Why More And More Colleges Are Closing Down Across America
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- Опубликовано: 14 май 2024
- The mid-2010's saw an uptick in U.S. college closures-particularly in the private nonprofit space.
Since 2016, 91 U.S. private colleges have either closed, merged with another school, or announced plans to close according to a CNBC analysis of data from Higher Ed Dive. This trend is affecting tens of thousands of college students across the country, with almost half of those schools closing after the onset of the pandemic in 2020. For many struggling schools the pandemic was the final straw-but two major themes showed up consistently throughout the closures: finances and enrollment.
"There are two significant issues affecting higher education right now," said The Princeton Review's Editor-in-Chief Robert Franek. "Specifically, through the admission and enrollment offices. Number one, it is the admission cliff, and that is the impending decline. We'll be graduating our lowest high school classes by population in 2025. And most enrollment professionals have been wringing their hands about this date of 2025, but many schools have seen those enrollment declines already."
About 95% of U.S. colleges rely on tuition, according to Franek, meaning they rely on money from students to operate. Dwindling enrollment numbers mean less money, fewer student offerings, and eventually a shuttered institution.
"It's a reflection of, I think, an unsustainable operating platform, meaning a heavy reliance on tuition, which can't always keep up with inflation," said Fitch Ratings Senior Director Emily Wadhwani.
"It can't always keep up with erosion in enrollment. We can't keep hiking tuition sticker price in the hopes that the net residual once you account for scholarship and discounting and the like is gonna be enough to sort of offset your growing expense base."
Chapters:
00:00 - Introduction
01:42 - The enrollment cliff
05:17 - Colleges on the brink
11:30 - What's next?
Correction: A previous version of this video misspelled the last name of Melinda Huspen, a student at The King's College.
Produced by: Devan Burris
Edited by: Evan Miller
Narrated by: Jordan Smith
Graphics by: Mallory Brangan and Alex Wood
Supervising Producer,: Jeff Morganteen
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Why More And More Colleges Are Closing Down Across America
The combination of people realizing that college is overrated and the fact that college is overpriced.
College is ridiculously overpriced and even was in 2001 when I graduated from high school and now am turning 40 years old this year
I wouldn’t say overrated. Just overpriced and time consuming. 2 years of general study is a waste.
@@jayman5692 true
@@PraveenSriram facts
70 % of University students know who Karl Marx is but John F. Kennedy? Kennedy who? JFK Democrats, Ohio. Actually good news for a change. Better to home school. Black Conservative's, the most hated group in Leftist Politics. Hypocrite 's. Ask Thomas Sowell, Lecture on Woke, 1995.
Imagine getting your business degree at a school that went out of business 😬
Could be part of the education. Nothing should be immune from that. The US government would be out of business if they didn't control the money printer.
Too funny 😂. You will definitely learn the concepts of financial mismanagement, embezzlement, and liquidation procedures.
@@manfredmann2766 sounds like an excellent candidate to get in on the ground floor for our start up company with new disruptive technology product that will sweep the market!…
Trump University
How very ironic!
The problem in America is that everything has to turned into a corporation for profit instead of overall societal benefit and well-being, and this is what happens to a sector such as education.
Precisely
I disagree that this is why this specific issue exists. Enrollment has been on a slight decline in the U.S. due to a lot of factors related to renewed interest in trades, changing cultural factors, decreased opportunity bonus from getting a college degree etc. Non-elite private colleges feel the brunt of this as college students go to low cost state schools or jockey for positions at elite private schools. Non-elite private unis simply lack the opportunity access of elite schools and the affordability of public schools.
Imo I don’t think this is as much of a problem as it’s made out to be, it means most of these colleges students are being directed to public research universities which is a good thing if you want less private sector influence in academia.
@@zandaroos553 nah. weak argument via splitting hairs. follow the money.
@@gazjaz2010 …can you further elaborate why I’m wrong? America has a massive over abundance of expensive liberal arts colleges that aren’t elite enough to give a high degree ROI and can’t reduce tuition costs to be competitive with state schools. As enrollment patterns flatten and shift towards research universities and polytechnics you’re gonna see large numbers of closures.
Well if the former graduates went back to help fix it then this would have been done a long time ago. If you can't even get your own alumni to give a damn then you can't expect the rest of society to drop what they are doing to fix this for you.
College education worked for me 45 years ago. However, about 75% of my classmates didn't get jobs related to their degree. Getting a job related to your degree has largely been a mirage for generations. Colleges have not been held accountable.
Many college degrees don't translate directly to careers. What do English Literature, History, and Philosophy degrees prepare people for? (The old punchline is "Grad School.")
I agree with you 100%
A lot of folks are realizing that getting a degree just to end up in debt & working in retail isnt worth it.
Getting a degree won’t get you working in retail if you get anything related to STEM, it is useless if you pick a degree like art and communications but an Engineering degree will definitely get you places
@@samuelpaz3218 Not always. Many people with STEM degrees, especially life sciences, are not working in STEM.
Those who get a degree are the fortunate ones, it's estimated that nearly 40% of the people who
enroll in a 4 year university either drop out or they don't meet the graduation requirements.
So they still have the student debt, but no degree to show for it, those people are _really_ screwed.
@@samuelpaz3218can you guarantee this comment?
@@samuelpaz3218My cousin got a computer science degree and he currently works at a daycare. Almost 3 years of not finding work so he have up and choose anything available.
as a millennial college grad, let me assure you that whenever a college closes, an angel gets its wings.
As a former professor, let me assure you that whenever a college closes, an angel gets its wings.
True 😅
You sound like a millennium with little sense
@@josephvanname3377😊😅
😂🤣😂
Colleges need to focus 100% on getting their students receiving jobs straight after college with their degrees. If they can't do that, there's no point to their existence.
Agreed.
If this is true (and I wish it were) then it would be a complete and total transformation of every US college mission statement. No one who works for any college in the US will agree that the purpose or mission of college is to get students jobs. Of course, this is part of the problem. The purpose of US colleges is to educate according to the colleges and most everyone who works for them. Asinine.
Well, that would require employers to actually desire said degree.
This is the largest problem, college career centers lack the resources, leverage, and knowledge on how to truly help students and graduates obtain jobs. The college I attended for my doctoral degree doesn’t even offer you a job interview no matter how many times you apply. They simply don’t hire their own graduates. I don’t mean professor or adjunct jobs either, they won’t hire for ANY job. Years ago I wrote several college career center’s encouraging them to incorporate trade skills and/or other vocational skills and licenses into many of their degree programs. I even advised them on how to pay for it. I was polite in my email, this wasn’t a rant. I never heard anything back. Colleges need to completely change their mission. Student loans should be tied to how well a college does in helping students obtain jobs relating to their degree. I just know if you academic doctoral graduates working as call center workers for less than $20 an hour after they graduate that’s a problem.
There are plenty of students that just don't try in college, and instead see it as four years of parties. Colleges definitely need more career support for students, but 100% is insane.
It makes sense. Private colleges (that aren't Ivy League or close to) tend to be overpriced with really no more bragging rights than the major public universities.
For most
The only good thing about the degree
Is the name of the school
It unfairly opens doors
Life should be based upon merit
No, you missed the point. Ivy League, yes. General expensive private college, no. It is actually no more prestigious.@@michaelrogers9720
@@michaelrogers9720yeah, well...the reality is far different in America (or really anywhere that the better off and well-connected have a leg up). Period.
Public schools are closing or shrinking their programs.
I saw during my years at college that spending is ridiculous. My school got a grant of $1.8 million to remodel an old gymnasium to offices. They already had a five floor office building that only used the lower two floors. "Why could that money not be used to ease the burden on students?," and I was told it can only be used for this. That, to me, was just idiotic.
Exactly! The school I taught at as well
Oh, poor child. I guess you're a racist now, or what was known as a Republican before Obama.
Schools are forced to spend X amount of money for expansion and upgrades even when it's not needed because otherwise those government grants will be reduced or removed for the universities... I know since my brother use to work at the university. It's just one example where the government is really terrible about spending money.
I used to work in construction. EVERY year, in the news, they'd be crying that schools didn't have money and might need to lay off teachers.
Every summer, contractors I worked with got contracts to do work on the facilities, often completely needlessly. EG: replacing a parking lot that was in acceptable condition. Nearly $100,000 to remove one of the radiuses of the running track and move it out by half a meter, as it had been built the wrong size. Never mind it was fine for all the years it had been in use, suddenly that was something worth spending on.
Well, if the grant you apply for is specifically earmarked for construction or building improvements, then that’s where is has to go, or the institution is in violation of the False Claims Act-unless it’s a private grant (unlikely), but they’d still be guilty of fraud could easily be sued and probably lose.
The thing that this story didn’t really cover is the rising cost of going to school. I have so many friends that went to school and got their degree in a specific field only to go into a career that has little to nothing to do with their degree. The bad part of that is they are stuck with a massive debt that a lot of people spend most of their lives trying to pay off. I work in a hospital and see nurses get their degrees only to find out that they won’t be able to make what they were essentially promised if they got their degree. As a result of that we have lost many nurses in our clinic to go find a clinic that will pay them what they have rightfully earned and it’s caused a massive shortage in staffing. I consider myself one of those people that figured out how to net work and do internships to avoid having to be in student debt, and still earn a decent living. Unless you know exactly how to make your degree actually work for you, school is just a ginormous debt trap for most people. So I’m not surprised that schools are closing.
