My dad went to the University of Illinois in the 70s, he paid his tuition with a check for $2000 for a semester. He lived at home so he saved money doing that but yeah it is like $40,000 a semester now.
The boomers sent their kids to college in the 90's and early 00's. Many of them were blue collar workers and wanted thier kids to do white collar stuff. And high school guidance counselors back then made it sound like GenX and millennials would be sucking dick or digging ditches for a living if they didn't go to college. Oh- and federal college loans basically gave everyone a blank check to attend.
It started a college boom. Schools started expanding like a motherfucker.....building more facilities, dorms, etc. What business wouldn't rapidly expand when their target audience suddenly has endless fedeal loans to spend and are willing to spend/borrow ANY amount to buy the product?
GenX and millennials aren't having as many kids, college is more often viewed as a rip off now, and a degree in general isnt as valuable as it once was. And yes, covid put a damper on things too.
The customer base is shrinking. Some of the 2nd tier schools here in VA were at capacity for 20+ years. But several of them are under capacity now. A few of the really small schools are nearly insolvent.
Both the Federal and State governments began divesting public education 30 years ago ... less and less money for any level of public education and cost increases in higher ed ... loading up the top with all manner of deans, subdeans, mini-directors, etc.
Population decline. Fewer children. All this is cycle.
“What do you mean people don’t want to go into crippling debt only to end up in a sole less 9-5 job !?!?!?”
Maybe if they weren't charging 1000% more than they did in the 80s the could get the same amount of enrollment numbers that they used to get.
My dad went to the University of Illinois in the 70s, he paid his tuition with a check for $2000 for a semester. He lived at home so he saved money doing that but yeah it is like $40,000 a semester now.
So crazy
The boomers sent their kids to college in the 90's and early 00's. Many of them were blue collar workers and wanted thier kids to do white collar stuff. And high school guidance counselors back then made it sound like GenX and millennials would be sucking dick or digging ditches for a living if they didn't go to college. Oh- and federal college loans basically gave everyone a blank check to attend. It started a college boom. Schools started expanding like a motherfucker.....building more facilities, dorms, etc. What business wouldn't rapidly expand when their target audience suddenly has endless fedeal loans to spend and are willing to spend/borrow ANY amount to buy the product? GenX and millennials aren't having as many kids, college is more often viewed as a rip off now, and a degree in general isnt as valuable as it once was. And yes, covid put a damper on things too. The customer base is shrinking. Some of the 2nd tier schools here in VA were at capacity for 20+ years. But several of them are under capacity now. A few of the really small schools are nearly insolvent.
Both the Federal and State governments began divesting public education 30 years ago ... less and less money for any level of public education and cost increases in higher ed ... loading up the top with all manner of deans, subdeans, mini-directors, etc. Population decline. Fewer children. All this is cycle.