Education is a Business After All

A most enlightening article on higher education shows they are plain going out of business (Bloomberg).

Simmons, home to 4,700 students, opened the 66,500-square- foot (6,200-square-meter) center in January, two months before the U.S. stock market hit its lowest point in 12 years. Even before the ribbon cutting, enrollment in the management school had been dropping.

Now, the vacant halls are reminders of the new math confounding U.S. colleges. Students, pummeled by scarce loans and savings plans that have fallen as much as 40 percent, are heading for less expensive schools. The perks designed to lure them during boom times -- from hot tubs to dorm-suite kitchenettes, to in-room cable TV -- are crushing universities with debt. Even projects like Simmons’s “green” management building, with its rain-absorbing roof patio and toilets with two flushing modes, can turn into burdens as schools struggle with rising expenses, plummeting endowments and needier applicants.

What is most interesting is how many of these schools went on spending binges, with even Harvard being in trouble. New construction, fancy dorms and so gross of financial mismanagement they are now in trouble.

Nice huh, how higher education has turned into a product making machine with the student being sucked dry all the while being turned into this product.

So, it appears instead of focusing in on research, the quality of the education, the students themselves, we have a host of schools now in huge financial trouble. Even more troubling is how these very schools are awarding MBAs and financial management degrees.

Note how Bloomberg says this new business model of these schools is the Harvard model. Anyone else thinking Harvard is overrated?

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Where can a person sign up

for a free ride scholarship?

Even more troubling is how these very schools are awarding MBAs and financial management degrees.

Thats a freakin riot!!

if only

It used to be employers offered full free ride scholarships to get MBAs, even PhDs in some cases and now, they dump all training and education onto the worker.

This is something that is never mentioned when they talk about college education, making employers responsible.

It's a tax write off for them and is a long term investment in an employee plus gives the skills they want.

They did not do this lightly in the past either, I mean you had to earn it, no doubt about it...

but they had internship (paid) programs, co-ops where one could literally live and pay for college by going to school a semester then working a semester.

but all of this seems to be gone and instead they all want to offshore outsource all education and training...i.e. not increase nursing schools seats even, pay nursing professors what they are worth...nope, they just want to import nurses from Indonesia, etc.

Guest Worker Visas

That's why it's so hard to defeat the H1b program because schools make it a point to recruit foreign students and then give them H1bs or OPT visas. The one thing that burns me up, they come here from a foreign country and expect America to pay for their education from loans/grants; when American students still find it hard to get funding to go for Advanced Degrees.
I Wish America reboots and gets a shot of "gold ole Common Sense".