Hospitals are dangerously understaffed. Americans need to do something!
@@tannerpaisley-ve6dq Whose fault is that? Hospitals happily laid off and furloughed doctors, nurses, PT, OT, dietitians and auxiliary staff from March 2020 to almost the end of summer of 2020, forced older nurses to retire as well when they could had been used to help the units needing their help, then from January of 2021 until last year, hospitals were firing nurses and other hospital staff who refused to be vaccinated because hospitals were not getting their nice little financial kickbacks from both the Federal Government and the Pharmaceutical corporations and the reasons that vaccinations will protect them, their colleagues, own families and their patients from the Wuhan flu were lies . Of course, then comes the inevitable hospital consolidation where system healthcare start buying smaller hospitals or merging with another system that creates a monopoly or worse, the formation of hospital system cartels and with that, another round of laying off medical and nursing staff and others. The result, many doctors and nurses are leaving healthcare and the bedside for something much better. If Americans are serious, get the fracking Federal Government out of healthcare and second, stop hospital mergers or buyouts. Third, get corporate America out from running and ruining American hospitals. They don’t know what the heck they are doing. Do those things and America can halt not only the loss of experienced healthcare personnel, but also it will improve American healthcare immensely and lower the cost of care.
Also, less people want to go to religious university nowadays after years of terrible discriminative teachings by religions groups and scandals from people like Jerry Falwell / Liberty University.
Community colleges have reasonably priced trade programs that actually get students a job and lay the groundwork for self employment.
@@est9949 Really, so explain why many still enroll in Norte Dame and other Catholic universities and colleges?
Still confused by this. Lots of people spend so much at college they screw up their whole life with debt. How could a college not have enough money?
They turned to a business model with the students as the customers.
Bulging administrative staffs, incredibly over-fancy student accommodations, expensive athletics programs. Then you've got the weirdness off the research vs teaching dynamic: a lot of tenured professors are focused on doing research that brings in large grants (which the school takes a cut of) while most of the teaching is being done by underpaid adjunct faculty who aren't permanently employed. It's all a mess that's been building for decades and finally coming to a head with Covid.
Probably embezzlement
Enough money for what? It’s not that they don’t have enough money to keep their side business of teaching and running education programs. It’s that they don’t have enough money to run their main business, finances, prestige, real state, debt, investment. They have bosses too, they have dreams of expanding and making bank for the people on top.
For the last 20 yrs colleges got ridiculously expensive trying to attract students. They did things like built amusement parks to entertain their students during down time. 🤦♀️. They over expanded. There are too many colleges for the amount of US students. Housing for students is ridiculously expensive.
I'm a college dropout. My grandfather, who was a college grad, used to tell me regardless of what you learn or if you stay in school, never stop learning. College will not show you how to become wealthy, which will be determined by your work ethic, decisions you make, sacrifices, and the books you read.
All I want is for job interviews to not be so difficult to get and to not be asked stupid, degrading questions during them.
College is about being a well rounded person first and foremost. Not to mention 9 times out of 10, someone with a degree will be hired before without. You can learn from the streets but why make it hard? in the long run, being educated is better and easier to accumulate wealth.
@@essel23flythe well rounded thing is a cope
@@Emit. No that's just the history of college. When colleges first started people didnt get degrees they just took classes in things then dropes out when they got bored. Then Henry Ford decided to only hire college grads for some job positions.
LOL! It's not what you know. It's whom you know.
Rising costs, useless degree offerings and lack of support post graduation, in my opinion, has been made US colleges not only less desirable but less efficient in the long run. If students are willing to leave their hometowns and/or go into debt at an early age to earn a degree, the colleges have a responsibility to provide resources that will make it worthwhile. I think a lot of young people aren’t seeing the benefits anymore and it’s up to the administrators at these institutions to change that if they want to stay in business.
The administrators could care less, they steal enough money in one or two years to set themselves up for life.
Exactly!
70 % of University students know who Karl Marx is but John F. Kennedy? Kennedy who? JFK Democrats, Ohio. Actually good news for a change. Better to home school.
bye kids should use more care. Its hilarious how they use old clips of what college used to be like. Thats not what happens now.
The administrators are the main reason for the high tuition costs. Some colleges have almost as many as many working their, as students that attend. They keep creating more and more departments filled with mostly useless positions filled with people that act like the Gestapo just to report who breaks some crazy new rules that some other useless administrator created to keep a job.
I had a doctoral colleague who lost his job and couldn’t finish the program. I was chatting with him and learned that the school where he earned his masters degree had been closed down because of shady practices that lost them their accreditation. His masters degree was in jeopardy and didn’t have the same value because of this. Even if he tried to re-enroll in a doctorate, he may miss the qualification. It’s a complete mess. The schools suffer, but the students likely suffer much more.
😂😂😂😂
What school did he went to? Was the college actually accreddited? Non-accreddited colleges cant give doctorates in the US.
@@Brabbs I don’t recall the college where he went for his masters. That’s the school that got shut down, not where he was pursuing his doctorate. He ran out of money in the doctoral program, so he suspended himself. But, he can’t re-enroll now because his masters was in jeopardy. I haven’t spoken with him in a while, so I don’t have any updates.
@@Brabbs What are you talking about? Schools all across the country are authorized to give doctorates but are not a part of the "accreditting" financial scam. Can you not do a simple google search?
@@19ars92There is nothing funny about this
I can assure you that culinary schools are all a scam. You don’t need to go to any of them if you want to be a chef. Start young and get a job at the bottom. Like a dishwasher or server, and work your way up. Use that time to learn the business and to get mentors to help you.
Technically if you have a business mentor or father to teach for free or money institutions are a scam. Problem is those that don't get the benefits have to go to said scan school
Take business classes at a community college, accounting, marketing, management, Human Resources, real estate, etc. Take the course to be licensed to manage a kitchen for your state.
Good thing I had my airway clear when that lady said the part about how tuition isn’t keeping up with inflation. Tuition has been many times the rate of inflation for decades. I also don’t know what their business model is, but it is definitely unsustainable.
Honestly, I don't feel sorry for them. They've been fleecing us for years! Tuition is up 1,000% since the early years yet cost of living is only up 200%. Then they put these requirements where we need 2 or 3 books for a class where each book costs upward of $300 each. Then some classes the book may have a code where you can only use it once and after that you can't reuse it can't even sell it to make up some of the losses. It's shady crap like this that makes me not have any sort of towards them!
Dont get me started on books! College textbooks are as big a scam as tuition. Planned obsolescence isnt just for tech but also for textbooks. It is not enough to have 4th edition of a book(which you can pick for half price at a college used bookstore), you should have 5th edition, the differences being only cosmetic. I am not cheering for piracy but lets just say, I dont mind if the publishers recieve a serious disincentive .
70 % of University students know who Karl Marx is but John F. Kennedy? Kennedy who? JFK Democrats, Ohio. Actually good news for a change. Better to home school. Black Conservative's, the most hated group in Leftist Politics. Hypocrite 's. Ask Thomas Sowell, Lecture on Woke, 1995.
The textbook market is a giant scam.
Last few years of college I used to wait the first week to buy textbooks. Some professors wouldn't even have them as part of the curriculum and tell students not to bother.
@@wayIessThose professors are cool.
Part of me believes it's because younger generations see the push to go to university as an unneccessary and prohibitively expensive scam. They saw how us millennials are burdened by tens of thousands of dollars of student loan debt that the government was unwilling to forgive but more than willing to forgive billions in PPE loans. The fact that college is a business is what's made it become so awful these days and emblematic of the issues with America being ran like a business and only looking out for businesses.
That's exactly why. Why go 40k in debt just so you can land an office job that pays 50k, when you can learn a trade and start making 70k just a year after highschool?
So did they vote for Bernie? Did they tell their reps to move the Free College bill through Congress? If not they have no right to call schooling a scam.
I agree .Population decline as well
@@mustang8206 Exactly, or worse 100K in debt with a doctoral degree earning 30K per year or less.
@@mustang8206 Trades are physically demanding, have no benefits, and are more sucesptible to wage volatility. That's why.
I went to college in the 80s and grad school in the 90s. Best years of my life, enriching me academically and socially. Made lifelong friends, had a fantastic social life, and learning was exciting. Don’t know how people do it these days with skyrocketing costs, debt, and bad job prospects at the end. Plus with everyone using their phone, social life can’t be that great anymore.
irs not the phones. Its stranger danger. But the problem with college is not even the debts.
Its the universalisation. College has now become a natural progression of youth.
Its become a "mandatory" admission ticket to adulthood.
As someone who graduated College, I can tell you that it helped me ZERO percent, in my future career. You learn all you need to know by the end of high school. We should just have specialty schools for Medical fields or some engineering etc.. Not EVERYONE needs or should go to college. Such a waste of money. You will learn almost nothing of what you need for your career. You learn on the job for most careers. It's a scam and a half that they have going on now.
