet again — while often not lifting a finger to help these students/potential employees pay for that education! My experience was that corporations always wanted to have their new employees hit the ground running.  But with a crowd of people applying for each open position these days, I would be very interested to see the data on:
    • What % of today’s corporations are actively helping folks obtain the advanced degrees that they are requesting?
    • What % of the time these corporations do this?
    • What % of their employees do such corporations provide this type of assistance for?
    • What % of the degree — or up to what $$ amount — do they pay for?
      .

      Perhaps it is all to easy and convenient — and good for shareholders — during tough economic times to place all of the burden on the backs of the students/future employees; perhaps there are few incentives for companies to change the way the game is played.

      .
  3. Speaking of incentives…how convenient for higher education to go along with this trend as well.  After all, who wouldn’t want to support an environment that contributes to continued enrollments?

 

So…that’s why I say, “Houston, we have a problem.”

  • This type of phenomenon and economic environment seems to be stoking the growing dissatisfaction against the costs involved with obtaining a degree within higher education and the perceived/real return on such an investment.
  • Though “times might have been good” these last few decades, such times may be coming to an end; change is in the air..
  • How should we respond within higher education? Within the corporate world? How can we help more students/prospective employees obtain their college degrees?

 

The impact of new business models for higher education on student financing

Financing Higher Education in Developing Countries
Think Tank | Bellagio Conference Centre | 8-12 August 2011

Sir John Daniel (Commonwealth of Learning)
&
Stamenka Uvali-Trumbi (UNESCO)

Excerpt:

The aim of this paper has been to suggest that in discussing student financing we need to look beyond the current standard model classroom teaching to the likely developments in learning systems over the next decade. These have the potential to cut costs dramatically and thereby lessen the challenge of student financing.

That is fortunate because nearly one-third of the world’s population (29.3%) is under 15. Today there are 165 million people enrolled in tertiary education.[2] Projections suggest that that participation will peak at 263 million in 2025.[3] Accommodating the additional 98 million students would require more than four major campus universities (30,000 students) to open every week for the next fifteen years unless alternative models emerge. (emphasis DSC)

Also see:

OER for beginners: An introduction to sharing learning resources openly in healthcare education
The Higher Education Academy (HEA) (www.heacademy.ac.uk) and the Joint information Systems Committee (JISC) (www.jisc.ac.uk) are working in partnership to develop the HEFCE-funded Open Educational Resources (OER) programme, supporting UK higher education institutions in sharing their teaching and learning resources freely online across the world.

A visualization of the United States Debt — from usdebt.kleptocracy.us

From DSC:
Though this is the U.S. debt, the ramifications of this affect the entire globe. I believe my cousin, Mr. Stephen Gibson, is correct when he says that we may well be heading towards a “Global Reset.”

 

usdebt.kleptocracy.us

 

 

http://usdebt.kleptocracy.us/

 

Also see:

usdebtclock.org

— as of 8/24/11 around noon

 

Addendums later on 8/24/11 from Academic Impressions:

 

First day of sessionMPR Photo/Jeffrey Thompson

Just what are states pledging for higher ed these days?

  • Fidelity® study finds significant shifts over 5-yr period in how families tackle rising college costs
    Fifth Annual College Savings Indicator Study finds parents projected to meet only 16% of college costs, despite improved savings habits
    BOSTON – Fidelity Investments®, a leader in helping families save for college, today announced the results of its fifth annual College Savings Indicator study, which found significant shifts in savings behavior from 2007 to 2011, with more families: 1) starting to save in the preschool years despite financial pressures, 2) seeking guidance and saving for college using a dedicated account, such as a tax-advantaged 529 college savings plan, and 3) making shared sacrifices to achieve their college savings goals.

    The study features the College Savings Indicator, a calculation of the percentage of projected college costs the typical American family is on track to cover, based on its current and expected savings. After four consecutive years of decline, the Indicator held steady to the prior year at 16 percent, down from 24 percent in 2007, when Fidelity first launched the study. While overall preparedness has declined, a larger percentage of parents — more than two-thirds (67 percent) — have begun saving for college costs, compared with 58 percent five years ago.

The high cost of low graduation rates — from air.org by Mark Schneider and Lu (Michelle) Yin
How much does dropping out of college really cost?

 

Closing the loop in education technology — from The Journal by David Nagel

Excerpt:

K-12 education isn’t using technology effectively and isn’t investing nearly enough in IT infrastructure to enable next-generation learning. That’s the conclusion of a new report, “Unleashing the Potential of Technology in Education,” which called for a greater financial commitment to education technology and the adoption of a holistic, “closed loop” approach to its implementation.

See also:

Unleashing the Power of Technology in Education - Report from the BCG in August 2011

 From DSC:

We may continue to be disappointed in our overall results — even if we do bump up our ed tech infrastructure/investments — if we continue to use the same models/ways of doing things. That is, I wish we would move more towards a team-based approach and stop trying to load up our teachers’ and professors’ plates with tasks that they probably don’t have the time, interest, or training to do.  Graphically speaking:

 

 

 

 

So…use teams to create and deliver the content — and allow for online tutoring from a team of specialists in each discipline. Like the healthcare-related billboard I kept driving by the other day said: “A team of specialists at every step.

