Colleges Lose Pricing Power

[Cheesesteak]

http://online.wsj.com/article/SB1000142 ... itorsPicks

How much will this impact SMU?

[Digetydog]

http://online.wsj.com/article/SB10001424127887324442304578231922159602676.html?mod=WSJ_hp_EditorsPicks

How much will this impact SMU?

Schools with high debt service and small endowments are going to get killed. SMU is going to need to cut out the idiotic administrative costs that schools have been adding. Plus, kill off majors that don't lead to jobs like [name] studies.

[ponyboy]

Become a trade school in other words.

[Digetydog]

Become a trade school in other words.

No. There are legitimate liberal arts majors and Meadows is world class.

I am talking about bull... classes like Music the Art of Listening and BS majors on every campus. If the majors don't lead to successes by a significant number of the students (jobs or grad school), they should be cut. Spending $200k for a degree leading to a job at Starbucks is obscene.

[SMU2007]

Become a trade school in other words.

Spending $200k for a degree leading to a job at Starbucks is obscene.

Agree but people pursue majors and don't think twice about future job options that may lead to, or the cost of that degree vs benefits down the road. Gotta take some personal responsibility

[Digetydog]

Become a trade school in other words.

Spending $200k for a degree leading to a job at Starbucks is obscene.

Agree but people pursue majors and don't think twice about future job options that may lead to, or the cost of that degree vs benefits down the road. Gotta take some personal responsibility

Absolutely, but I think the student loan/parent gravy train that schools have feasted on is going to come to a halt. Going forward, I expect more and more students/parents will avoid huge debts to fund degrees in Audio Visual Education, Indoor Recreation (a real major at UH), and Ethnic Studies.

Frankly, I think that it is a good thing.

1) We are sending to many kids to "college." Many of them would be better off learning a useful trade instead of incurring a huge debt to get a useless degree.
2) In both public and private colleges, administrative costs have skyrocketed in the past 20 years. That will have to stop and dead wood will need to be cut.
3) Adding idiotic majors like Chicano Studies has proven to be a disservice to students. They don't prepare students for grad school (except in Chicano Studies) and they don't lead to good employment. After graduation, students end up stuck with huge debts and job opportunities at Starbucks.

[couch 'em]

That's my problem with community colleges. If you are enrolled at one but plan to go to a university (except as a means to save money) you should instead become am electrician or something. Making kids work their way up to eek by with a English degree from UNT is taking advantage if them. A trade pays much more

[whitwiki]

Would you encourage your kids to become electricians?

[couch 'em]

If they didn't have the knack for academics, a trade is a better option. Many I went to high school with went to community college, floundered around wasting money on school, etc. Now they work in the modern sweatshop (call center) or other $9/hr job. Meanwhile those who went to HVAC tech school or welding school are doing pretty good.

[Digetydog]

That's my problem with community colleges. If you are enrolled at one but plan to go to a university (except as a means to save money) you should instead become am electrician or something. Making kids work their way up to eek by with a English degree from UNT is taking advantage if them. A trade pays much more

When I was 27, I represented a client in a few collection matters. He was 28, a plumber, and ran his own commercial contracting business. While I was still paying off law school loans, he was living in a really big house. Good tradesmen can make a great living.

My neighbor is sending his kid (very smart) to learn how to be a master machinist. Although a math wiz, the kid doesn't want to go to college. I think that they are making a good decision.

[SMU2007]

Price per value community college, at least for the first year or two, is probably the smartest thing you can do. Lets face it: almost no degree, except for some of the engineering tracks, really prepare you for any sort of job. You are just paying for a piece of paper that says you are qualified enough to begin learning at the job site.

[Rayburn]

My middle son passed on college two years ago to apprentice with an electrician. He's doing very well right now while my oldest boy -- a college grad -- is slogging along at a good-but-not-great job.

Life is going to be tough for some of these kids.

[03Mustang]

I transferred into SMU from Richland College and got a huge chunk of my tuition knocked off as a result...I transferred 62 hours (the max) and was admitted to directly to Cox, where I finished off a BBA in Finance in two years. All in all, the total cost for me to attend SMU was about the same as it would have been for 4 years at a state school, with a much better end result.

While I lost out on some of the social elements of college, in the end I think it was one of the best things I could have done. I know I'll be recommending that my kids do the same when the time comes unless they are able to earn scholarships to go straight to a 4-year school with little or no cost.

I do know plenty of people that went to Tech or some other school for one semester, showed up at Richland in the spring, and then stopped going to college forever. Some kids could use a "ramp-up" into the experience so they don't get burned out or die of alcohol poisoning in their first year, too...

[smusic 00]

Apprentice in a trade, take a few business classes at local CC. After 5 or so years of experience, start your own biz and build it from there. That's what most college grads want anyway. They're just 4 years behind with zero skills - but lots of stories.

[Alaric]

Just the beginning. wait until the govt can no longer subsidize student loans, home loans, whole industries, our social welfare net, agriculture and cuts spending 40% in the new austerity that's looming. Oh wait, we can just print money so that MAY not happen. Of course, a gallon of gas may cost $43