I have a niece who was direct admission to a top Business School. She did not like the college atmosphere. She is a server in a couple restaurants and has already accumulated tens of thousands in her bank account. Started an IRA and is traveling.
By the time she is thirty, I suspect she will be independent and very comfortable
Employers won’t spend the money to train anyone though.
People don't want to be saddled with student loan debt until they die. There seriously needs to be an investigation on why college is so expensive. In 1980, the price to attend a four-year college full-time was $10,231 annually-including tuition, fees, room and board, and adjusted for inflation-according to the National Center for Education Statistics. By 2019-20, the total price increased to $28,775. That’s a 180% increase.
Smart people don't go to college.
I have heard of multiple factors that have driven up the cost of education. For one, the ratio of non-teaching to teaching staff has increased dramatically. Colleges didn't need all the supplementary staff in the past, but somehow today they do??? Secondly, a matter of supply and demand, when govt loan programs make money easier to get, then colleges respond by jacking up prices. Tighten the money supply by getting the govt out and colleges will need to compete for students, and part of that competition is to have sensible prices. But the truth is that a lot of people don't need those college degrees, for example, you can go to a much-lower-cost technical school, learn a career, and then make good money as a car mechanic, plumber or electrician.
@@dennmillsch There are literally armies of "administrative" personnel and bureaucrats in every college and university, sometimes actually outnumbering the faculty members. And not just private schools. State schools have entire departments that don't actually teach anything but "oversee" "campus life" and basically enforce "equity" goals. And it's a surprise they are in the red.
I know a woman who got a degree from a "private, liberal arts college", left there with tons of debt and then was unable to get a job using the degree. What did she do?? Listen to some "advisor" who convinced her to get an advanced degree which turned out to be equally worthless. She is now in her 50's and will never pay off the debt no matter how long she lives. I got so tired of listening to her nonstop complaining about her ever increasingly worsening financial situation I basically ghosted her. Last time I saw her she was working at McDonalds, something she could have done with no degree and no debt.
I think in 1984-1987, we paid $6000 per year at Indiana U. Wanna say my tuition was $1000 per semester with room and board being $2000 per semester. That has been turned upside down with tuition sky rocketing and being the dominant expense today.
I was a professor, and as a professor, I know how unprofessional colleges really are. These wretched institutions really need to close down.
You should do a podcast on that.
@@manfredmann2766 Yea.
I was an adjunct at my school after my graduate degree. I thought teaching in public schools was bad but university is gut wrenching
I would listen to this podcast. I would like to hear more about your thoughts from your first person perspective.
We need a podcast
These comments keep mentioning that college is a business, however they fail to mention what government intervention has done with the introduction of federally backed student loans and the impacts they have had on tuition rates 💰💰💰
Couldn’t happen to more deserving people.
The problem really starts in high-school. It used to be the place where students discovered what their natural talents were and figured out how to use these talents for the job market. Unfortunately, now days High-schools have become nothing more than college prep schools churning out students who are convinced everybody needs to go to University just to make a living. This led to a huge bubble of students from the mid 1990s to just before the pandemic. Universities spent billions thinking this bubble of students would never end. Hence the skyrocketing tuition hikes along with massive campus expansions which led to unsustainable debt. In the last five years, the baby bust of 2007 and then general census from students that a four year degree no longer offers the Return on Investment that justifies the massive tuitions has caused of stunning collapse in tuition paying students. A case in point, a skilled journeyman tradesman can make $100,000 US dollars in many industries like Aviation, plumbing and welding. Many of these careers are begging for talent. Meanwhile, most of the Universities Degrees that students are getting barely pay two thirds of these salaries while being saddled with debts that approached nearly $100,000.
Good point. When I was in high school we had classes like Auto Shop. Now they have Autocad. (Sorry, my terms are outdated, but you know what I mean.) I think we’ve overcorrected.
my niece fell for this lie… soent all that time in avid classes wanted the whole experience… instead got debt, a crappy part time job and depression
"Unfortunately, now High-schools have become nothing more than college prep schools churning out students convinced all of them need to go to University just to make a living."
No, most high schools are not college prep schools. Most high schools tell students to go to college, but most high schools are actually worthless daycares now Very few high schools provide any education that deserves funding because they're mostly trash.
Yep. Well said. I would add the boomer brainwash factor is a major thing. Boomers taught their kids they need degrees to be successful because that worked for them but it's a lost paradigm. I would estimate 95% of the degrees offered at my college were a waste of time and money from a financial/career standpoint.
Ikr work hard to work even harder, it would be better to work hard to relax. Also those people are just dumb, like just attend a cheaper school if you can’t afford it😂 There is no point of going to top universities if they don’t give you the scholarships you need if you can’t get one just go to a local college that has a good reputation that cost maybe around 6-8k a year. Then just become a teacher/ tutor or both and you can get around 90k. If you extremely lazy and want the easy way out just become gym teacher lmao
There are 3 main reasons I think
1. Rising cost
2. Colleges teachings could not keep up with real life demands, companies now prefer people with experience rather than education
3. Jobs pool for people with degree now getting smaller due to automation
Big Corporations like Google, Microsoft, Tesla, Boeing, etc need Engineering Technology & Science degree STEM & Experience .. good money too.
@@lindafukuyu5767yeah it is - for H1B visa holders.
Google is creating their own academy because college grads don't have the required skills and are way behind industry requirements.
@@lindafukuyu5767 it ruins my mind, I want to go to heaven now God
"Experience" is another trap. "This job is entry level. Please have 3 years experience" - the work environment is changing drastically in the modern world and it seems like in ten years we'll all be drivers for Amazon because the few other jobs out there will have so much competition that we can't succeed no matter how hard we try (of course, this is under the assumption Amazon cars won't be driving themselves).
The education landscape is changing. Apprenticeship or work experience and a micro-credential is all you really need for many career fields. Wasting 4 years of your life to be saddled with lifelong debt is just not an attractive prospective for students anymore .
The debt trap has driven the prices up so much that it not worth trying to dig yourself out even with 100k job. The new 100k is 200k
The cost of college is rising at an alarming rate, and many people are finding that they cannot afford to get a traditional college degree. This is leading to a rise in the popularity of e-education sites, which are often more affordable and more job-oriented. I think it is essential for colleges to make their degrees more affordable and to offer more job-friendly courses. In today's economy, it is more important than ever for students to be able to get a job after they graduate. Colleges that do not adapt to this reality will find themselves at a competitive disadvantage.
Agree, tuition is out of reach and doesn't give good return investment, instead give student loan debt for the rest of their live.
When the government will pay any price, the college can charge any price. Seems obvious.
@@andis9076Depends heavily on your major and school. Unfortunately for many people, rigorous, high-return majors are difficult for the average student to pass in. I’m worried admins and softer degrees will start to rename themselves to dilute the rigor of the engineering/science moniker with degrees like “psychological sciences” and “market engineering.”
Totally agree. I would say there is more investments towards 2yr community colleges recently. Basically, make them near zero-free and give students after graduating more options whether they go straight to the workforce or transfer to 4yr college. Either way students can save tremendous amount of money in the long run.
Yet some major research universities are proving they do not need to raise tuition to deliver quality education, namely Purdue University, which hasn’t raised tuition since 2011. The top tier engineering, tech and other programs has attracted record enrollments in big part because of its long time tuition freeze and high paying jobs for grads.
"Unless you know exactly how to make your degree actually work for you, school is just a ginormous debt trap for most people." 100% agree plus you lose 4-5 years.
Imagine if in yr 11 & 12 and half of your degree is complete
Attending a college or university today has only one purpose... networking with ambitious wise people who might be the next business billionaire.
Even community college has gotten way more expensive.
Or you have filthy rich parents and then one can major in one of those garbage degrees.
right, most people don't know how to make their degree work for them or were too lazy to complete it... ergo are ready to say, "it is a waste of time. Me no need degree." Get a frackin' degree that pays like math and computer science, it can even be an associates. Sorry but "communications" and "marketing" with no practical internships ain't going to cut it.
@@ByWayOfDeception most younger people including myself at the time, probably hadn't a clue about what to do after HS. That's where good parenting comes in. my own dad was poorly educated and only gave a damm about staying out of trouble.
For men, the best option is trade school. You'd make a lot more money coming out of there than going to these universities & colleges racking up debt.
If your school was accredited, you will be able to transfer the credits. However, the biggest expense at most universities is promotion, acquiring students, along with a lot of administrators, when the biggest cost should be instructional development and delivery.
You have to be careful about what 'accreditation' means. ITT Tech was accredited by ACICS. You weren't getting credits from ITT transferred to any state/public school anywhere....period. You could transfer them to other schools accredited by ACICS, if the destination school felt like accepting them.
They did it to themselves. More people are finally understanding the math of "$75k in student loans to get a job that maybe pays $50k a year" just does not make any sense.
You can easily pay that loan down in 3 years.
@@TomikaKelly Factor in compound interest, deduct rent, utilities, insurance, emergencies, and car payments. Maybe you have magic money that can survive that payment timeline but, most Americans don't.
