the death spiral in higher education is just getting started. Needs to collapse.

And collapse it will. And soon too.

If the tax increase proposition in California doesn't get approved in Nov. then tuition will likely go up another 20%. Have to pay for those very pretty state of the art buildings they keep putting up.

This is what the Voters Want. Why else would they keep voting to subsidize it ?

Fukkem. You made your bed...

it amazes me how no one thinks to what the longer term effects of these annual tuition increases will do to every other sector of the economy.

in order to service their student loan debt, things like buying a house, a car, or a vaction will be scraped.

risk taking and innovation will be scaled back because the risk cost will be too high.

unfortunately, the answer to the problem is for the students to say no and stop going to college. the powers that be have a good fear system set-up though that prevents this right now.

Modern grads will end up like those Japanese suckas who work like crazy to rent $1,000/month bunks in Tokyo and never own anything. TPTB are content to just rent to the next generation. I don't think they will own anything other than what their parents already have (ie their inheritance). It is a win for all hahahaha....TPTB get cashflow, more ponzi loans and a reason to buy up distressed properties.

ADD: Grads will get their parents' houses when they pass. Basically have the "American Dream" skip a generation.

At this point just like with Gov't debt I don't believe there is any intention to see the debt paid off. Since the debt load has surpassed what is reasonable to be serviced in this environment I see some kind of debt forgiveness coming in the not so distant future.

Great way to buy support and votes by being the one to collapse the unsustainable system.

I went to an "expensive" (at the time) private university when I first went to college in 1960. I earned all annual costs every summer, (about $1400). I live and am from Washington so this report was of interest and I looked up the present annual cost of that school, c. $55,000. That would require a very rich summer job to cover.

Yeah, lets just do debt forgiveness and dump this on the taxpayer too


I'd much rather change the law so that student loan debt, going forward, can be included in bankruptcy. That will immediately stop this madness in its tracks & still allow banks with outstanding loans to get their pound of flesh.

Quote:

I went to an "expensive" (at the time) private university when I first went to college in 1960. I earned all annual costs every summer, (about $1400). I live and am from Washington so this report was of interest and I looked up the present annual cost of that school,

I did the exact same thing, in 1979-1983, just about the last year one could as it all began to go to crap the next semester.

Mayor-

ADD: Grads will get their parents' houses when they pass. Basically have the "American Dream" skip a generation.


Maybe but a reverse mortgage done by their parents... ooppps. Sorry kids your ****ed. Bank owns that too.

Wait 5 years or less. It will become a whole lot more affordable for all.

My oldest will be college age in 7 years...I'm hoping the college bubble pops before then. Otherwise, plan B for us (AP courses for 30-60 credits, votech training in high school, community college, then 4 year...all while living at home).

ouch!

Remember back when university was for an education and when only around 10% went beyond high school graduation (up until the 80's) because it wasn't necessary/affordable?

What have you got today? I don't have the numbers at hand, but it looks like over 60%...and in mostly bull**** 'subjects' or even worse 'professions'..

Gen Y and the millennials to come are so fukt - as are their parents who have subsidized this bull****.

Then again, they did build some beautiful campuses..

And when it goes boom all that will be left is the non-dischargable debt on the students.

College is pretty useless in a culture that doesn't value common sense.

A know a boomer couple. Daughter went to UC Davis (not cheap) for a biology degree. Son went and did various things, then ended up taking a mechanics certification for Volvo (went to their school back east for that).

Last I heard the son was a security guard and the daughter was working retail. $100k wasted, put the parents retirement back several years. Kids come and go living at home.

Read an article about another woman who went to med school on Mom's dime. Graduated, then moved to Yosemite to teach rock climbing. Many more examples like this can be found. Why become "educated" if you can't or won't use it?

There's no class in the catalog that says "Common Sense 101"

This will be fun to watch.

http://www.slate.com/articles/technology....

Etz...the epic failure of the universities will require mucho popcorn

I just had a friend apply at a Verizon call center...they had around 30-40 people there applying for jobs...every single one of them was a college graduate. How long before college and graduate degrees are absolutely worthless because every fry-cook and janitor already have one?

The daughter referenced above with a biology degree could come to central FL and get a teaching job. $35,000 or so, but at least it's better than retail.

Randy123 wrote..

Wait 5 years or less. It will become a whole lot more affordable for all.

Exactly. Technology-wise, there's no longer any reason to have more than one or two teachers for beginning undergrad courses per-subject for the entire country. Colleges and universities are no longer leveraging the corner on knowledge and instruction that they used to enjoy. Instead they are leveraging their accreditation status, and that's it.

Quote:

The daughter referenced above with a biology degree could come to central FL and get a teaching job. $35,000 or so, but at least it's better than retail.

in CA a teaching job requires a masters degree plus a teaching certificate. at least 3 more years of school, maybe $50k more of tuition alone.

in CA a teaching job requires a masters degree plus a teaching certificate.

...and they're still complete imbeciles as my daughter's 2'nd grade teacher proved to be.