 

New ‘net price calculators’ required by law may bring sticker shock to families planning for college — from Michigan (USA)/mlive.com and Flint Journal by Beata Mostafavi

University tuition hits an ugly milestone; how can college be affordable again? — from Michigan (USA)/mlive.com by Peter Luke

Also see:

 

 

 

Debt to degree: A new way of measuring college success — from educationsector.org by Kevin Carey and Erin Dillon

Excerpt:

The American higher education system is plagued by two chronic problems: dropouts and debt. Barely half of the students who start college get a degree within six years, and graduation rates at less-selective colleges often hover at 25 percent or less. At the same time, student loan debt is at an all-time high, recently passing credit card debt in total volume.1 Loan default rates have risen sharply in recent years, consigning a growing number of students to years of financial misery. In combination, drop-outs and debt are a major threat to the nation’s ability to help students become productive, well-educated citizens.

Fixing Debt — from InsideHigherEd.com by Kevin Kiley

Excerpt:

Colleges and universities don’t like uncertainty, and right now they’re facing a lot of it. No one knows how long it will take the economy to recover to pre-recession levels. The government’s sovereign credit rating, once ironclad, is under review for potential downgrade. And people aren’t even sure if, in less than a week’s time, the government will be able to pay its bills. Nobody knows what the national fiscal picture means for higher education. The current drama in Washington over the debt ceiling has only exacerbated several years’ worth of economic uncertainty that led colleges and universities to convert variable-rate debt — a potentially volatile form of borrowing in which the interest rate can change weekly depending on the market — to fixed-rate debt. They purchased the variable-rate debt in droves because of historically low interest rates; shifting to fixed-rate debt will come at a price. But doing so provides somewhat more stability, no matter what happens in Washington — even if the worst unfolds and the government defaults, one of several factors that could send variable rates soaring.

Analysis: In debt row, hints of emerging-economy crises — from Reuters by Pedro Nicolaci da Costa
WASHINGTON | Sun Jul 24, 2011 5:59pm EDT
Debt default. A ratings downgrade. Political deadlock. Such terms, once associated primarily with the developing world, now abound in the mighty United States.

 

In college, without a home [Nelson]

In college, without a home — from InsideHigherEd.com by Libby Nelson

Excerpt:

BOSTON — For homeless college students, even the smallest details can become big hurdles: a $5 student ID, a housing or enrollment deposit, a place to keep a birth certificate or Social Security card.

Financial aid officers are often the ones who have to confront these issues. And as homelessness has increased during the recession, the population of college students who are homeless and without their parents is likely to grow in the coming years, financial aid officials were told at the annual conference of the National Association of Student Financial Aid Administrators here on Tuesday.

The population is also growing, she said. The number of homeless youth has increased 69 percent in the past two years, to 1.6 million. Some are runaways; others are from chaotic family situations, maintaining contact with parents and siblings but spending the majority of nights on friends’ couches or in cars or mobile homes.

Tagged with:  

Last-minute tuition hikes hit students — from SmartMoney.com by Anna Maria Andriotis
Almost 20 states have cut funding for colleges, raising costs for students — starting now

Excerpt:

With freshman orientation right around the corner, many college students and their parents are about to get a surprise that could derail years of careful financial planning: last-minute tuition increases and cuts to financial aid packages promised just a few short months ago.

 

From DSC:
Many already know that such budgetary pressures are a piece of the perfect storm within higher education; but what may not be as visible is the catalyzing effect that these pressure are having/will have towards creating a game-changing environment within higher education. For example, such escalating costs may cause people to pursue other avenues of obtaining knowledge and/or experience. Some examples off of the top of my head include: 

  • StraighterLine.com
  • More community college-based coursework
  • iTunes U
  • YouTube.edu
  • University of the People
  • Apprenticeships
  • More vocationally-based programs
  • Etc.

 

 

 Paying Off Student Loans Has Become More Difficult

 

Also see:

 

The sky has not fallen — but pieces of it could soon be hitting a campus near you.

That is one way of summing up the findings of Inside Higher Ed’s first-ever Survey of College and University Business Officers, released today in advance of the annual meeting of the National Association of College and University Business Officers. (A copy of the survey report can be found here.)

Colleges in Crisis - Harvard Magazine -- July-August 2011

Excerpt (emphasis DSC):

Surveys of the American public and of more than 1,000 college and university presidents, conducted this past spring by the Pew Research Center in association with the Chronicle of Higher Education, revealed significant concerns not only about the costs of such education, but also about its direction and goals.

More fundamentally, the business model that has characterized American higher education is at—or even past—its breaking point. Many institutions are increasingly beset by financial difficulties, and the meltdown since 2008 is but a shadow of what is to come. Undergraduate tuition has risen dramatically: at a 6.3 percent annual clip for nearly the last three decades—even faster than the much-decried 4.9 percent annual cost increases plaguing the healthcare industry. The full increase in the price of higher education has actually been hidden from many students and families over the years because gifts from alumni, earnings from private university endowments, subsidies from state tax revenues for public universities, and federal subsidies for students have been used to mitigate some costs. But universities are exhausting these mechanisms.


A Thriving, Disruptive Innovation
Just at the moment when these challenges to established higher education have arisen and compounded, another group of universities has arisen whose financial health is strong and enrollments have been booming. And yet the brands of these schools are weak and their campuses far from glamorous; sometimes the campuses are even nonexistent from the perspective of students, as online learning has largely driven their growth. How could this upstart group be so successful when the rest of higher education is treading water at best?

© 2024 | Daniel Christian