@@thesagesapprentice383 You forgot to deduct taxes. The biggest hit to the paycheck
Let us not forget the most importantreason why colleges are closes, mismanagement, overspending, and focus on trivial classes. Don't just blame everything on enrollment numbers. It is only because of money mismanagement.
yeah there is actually a trend for everyone to get a degree. Which means universities are offering random but useless courses to attract the large market of people that just want any degree.
mangement with big egos and won't take a paycut, but will make other staff redundant
AMEN!!! 👍🏿
Just like any business, college is a business, and it is not exempt from failure.
The reason I chose my university was because they boasted a 99.99% job guarantee straight out of school. But for my entire department of over 600 students, they only have one career adviser that takes months to get an appointment with. It feel hopeless especially in today's job market that doesn't seem to be getting better any time soon.
If you have that in writing, sue them. Almost every college lies about job placement and starting salaries. It would be amazing if even 75% of grads would get jobs in their field (that paid more than waiting tables).
People are waking up to the fact so many students are paying $100,000 in students loans for a degree to only get a job that pays $ 15 per hour. There is no return on investment especially when wages across the board are suppressed.
I stopped going to college two years in, when i started working at a Bank. People with degrees are typically the worst to work with, i make over $200k and not even 30 yet. I’m blessed
!/: It just takes a few decades to figure things out :/!
While the rest of us are mocked, lectured, laughed at, HATED and proven right, over and over and over... !
" ! ! ! A B J E C T - S U P E R I O R - E Q U A L A T Y ! ! ! "
Only if you get a useless arts/history degree. Go get a STEM degree.
@@wigglyk2796 True. I think some STEM fields are gonna pay lower now that AI is out.
@@wigglyk2796or go into medicine. I hate how people just generalize college as useless. It’s only useless if you go to the easy brain dead degrees such as communications or not even gender studies
Most teenaged kids are in college only because their parents tell them too. But the parents don’t realize that bachelors degrees are not as valuable today as they were back in the 90s and early 2000s
Well, although my son is young, I plan to support his education, if I am paying, I will make sure I am not paying for useless degree. If I’m the future he insists taking like art degree, he can use his own money. Parents need to know what they are investing. Going to school brainlessly is a waste of money.
The discussion is always siloed. We discuss education cost issues but not the link to what has happened to knowledge jobs in the same time period. That's the problem. E.g. I was a poor kid who graduated in 1996 with $55K in debt (today's dollars) even though I worked through college. But I had zero problems paying it off because I walked right into a corporate job with advancement opportunities. See, it was the balance of how much debt vs. how much opportunity. Opportunities are still out there for sure, but I think they are not as broad as in the past and not all of them provide the advancement opps. Well...that's my hypothesis.
Only STEM
I heard a theory, which sounds accurate, that the number of people with "real" college degrees hasn't gone up over time. The standards have just plummeted for high school and undergrad, which accounts for the paper increase in credentials.
@@dannylo5875 i wonder why Boomers were richer than us without Going to college despite smoking weedsb
I graduated with honors at Strayer University with a Bachelor's of Science in computer information, with a Cyber Security lean. I have a $600 dollar resume, and am a published scifi author and artist. I've been jobless struggling to find work for 5 years, and still living with my mom and dad at 31, who both despite not going to college, own a house and two cars and a Harley.
Hopefully that answers all you need to know about whether you should go to college or not. 😮💨
Where do you live?
Times were different as our parents
In that field you need to have computer science experience and have worked in the field. A college degree isn't worth that much in Cyber Security or Computer Security. You need certifications that aren't taught in college.
Lol you either aren't looking, or are looking for too much. There's no way in that field that you haven't been able to get a job in 5 years 😂😂😂
Do you actually know how to code or just sci-fi with a degree?
I chose to be an Electrician. No college debt. I’m financially way ahead of my peers that spent time on degrees most aren’t using. Played my cards right and invested in real estate. (Taught myself) and I am semi retired now at 39. I tell my kids it will ultimately be their choice but college is not necessary.
Which resources did you use to teach yourself about investing in real estate?
@@jidoorifalconGreat question. I don’t think he can answer that. 🤪👍
And now they want you to pay increased taxes to pay for those who default on debt while getting their Lesbian Dance theory degrees
I heard it is tough getting an apprenticeship to be a finished electrician. But maybe it varies on location.
Yes...but someone has discovered/invented the materials in the tools/fixtures/fittings etc that you now use to line your pockets (including electricity itself). Where was this done?...in Colleges/Universities.
Any university that bloated their overhead by hiring useless administrators and departments had this coming for a long time. I only feel bad for those who have been doing everything right and still got unlucky with enrollment drops.
Good (public) universities will not lose too many students. Small private good for nothing institutions will
@@mathisnotforthefaintofheart In the near future there will not be enough students (low birth rate) and corporations are finally figuring out that the degrees are not needed. Even high-tech, my field, is very open to self-taught software engineers now.
@@Rationalistas193 No, they are not required to have all of those administrators.
@@Rationalistas193 All the more reason to shut them down. Accreditation means nothing.
@@Rationalistas193 That doesn't even make sense. Why are you being such an idiot?
Required to take classes that aren't related to the career that I want is making me hesitant to go back.
Fr. I need to take Spanish class and math like pre-calculus for cyber security.
School isnt about job training. Thats what the Bezoses of the world want you to believe.
I feel this. Before I dropped out, I was aspiring to be a CompSci major at Texas A&M. Tell me why I had to pass Chemistry before I could even enter the actual program?
@@DatGuyWhoPlaysa lot of that is ABET accrediting
Take CLEP exams so you dont have to. Just make sure your local college accepts CLEP.
What colleges need to do is to return to what they were doing very successfully and for a lot less tuition money in the 1960's and early 1970's and before with more emphasis on teaching, a lot fewer non-faculty personnel, and fewer new buildings with perks for students.
In my state and county, the high schools and middles schools give little attention on career counseling. I notice for them, it's all about getting kids through the graduating line.
It's almost like raising college prices to unreal prices produces tough consequences.
The colleges already got all the profits, now theyre gonna squeeze out the rest as long as they can.
School recession.
In general, Community Colleges and trade schools are the best I feel in preparing a person for the work force, and you could have a little part time job while you are attending. If you decide later to pursue a medical education , engineering or something along those lines, you will be better prepared to take that on.
Way back in the late 79's I went to community college. The instructors were great and after two years I got into the University of California as a transfer with no problem. Later on when I wanted to go for my CPA I took night classes at another community college in Pennsylvania. Same thing, great instructors working in the field during the day and up to date on everything. And I was always able to work at least part time so way less debt.
I've been taking evening classes at Coastal Carolina (comm. College) while stationed at Lejeune, and boy is it working wonders. I should have my Associate's done by the time I get out, so just cover the rest with part-time job and GI Bill.
At university, I got a useless molecular biology degree and was thrown to the wolves the moment I graduated, meanwhile my community college gave me a relevant education in computer science and jumpstarted my career in IT by getting me an internship as well. University is a joke.
Can't speak for trade schools or all community colleges but, there most definitely are community colleges that have unnecessarily jacked up their prices for the same or even lackluster education, especially CC that are located within metropolitan/suburban areas.
Liberal arts degrees, learn about life.
Great video CNBC and I hope I can get in to colleges before all of them close in the future :]
Colleges are still needed for some jobs, but have gotten over saturated with degrees that aren't worth the paper they are printed on.
Colleges used to be a mean to escape poverty and move up the social ladder. Most colleges, especially public funded ones, were very affordable even for grassroots family, you might have to work a summer full time to pay off a year of tuition. This help present grassroots students with better job opportunity upon graduation. Then, colleges go and shoot the common people in the foot, and decided they only cater to rich upper class, which really isn't a big part of the population, and get less and less "customers", and they complain why no one is going to school anymore
imagine these schools teaching economics 101."why is the demand for pricy education so low when supply has not really changes? demand and supply graphs has something called price in them. if price is too high, demand is low, and quantity produced needs to be lowered cuz of lower demand. hence the school closings. Ofc in real life its more complicated, and this is so grossly simplified that imma get roasted
I can't agree more -- college was my way out of poverty and it certainly opened me up to new experiences. It was easy to get by on Pell Grants, Independent scholarships, and working 3-6 months per year. Not just that but you could, easily enough, even get a Master's Degree and have a total debt of roughly 10K or so. Add to that the fact that you could get a job that was the equivalent of 100K / year in 2024 dollars and you were set. Boy how times have changed [for the worse].
25 years to escape poverty 😮
Schools got way too many employees. They got to cut costs to students. The government subsidizing college was the worst thing to happen because universities stopped managing their budgets. They knew basically all students can just take out debt to pay for school instead of them charging reasonable prices. People are seeing that getting a college degree is not the golden ticket it once was and opting out.
W take. Student loans shouldn't be a thing, to be honest
Of course you can say that about anything.
US military, law enforcement, these institutions also waste a lot too. but we need people with tattoos, uniforms, and guns to make a lot of money.
The government subsides are not that much. Government grants and loans are small. They only amount enough to cover community College and some state university expenses. It amounts to a tiny fraction compared to what tuitions are nowadays. The loans that people are getting are not directly from the government nor do they have a decent interest rates.
