Many are seeing a bubble in education and making the comparison between the housing bubble and a college bubble. I would not go that far, and agree with other articles that traditional college is going to go the way of traditional newspapers. http://www.investingwithoptions.com/2009/08/college-is-a-bubble/ College is a Bubble http://www.usatoday.com/money/perfi/college/2009-08-30-college-costs-recession_N.htm?loc=interstitialskip In a recession, is college worth it? Fear of debt changes plans http://www.washingtonpost.com/wp-dyn/content/article/2009/09/11/AR2009091104312.html A Virtual Revolution Is Brewing for Colleges Good interesting reading for a Sunday afternoon.
It is a bubble. The tuition rate can't keep rising forever. It's getting really out of hand at this point. I believe that in 15-20 years, the US will have a higher education system similar to that of Europe. It will likely be very inexpensive albeit more competitive. Most jobs shouldn't require a degree, but a professional certification or license instead. We'd be much better off IMO.
I agree, especially when supply (labor) lowers with the baby boomers retiring and the demand (jobs) does not keep pace. They can only outsource so much...
That, and companies are starting to find it increasingly difficult to get quality outsourcing. Additionally, many companies' infrastructures are becoming more complex, thus requiring a deeper skillset and more local control.
Another Article I first became aware of this issue through this article in Forbes: The Great College Hoax http://www.forbes.com/forbes/2009/0202/060.html While education is still valuable and can be considered an asset, like any asset, it is possible to pay too much for it. Forums like DegreeInfo are valuable in that information is shared freely about affordable online and distance education options, which is the best educational value!
This certainly will not work for everyone, but here is one option for the high school student who is looking to stay out of debt: get an entry-level job as a mail clerk, customer service rep or similar position at a company that offers tuition reimbursement. This person can then have their employer foot the bill for their education. The employee benefits from receiving a free (or partially paid for) education, while the employer benefits from better educated employees. Like I said, it won't work for everyone, but it is an option for some.