@@rafaelbermudez1406 You're missing the point, so let me break it down for you.
1. The total FAFSA aid is not "small". Over the 4 years a student can get up to ~$28k in Pell Grants (~$3.5k per semester), up to $57.5k in loans ($23k of which is subsidized). That's $85.5k of funds that the government makes available to students.
2. That $86k essential becomes a floor of what universities will charge over 4 years. Ironic that you say government aid will only cover community college state schools, that's not a mistake. Before financial aid was implemented community college was free and state universities were cheap af/damn near free (relative to the buying power back then). They basically switched from FREE college to giving us loans and you all are like "THANK YOU, you're so kind".
3. Another reason government aid is so destructive is that the requirements to get approved doesn't take into consideration the person's income potential. If you were to get a private loan, the bank will need to be comfortable that you have the ability to pay it back. If you're broke now and you're going into a career that will make you $40k per year the bank will consider the loan extremely high risk and either deny it or require someone who can afford the loan co-sign not to mention hammer you on the interest rate. With FAFSA, someone can get $57.5k in debt for a liberal arts degree that they won't use, basically starting their adult life underwater.
4. As someone who has worked as staff in a state university, I know 100% there's a ton of fat they can cut in the schools budget to get it down. If the government didn't create this $86k floor, schools would be forced to do what every other business needs to do to stay around, and that's reduce expenses. Universities can easily cut 20% of their staff / switch to better systems and dramatically reduce cost to students without touching a penny of professors' salaries.
If someone goes to a private university, then that's on them, even for state schools, the system is destructive.
@@richardalvarado-ik9br Those aren't great examples as those are all funded directly by the government with tax dollars. I'm not taking out loans to pay for homeland security. Back when the government funded community colleges and state schools directly from their budget, it actually cost less (even inflation adjusted) and it was free to citizens.
Also, I disagree that we spend too much on the military. During times of crisis, the value of our military funding is priceless. The tech we've developed allowed a small country such as Ukraine be able to hold back a super power such as Russia, with a handful of rockets that we spent good tax payer dollars on.
People are no more stupid anymore paying too much money and not getting jobs, it’s better to be certified in 2 or three months and get a good paying job in less time and no student loans burden.
One of the worst things to happen to American society over the last several decades was the government deciding that everyone deserved to have an unlimited amount of money loaned to them for education.
No, it was when the government decided to privatize public universities.
College is the only industry that has seen a decline of efficiency/economies of scale over time. As enrollment increased in the 90s and early 2000s, costs per student rose drastically. The problem is that colleges/universities, have become an industry that lined its own pockets at the expense of debt riddled students. The main culprit being buldging back office jobs/support staff at universities rather than professors, as well as wasteful inefficient spending for buildings that were not classrooms. (i.e. luxury dorms and sports facilities). These buildings were often built with massive debt taken out by colleges that necessitated raising tuition. Students instead of looking at amenities should look at ROI for their tuition. What salary will they make for their major of study.
You mean the main culprit being student loans being offered and backed by Uncle Sam with no requirement?
Of course the schools will charge as much as they want they are being incentivized to do so with no consequences.
Students blindly sign on the line hoping they will make $100k when they get out.
😢
What you are touching on is the fact that higher education is no longer about the education, it's about the "college experience". And is marketed thusly. The goal is to maximize enrollment, not necessarily to produce educated citizens. Covid exposed the fact that the residential campus model, absent a humongous endowment, is not all that viable.
@Zachary Salazar ultimately down to the consumer. If they did their homework they wouldn't enroll in these low return programs and tuition would come down
@@G2_JP48well those consumers are 17 & 18 year olds just starting adulthood and are stressed with this momentous decision. I didn't understand why you wouldn't be certain of your career trajectory before committing 4 yrs of your time to it, but most students jump into the deep end with no clue of their future
"wasteful inefficient spending for buildings that were not classrooms" High Point University (formerly High Point College) has bought about half the commercial real estate in High Point, including 2 shopping centers/malls with no plans of what to do with it. but the president of the school still gets his $3,000,000 + annual salary.
My 17 year old sister is choosing to become certified through State Farm to sell insurance instead of starting college after her high school graduation. And I offered to move her down where I live to help her attend college but she wants to gain work experience and earn her own money first without taking on tremendous debt so early.
Smart lady.
@@iamedyson I know. I couldn’t be more proud of her.
@@Sublime_37how has it been going for you
Tell your sister to start at community college and look up CLEP credits she can earn up to 30 credits and get the remaining 30 at the community college.
Nice my fiancée is gonna start training with state farm as well. She did 6 years with the air force and now she’s gonna be working for State Farm
In my metro area two small universities closed both over 125 years old, both had absolutely stupid leadership.
Educational institutions often prioritize completion rates, and this emphasis is particularly noticeable in many community colleges. Unfortunately, some colleges neglect to acknowledge the alarming reality that students are graduating from high school without a solid foundation in basic arithmetic, lacking basic critical thinking, and someone detached from the economic reality they will be facing. The open enrollment policy is sometimes used by colleges as an excuse to evade the responsibility of assisting students in identifying their weaknesses. Tools such as placement tests, which could serve as valuable diagnostic instruments, are underutilized in this regard.
The problem with college is you only need 2 years to gain the knowledge you get for a bachelors degree. The first 2 years are a waste of time and would cut costs in half. This system should be changed worldwide
I agree, but many colleges use the first two years to allow students to explore different paths they might take. It also gives people with a subpar highschool education to catch up on basics like math/science.
@@sumanthaluri8398good point. My child felt they learned more in college than in high school. They were able to focus more because it was more of an adult setting and get the help they needed.
@@sumanthaluri8398 It sure seems effective to use the first two years (where it actually incurs a cost) to explore different paths and catch up on basics. In reality, it sounds like highschool just isn't cutting it.
@@sumanthaluri8398 colleges want to just make more money by adding two extra years
I thought 4 years was good for me. But back in the old days in Ontario (Canada), we used to have Grade 13, an extra year of high school if you wanted to attend university. I was 19 when I started, and I can't imagine being 18 (or 17 1/2!) starting university! Back then too, 3 year degrees were popular, but when we eliminated grade 13, 3-year degrees were dropped. Now in Canada and the US, I believe only Quebec has students starting at 19, a much better age!
You spent 4 years attending college. You owe $200k in student loan. You cannot find a job in your field of study. You juggle 2 gig jobs earning less than minimum pay. You have zero chance of ever paying off your student loan. This is why young people give up on going to university.
Should never get loan for school.
Pay as you go. Don't go to high priced schools.
Colleges were closing down, but not Community Colleges and Vocational Institutions.
That’s not entirely true.
My local (state-funded) community college had partnered with Rutgers in 2011 and eventually merged into them. Rutgers, in turn, closed down the primary campus of my former community college leaving an empty, vandalized structure falling apart in my neighborhood. This happened shortly after they had added a brand new 15 million dollar NASA wing. It’s such an eyesore to look at given it has been abandoned for over 12 years now. Our local government keeps fighting about what they are going to use the land for, so it remains dilapidated and empty.
Which community college?@@rebeckylee157
I did community college, went to a state school and graduated debt free. I make over 280k a year as an engineer.
I know of some parents who are upper middle class like myself and they refuse to send their kids to community college. They think it is beneath them. Their kids have to go to NYU, Villanova, Swathmore College, etc... Whats wrong with state schools?! You get the same education and work alongside the same people in the workforce.
My uni wanted me to pay for the rec center I couldn't use, the new health center I didn't need, and then finally told me I would have to pay $1200/term for their health insurance. Non optional, and I was told I couldn't enroll unless I paid for it... all on top of my tuition. Which they said was also being raised again.
I smiled and said, "Fine".
There are additional things happening. Men have given up on college compared to women. Colleges are run by administrators, not teachers. Tuition costs for anyone not in a STEM major are too high to justify loans.
Interestingly, in STEM the majority is male
A win for males.
As a man in stem I totally agree
@@mathisnotforthefaintofheartno they’re not. It might be closer to 50:50, but the femalés still dominate.
and you still have to pay for books and materials
When I went to college in the early 1980s it was still a kind of "rite of passage". Everyone went to college and it was more affordable for the middle class. My parents paid for my college no student loans needed. I went to a state school and tuition, room, board and books were about $1500 a semester. Now especially if you go to a private college you can graduate with 10s of thousands in student loan debt. If you do not use your degree or you do not graduate that is a lot of student loan debt weighing young people down for years possibly for decades. People are thinking twice before taking on that amount of debt you can not get rid of in bankruptcy.
10K? try 60K my friend
I can’t go to my dream school bc as an out of state student I’d be landing myself in nearly $300,000 in debt 🫠 (state public school)
@@squigglefifi6125thats insane bro. For a bachelor's degree?
A "rite of passage"? To see who could make it out without killing themselves?
Also, put on a shirt, ffs!
Colleges have become too expensive and most degrees are either worthless or not worth getting because the income will not cover the expense of the degree. It was dirt cheap to get a degree in my day, meaning it was well worth the gamble since I left college debt free, so it didn't matter as much if the degree paid off or not concerning employment.
As glad as I am to see these shutdowns of colleges that are inflating costs to an insane degree, I do hope the community college in my city remains. My husband is doing plumbing apprenticeship classes there, and I would love to go back and do an LPN to RN bridge at some point. Plus, the price is very reasonable for both the school part and the trades part
If colleges are struggling to stay funded based off tuition and students are struggling to afford tuition, it seems like there is only one logical solution.
Spend less on military to make schools free
Streamline from the top down. Administrators make up most of the financial bloat in college and regular schools. Also, shrink the endowments that colleges can hold and use them towards students tuition and materials not for financial managers clout.
The military is honestly not the problem but the cost of education is. Reduce the price and demand will increase.
You mean impoverishing poorer taxpayers and severely depleting the capital the wealthier ones have to invest in improving the world? How about firing useless DEI administrators and getting rid of grievance studies departments.
@@oh-yt9ug those days are gone, even if it was free kids wouldn't go to college because you no longer learn anything, you learn more doing yourself and watching youtube tutorials than any college has to offer
It was only from dropping out after 2 years of study that I realised how much of a scam the whole system is. My friends who graduated have careers that are far from their chosen course, barely earning much in comparison to their investment. What is taught in theory serve no purpose in the workplace, and what's worse, most end up wasting 4-5 years of youth rather than learning real skills, building on passions, and gaining life experiences. I hope those in the younger generation don't fall into this trap where degrees are placed on a pedestal.
4-5 years when your 18-22 are such important years too.. or can be
facts
that's why internships are important
Tell me you're a humanities major without telling me you're a humanities major.
Math and Science degrees are highly valued. They are not useless 😂
My school, suny potsdam, within the last 10 years spent millions on fancy performance spaces and renovations on the crane school of music, and now is closing most of the majors that use those expensive facilities
Most of our community colleges dropped the word "community" from their names on the lame excuse that they'd adopted at least one four-year bachelor program. The truth is, it was never about community and learning and was always about profit. I was an adjunct at one of these schools for ten years; I constantly saw frustrated, confused students barely passing their courses and often having to take courses over again because of uncaring, incompetent faculty and administrators. You could hear the "cha-ching!" with each repeated course. These places need to shut down.
You covered the story from multiple but limited angles. There’s the decision to go to college. Many kids are not interested in college anymore. There are many reasons but it goes back to social media and the perception of success. A lot of our current celebrities and “successful” role models have achieved their success without a degree. There’s also the role of colleges has shifted. They have become vocational career centers rather than a place to learn from the best. As such, shopping for a college is like shopping for a stamp on your resume. You don’t go for the love of learning, you go to say “here it is, I’m trained and I went to the best of the best” also why ivy leagues are so popular.
They've become propaganda machines too. Those who truly love learning can learn more online than at any college or university.
You don't understand how universities were originally designed. Many didn't admit women or very few women, they were for the brightest and/or wealthy. The brightest students do well in university, prepare for graduate/professional (Law, Medicine, Architecture, Accounting, ect) school and do research to expand our knowledge. The wealthy fund universities, start businesses, hire graduates, have the ability to pay tuition, get connected with each other. They were very selective in who was admitted (rich kids, and bright kids). University is designed to give rich kids a socially acceptable way to waste a few years/prepare for real world. Universities have forgotten the function of wealthy alumni, the hiring, the network, and connecting with corporations, this has been replaced with government student loan programs. Athletic success brings alumni money, even the ivies understand this and spend money on boating, rowing, lacrosse, and other wealthy elite games. You don't see many universities being selective in admits (for $$$ grab). Then there is the research aspect, professors publishing research ect - but that's a different ballgame. Most university professors publish worthless garbage that isn't useful (a few are good though) and teach 1-3 classes. Vocational education is different than university education and is much more efficient (community college, trade school/apprenticeship, employable majors (accounting, nursing, computer science ect) but they are designed to put people into the middle class, university is for the elites. Having more than 15% of US go to university is a waste in my opinion. I'd say we need about 10-15% in university, 15-50% in vocational education, and 50% to just graduate HS. That matches the workers with private/public sector work. I'd also say most kids that go to universities are wasting there time, when you are done with university, you need to keep learning until you retire. Not quit learning after you graduate or barely learn anything while in university.
So about the vapes and the flavors
@@user-rf1nn8sg3f I like that 15/35/50 concept. And choosing a frivolous major (BA in Medieval History and MA in Medieval Weaponry) is probably a waste of time and money.
@@julieerin115 Imagine the university has a large network of people hiring recent graduates, starting businesses, donating to endowment, supporting athletes... The BA in Medieval History can be worth it, not because of the schooling but because of the alumni network.
An unmentioned factor is the schools have failed (at face value). Industries complain the skills gaps are not being filled by students and are getting worse.
This issue is a huge factor. Maybe it's why alumni and philanthropists ignore the schools.
Ps, the "declining birth rates" might be a factor that's calculated into the closures.
Its not an accident that all the colleges closed were liberal arts schools. Centers of indoctrination rather than skills acquisition.
Not in California, where students leave and start entirely new industries that replace old ones.
this guy failed miserably in his reporting of facts and truth. College is overrated and over-priced. Many have found out that the cost is not worth it. It is a simple business decision. Nothing to do with not enough people ect.. why get yourself in a life time of debt when all you can get in a job market is pouring coffee in some cafe? This does not pay the rent, feed you and the same time or provide for a family. you can do that same job without going into debt. as for mismatch between industries and school. School is not suppose to train you for just one industry unless you are in a specialist field like medicine, law ect.. for the most part, industries who complain and expect them to do this are simply lazy and should start spending the money to hire people and train them. what if this stupid industry goes under? colleges are generalists for good reason.
@@stalbaum Good point although California seems overhyped "all" the money and brain power is parked there but the end products doesn't match the capabilities...
Just an outsider perspective, I haven't seen any patents of people are working on lol
@@chilray4706 just keep telling your children that. Our children will turn them into useful cogs.
Used to work in a small liberal arts college in West Virginia. It is in the middle of nowhere and the closest city is Pittsburgh which is 150 miles away. The town where the college is located has only one Kroger and one Walmart. No museum, no shopping malls, no Starbucks, no galleries, no theatres. I was Associate Professor. I was paid 55,000 dollars annually, no dental insurance. The living cost there is not cheap at all. The people working in the college literarily do not know anything outside West Virginia. Nothing. Zero. They tried to enroll international students but messed up with their slogan "International Students Don't Bite" in their International Student Festival (It is true). The ceiling in my office was broken and never repaired because of lack of fund. I worked hard not to contribute to the college but to build my skill set to get out of there. I made it. Now, I live in a big city with a very nice house working in a good public university. I was paid much better. The city has a lot of malls, museums, markets, galleries, a NBA team whose stadium is 25 minutes away from my house (I have been a huge NBA fan since teenage years). Its international airport is 20 minutes away from my house and I can go to Europe nonstop in ten hours and most of the major cities in the US and quite a few international major cities nonstop. I cannot think of any reason I stay in my previous institution in West Virginia. As mentioned above, all my hard work there is for the hope to get me out of there. I am so glad and proud that I made it. It has been my biggest accomplishment so far.
"International Students Don't Bite" LMAO NO WAY. 🤣🤣 That just made my day. 😁
Anyway, I'm from a farm town in southeast PA and went to Penn State chiefly to get the bleep out. Nice town to be from, but I had to leave.
Thanks for the comment. I've been to PA quite a bit and I have been to Penn State as well. Very nice campus! I went to Ohio State by the way 🙂@@r5t6y7u8
The biggest problem has been brewing over the past 50 years: tuition inflation greatly outpacing average salary growth. We’ve reached the point where going to college no longer makes financial sense for all but a few departments (e.g., STEM).
How to avoid having to shut down your college:
- stop the activism
- cancel useless degrees
- actually teach the kids something
- have high standards
- help them get jobs
- stop being crooks by charging the price of a house for your degrees
You're welcome.
Or don't go and do an apprenticeship or go into military
@@nicholasthompson7690 even better
@@nicholasthompson7690 military doesn't last long... I live in a military town, my dad was military, my brother and grandpa. None of them retired. And we see the max career for military is 3 years, there's so many dudes getting dropped daily and the suicide rates are so high because of that. Nothing in life is guaranteed.
@@nicholasthompson7690 Easier said than done. An apprenticeship or serving in the military won't lead to career that involves the genetic manipulation of various microscopic organisms or human experimentation.
@@richardfloridaman - You left out the GI bill.
Lots of smaller private "good for nothing" colleges closed down. And that created a spike in enrolment in public institutions, where I work. Couple of years back, IIT closed down and that really gave us a boost
i wonder why Boomers were richer than us without Going to college despite smoking weedsb
@@asianguy86money went a lot further back then
@@Worldaffairslover what??? Are you serious they even had lot lot of money for smoking weeds too 🤣🤣🤣 for vhp Tapes too
Boomers where richer because they had unions and because the government taxed the snot out of the rich. So money actually trickled down to us. Not stayed with the top
@@asianguy86 C'mon Charlie, you know nothing of what you speak of.
I supervise in retail. I work with people who went to 4+ years of college & are $80k+ in debt. They work the same position as me.
Yes, but you'll be stuck in the same job until you die......
Choosing a college in the most expensive city in the country so you can visit a public park on the weekends or study at a particular coffee shop. What a sound method of decision making.
A bit disappointing that the video didn't cover any of the costs for these colleges to offer a degree. A simple pie chart breaking down what "services" the college offers and the costs associated with it would go a long way towards understanding why these colleges are struggling
As a 2011 college grad I appreciate the success I’ve had so far because of it. However, this system needs to drastically change. I have a 4 year degree that I really only needed 2 years to get the knowledge needed for my career. So many classes are just a waste of time and money. I hope Gen Alpha is treated better it’s their turn.
You nailed it, first 2 years, basically REPEAT everything u already studied in high school, only the last 2 years u learn the major you're interested on, wasting precious time of your life you will never able to recover and huge amount of money in the process.
I did a community college program and have done very well, but as a middle aged man the lack of a full on degree causes concern about my career opportunities later in life
@@andis9076 not even just a repeat but stupid classes too. I wanted to go for Accounting but had to do Business Administration. I had to take 3D Art, religion, even had a class where we talked about art being natural or technology due to emerging AI. And the college justified it by saying “we want to make you a well rounded student”
@@robertshelton3796 I hear you on that one. Almost every position in my office requires at least a Bachelors.
In defense of Gen Ed classes, one of the things that has served me extremely well from my liberal arts education is the ability to synthesize and write. I work in the actuarial world, full of tech and numbers and nerdy brainiacs. One way I've definitely stood out over the years is my written communication skills. Most of my public university colleagues, that concentrated on things in their major, are awful. The upside for me is I don't have to work very hard to be "exceptional", but I wish more people were better at it.
People realize becoming successful in corporate America is not about having a degree it’s more about who you know. Many people have been turned down for opportunities because of their degrees as the interviewer becomes afraid of the prospect possibly becoming a threat to their job.
very true
This essay omits what I think is a very critical trend, the rise of non-standard college attendees. Business schools used to be able to charge a small fortune for an evening MBA class, but more and more people are going to Phoenix or WGU because you can save 6 digits for the same degree. It's practically standard to go to a community college for your base classes to save money.
The exhorbitant costs of colleges are cutting out the cash cow middle that a lot of schools relied on.
There were too many colleges to begin with. Student loans were always a scam and helped the college industry stay alive. You don't need to attend a brick-mortar college. Only medical school needs attendance in a physical building. I got a technical diploma from a correspondence school, and never felt disadvanted.
Can anyone tell which college give 100 scholarship on Sat score. I am outsider hard to find and even don't know range of sat to get 100 tuition off . Its 1350 ,1400,1450 . Name the college for cs
@@mr.top10creation79 not possible 🤣🤣🤣
Exactly. Colleges and universities are dinosaurs. They've outlived their usefulness and have become counterproductive.
@@mr.top10creation79 USC gives you full tuition if you do well on the PSAT(and get into USC), which is similar to the SAT. You'll need to score in the 99th percentile to be eligible. Look up the National Merit Scholarship. You'll just be paying for housing and food. All 4 years. Their computer science program has amazing placement in Silicon Valley.
@@MLGDatBoiThe PSAT is just the Preliminary SAT.
A college CFO-type friend of mine said there’s something called the “2025 Cliff”. Basically birth rates dropped significantly after the 2008 Global Financial Crisis, so 17 years later (2025) the number of entering freshmen will drop dramatically. Colleges are well aware this drop will happen, but he anticipates a lot of weaker colleges merging with healthier colleges and, frankly, a lot of weaker colleges simply closing. Also he said there will be more sales to foreign students from China/India who are willing to pay cash for an American degree and don’t use any student aid programs. There are no plans to drop prices to boost demand, as colleges have gotten too comfortable charging 17 year olds Porsche money for a 4-year sociology degree or, better yet, Ferrari money for a 5-year sociology degree.
Edit: He also said the rise of now-common sketchy professional certificate courses (eg 12-week certificate in “analytics” from Big Name University extension school) are pure profit centers for colleges; they cost very little overhead and bring in a lot of money.
Yeah, that’s what the video is about…
Yep, get a college degree with no certainty of a well-paying job but a certainty of paying for a Ferrari for the next how many years.
It's pretty easy: spending 200 grand on a gender studies major doesn't get you employed and the violent hispanic militants invading the country don't need a degree to sling meth or murder kids.
@@betchpuddin4545ALWAYS!!! I don’t mean to downgrade anyone, but do you ever notice the ones with their degree are also / always the dumbest? Always book smart and not street smart (they’re more so survival dumb).
I went to a big flagship public school for chemical engineering and a “fun” double major, it was still like $8K/year in tuition. Now I’m in my PhD at a well known (HYPSM) private school with free tuition and a $50K/y stipend. I don’t think college is always a bad idea, but it certainly depends. Small, expensive, PUI, private schools should die out because they’re usually for-profit without actually claiming to be for-profit-they benefit the admins. Some examples of this are low-ranked, cash cow schools like St. Olaf in MN, or Liberty university in VA. Major flagship public research institutions (UW:Madison, UMN, UMich, UVA) and top tier private schools (princeton, MIT, Stanford) will be fine, and are more relevant for technological advancement and national competitiveness than ever.
As someone who completed their course work in a doctoral program along with three chapters in their dissertation before my school (a private for-profit school) closed and then using the experience for my dissertation investigation proved invaluable to me. My study investigates "How people get through life challenges with a ten-dimensional ecosystem of support" with thirty people who experienced the life challenge of the school filing for bankruptcy during their dissertation study.
- Coping skills of faith, personal change management, immersion (focused depth), empowerment motivation, and endurance conditioning;
- Resources (tangible and intangible)
- Relationship Depth (mentoring support and accessibility)
Each of these areas exists for people going through life challenges in ten life dimensions: emotional, social, cultural, intellectual, environmental (personal and public), political, economic, physical, and recreational which all exist within a spiritual atmosphere.
I live in Virginia. A major factor is that a lot of the bigger more prominent state schools are growing enrollment. Some students that traditionally went to other Virginia colleges are now going to Virginia Tech for instance.
Mediocre private colleges are at risk. Everywhere else should be fine.
Yeah. I cant say i have too much sympathy. I was duped into going to a For-Profit college, spend 12k for one year before i realized my mistake and their serious lack of education ability before i dropped it and went to a state funded college. Still spent countless years paying off that loan of course.
Mediocre colleges like Harvard
@@lyianx Some state schools are far from cheap
Not every one gets a chance in good college
@@lyianxa trades degree would have been better. Try trades.
I learned a trade in the military, went to trade school, then had the GI Bill pay for my college. I graduated with honors but found college to be the most useless out of my path. I think people are waking up and it’s about time.
It's the same with me. I have 8 years in the Navy and have a rate that will directly translate to civilian/GS side. I have 18 months left before my EAOS, and my GI Bill is more of a last resort than a plan A. Nice to know my college will be paid for if I decide to go, but I already have a trade and certifications
Depends on what you go to school for. I got a degree in philosophy before I joined the navy and became a navy nuclear submarine officer. I couldn’t put a price on the critical thinking skills or life skills my degree allowed me to attain.
And how much do you make a year? Let’s see some numbers and proof
@@0IIIIII 🤔 I do just fine, worry about your own numbers & proof.
College is never useless it depends on the degree you are getting. How can you compare music studies with oncology it is different you can't compare with engineering subjects also and a lot more. I think it is high time Americans take a closer look at some of the damage you are causing by saying college is useless but instead choose a course that is career-wise or don't condemn college at all. Take a closer look at Canada and you will know the difference they want their citizens to enjoy education and even international students as well. We all need to be accountable for our actions when it comes to our countries am not from the States but am sure there is a lot of harm done even citizens put a lot of stuff online which mist was not how it is.
My university in 2017 was already struggling to bring in new ungraded students. I’m not surprised if pacific university is completely shut down at this point on the undergraduate side.
after attending college for a year and a half. i'm really not thinking of going back. my classmates then are still unemployed to this day. some are but not in anyway related to their degrees. it's really just pointless.
Looking back at my college years to life in the workforce,college curriculums may want to reconsider pairing the courses needed for jobs, teaching the skills needed whether you are self employed or employed by a company. There are far too many elective courses that serve no purpose but for school’s profit and put you debt and you are able to apply in the workforce.
They serve no purpose for you, if you went to college you should have learned that what may not be important to you could be a definitely good direction for others. Simple minds need simple answers it seems.
He is clearly talking about himself?
@@MrDecessusif you're an engineering major, there's no need for you to take half the humanities and elective courses you're forced to. I don't need to know art history to be an engineer but I have to take a similar type of class to get the degree. It's nonsense
@@HH-le1vi Tell me about it. The worst was that I was able to shuffle the schedule around so that I basically had nothing but relevant STEM classes at first but then the last year was hell on earth as I took a bunch of degree cleanup classes full of freshmen. It's even more pointless when you're about to graduate and you have to take "comparative philosophies of literary figures" when you're wishing you could be in another 4000-level math class.
I taught at 7 colleges in 45 years. The biggest expense I had as a Dean was the costs of technology, computers, software, tech classrooms and staff. We didn't need this before 1995. It's a killer.
You didnt need staff before 1995?
@@callmeosho7792 there has been an increase in staff.
But an increase in IT expenses is not only for colleges. What do you think of companies? Hospitals?
Can anyone tell which college give 100 scholarship on Sat score. I am outsider hard to find and even don't know range of sat to get 100 tuition off . Its 1350 ,1400,1450 . Name the college for cs
IT existed before 95 and it was more expensive then, and the best software is free. Also, IT when properly used should bring down expenses.
College costs more than ever, with little to no ROI, and people wonder why enrollment is falling off a cliff lol
This is music to my ears. Colleges shouldn't cost a lifetime of debt...
Part of the problem (that's decades in the making) is that highschools don't produce students that can handle college. I taught at a private college a few years back and constantly had students lacked basic math, reading, and writing skills - things I had (seriously) learned in 8th or 9th grade. And these students were graduating, getting to college and expecting K12 'oh its ok, we'll just reduce the course expectations and the grade curve'. Which creates an interesting bind because these students have to then graduate, get jobs (which our school measured programs against), and set up the reputation for our school (hurting every other student for every person we pass who isn't ready to work). And our course-load was intensive to get people ready for actual careers (that's what people were paying for and why companies were looking to our graduates).. so what are we supposed to do with remedial students? And when we failed them their parents literally came to the school to speak to the department chairs and the folk running the school to complain we failed their precious little 20-something adult. This was 15 years ago and from what I hear from those still in that field (and from interns we get at my current company) things just kept getting worse from there. You want effective colleges, K12 needs to step up and start either getting everybody up to a basic standard or failing people, because colleges can't act as 'finishing school' for missed work.
The other part of the problem is that colleges are alternatively either the 'holy grail, critical for everyone, only way to get a job, its not fair little timmy didn't go to college' or the boogieman of 'woke liberal bastion that only exists to lord over Real hard-Working people!!'. And both views are idiotic. Colleges exist because there are certain fields that have concentrated bodies of knowledge that (given the progress of humanity) we just can't 'learn on the job' anymore. There's just too much. Its gotta be compressed and shoved into a student's brain as fast as possible for us to have a functional competitive workforce... in Certain fields. They are not the Only fields. They are not the Right fields for everyone. There is nothing wrong with the other fields. You don't need college to learn to fix a car, or plumbing, or be an electrician - they are hard, necessary, well-paying jobs, but they are jobs that are better and easier to learn through 1:1 apprenticeship. You Do need college to be an effective doctor, programmer, etc. these days because (unlike 20+ years ago for programmers) there is just way too much for anyone other then a legit genius to learn on their own and be productive. Even with college it takes us months to ramp up some folk, and they cost a company a Lot of money getting them there.
And yea, costs have become stupidly high. College, like trade schools, like apprenticeships, like K12, are critical to our nation. We need every generation to be ready to pick up the torch. It isn't about 'who is deserving'. Deserving people get scholarships anyway, and there's nothing 'deserving' about your daddy being a stock trader. College should be cheap (like in the 50s) or free (like in many other successful countries). Free and competitive, where you gotta fight to get through them, so those papers go back to meaning something. And hiring because of what the paper says, not because it exists - why the hell does a management job accept a college degree in theater or medicine? If you require a degree it better be because your company needs what that degree taught. If it you don't need a specific degree / field, stop listing 'college degree' as a requirement - especially if you're not willing to pony up and cover the costs for what you're requiring. This isn't a morality 'I'm better then you' game. An educated competitive populus / workforce is as critical to a nation as its military or emergency services. We literally cannot compete in most industries (short of offering up sweat-shot labor) without this. And we're failing. Badly. So... so incredibly badly. Ugh.
The students of my generation (70s and 80s) in my state did produce well rounded graduates. I was extremely lucky to go to school where I did and when I did. There is not a day that I don't remember and am not thankful for that. I had excellent teachers that cared about the students. I have no idea how the schools are today as I have lived overseas for 20 years and do not have as good of a read on how things are.
But with the political jungle of corruption out there, having the taxpayers pay more in taxes to the government doesn’t mean that you are getting real value from a “free education” For heavens sake, they already have lowered any standard of grading that reflects a true evaluation of what is really being learned (so no one will get their feelings hurt)grade schools pass failed students every year, middle schools and high schools do also.I am no longer impressed with Ivy League schools- they are now accepting students on the color of their skin rather then the students ability to think logically, only respond to emotion….
When I was attending my local junior college I worked at a pizza place. A kid used to come in at lunch tine (the local high school had open campus) One day he stayed after he should have gone back to school and my boss told me to kick him out. Turns out he had dropped out so I let him stay. A short while later he came in and told me he was working for a landscaper w/ a garden center and he liked it. After about ten months he came in to tell me the old man told him if he would go back to school for some things he needed, he would let him buy into the business and he could take it over when the old man retired. That's what he did. The kid told me high school was boring and irrelevant and no one ever talked to him about what he might like to do with his life until the old man gave him a chance. Degree snobbery is a major waste of lives.
@hypnokitten6450 Too bad your comment has not received more upvotes and attention. You have hit on a lot of the problems with higher education right now.
Although much of this rings true, I can't agree with your suggestion to (in essence) "hire ONLY for the major listed on the degree"...if that were to be the policy in place, this would be hurting not only the hiring company by limiting the pool of potential applicants/potential for growth, but you would be making it far more difficult for those who are going through a career change (at least for most non-specialty jobs). This of course depends on the career- I wouldn't want my civil engineer to have a non-engineering degree/certification, just as I wouldn't want my doctor or nurse having unrelated degrees. For most non-specialized jobs, however, I don't see new talent and new perspectives as a negative, especially if these potential employees are competent and bring the necessary experience or certification coming into that job. Let's face it- the number of 17-18 year olds going to college for the first time RARELY know exactly what they want to be doing for the next
30-40 years post-college. How should they be expected to choose one job focus/major for essentially the rest of their working lives, and why should they be pigeonholed there? That doesn't seem right either.
Going to college is the second-greatest regret of my life. Yes, I graduated.
They’ve been deemed useless. Most of the majors they offer don’t pay in the real world especially ones that pay to make a decent living
when covid hit during my last year of college, i wasnt allowed on campus or able to use any facilities and they still made us pay our full tuition. I hate it here.
Simple: Colleges are businesses and any business can fail. Doesnt help that college is too expensive and asks you to pay for courses to complete your major that have absolutely nothing to do with your major which, for the potential student, is a complete waste of money.
The value of a college degree is eroding while the cost of getting one is skyrocketing. It's pretty basic to see how unsustainable it is to overeducate a population that has less and less prospects of getting a return on that investment.
It's sad but I realized this by my junior year when I was missing classes a lot due to getting job opportunities through summer trade programs where I learned video editing, and I saw that my peers who were dedicated and getting better grades at the four year program where struggling to find any opportunities in our field of study and working minimum wage unrelated jobs just to stay enrolled.
Makes no sense, but I'm glad I chose to make my own path and follow my intuition and took the work instead of wasting more time and money I didn't really have. No matter how much judgment and grief you get from friends, students, and your parents. Trades and skills are ultimately what is gonna pay your bills, you can still hook up and binge drink on weekends without getting into six figure debt after all. It's not like overpriced schools are the only place to be social and meet people and form deep relationships.
What summer trade programs offer an opportunity to learn video editing?
@@justjackie4394 I guess it wasn't a "program" per se, it was just a course I took on advanced editing techniques taught by a SVA instructor that had been mentoring me in high school. I was self taught when I got into this afterschool youth film program by HBO and met him. So the summer before starting college I took this 4 week course at SVA. Funnily enough the people I took it with had already graduated college but yeah from that I got to basically edit lots of thesis films and stuff even though I wasn't even eligible to take advanced film classes yet, and that led to paid work once those older kids graduated.
There are still continuing education courses like that offering actionable skillsets you can make money from on day one. NYUSPS is one, later on I took this Master the Workflow online course that prepared me for working in high budget film and TV editing. And it was only 1500 dollars. Literally paid itself off the first week of a job I got right after.
@@PanteraRossa what you said was really inspiring. I’ve been seriously considering learning video and film editing after going to community college for 2 years and changing my major so many times and still not knowing what to do after leaving college. Can this 1500 online course be taken without any prereqs? How else do you recommend learning video editing? I’ve read about the multiple ways it can be done online but it would be great to hear from someone that’s actually doing it if you don’t mind sharing?
@@jasminecontreras7341 don't do it!
College degrees have less and less value for corporations every year.... it's all about who has the skills and experience and NOT who has a fancy paper from a university.
College today is a joke. Tuition is outrageous and the fact most students need to attend graduate school before their career begins. It all starts with high schools teaching more practical courses to promote the trades. They are vital skills that work in the real world.
Unless you are enrolled for a science or engineering, IT it's a waste of time.
Graduate college in debt
Get rejected for having no experience
Work minimum wage job to pay off debt
Pay off debt decades later