College bubble and housing bubble

[bearishgurl]

In answer to your question, Scarlett, parents and students aren’t going to pay for programs they can’t get classes for and can’t finish. They aren’t going to pay to drive several hundred miles per week back and forth to different campuses just to get the classes to finish up. When parents and students figure out that they aren’t getting any value for their money in the CSU and UC systems, then enrollments may fall at such a rate that those system priorities will change in order to sustain itself. Until then, the status quo prevails. The twice yearly fee hikes are all about fueling the retirements of system instructors and employees and keeping their pension fund solvent. Right now, in most degree programs, a student is NOT guaranteed to graduate in four years if they successfully complete all coursework. They are unable to because the classes are simply not offered, or not enough classes are offered to meet the demand of the upperclassmen who have been admitted to a particular program and need those classes for graduation.

[UCGal]

[quote=Scarlett]I was reading a good post by Dr. Housing Bubble

Financial land of perpetual bubbles – California technology, real estate, and now higher education bubbles. In 1980 the median California household income would have purchased 17 UC bachelor’s degrees. Today it can barely purchase one UC degree.

What do you think about the college bubble? What do you think it is going to happen, and when?[/quote]
I think the bubble is already here. Tuitions and fees are high, and with budget cuts, it’s hard for students at public schools to get classes.

I’ve been socking money into the 529’s for the boys. I’m hoping they’ll be able to go to a UC or CS school.

I think WW has a point – college education doesn’t mean a job anymore… So as the kids get closer, perhaps we’ll encourage them to go to a vo-tech school… plumbers and mechanics make decent $$.

I do look at college (or vo-tech) as being for job preparation – if I’m paying for it. I’ll have the same strings attached that my parents did: career oriented major, decent grades or you’re cut off etc. (I wanted to be a poli-sci major and was told “good luck paying for that – we won’t”.)

As far as when the bubble will burst… It’s reaching the unsustainable point. In theory, it has to burst at some point. In the meantime I keep putting $ in the 529’s.

[UCGal]

[quote=Scarlett]I was reading a good post by Dr. Housing Bubble
http://www.doctorhousingbubble.com/financial-land-bubbles-california-technology-real-estate-higher-education-bubbles-university-of-california-tuition-student-loans/?source=patrick.net

What do you think about the college bubble? What do you think it is going to happen, and when?[/quote]
I think the bubble is already here. Tuitions and fees are high, and with budget cuts, it’s hard for students at public schools to get classes.

I’ve been socking money into the 529’s for the boys. I’m hoping they’ll be able to go to a UC or CS school.

I think WW has a point – college education doesn’t mean a job anymore… So as the kids get closer, perhaps we’ll encourage them to go to a vo-tech school… plumbers and mechanics make decent $$.

I do look at college (or vo-tech) as being for job preparation – if I’m paying for it. I’ll have the same strings attached that my parents did: career oriented major, decent grades or you’re cut off etc. (I wanted to be a poli-sci major and was told “good luck paying for that – we won’t”.)

As far as when the bubble will burst… It’s reaching the unsustainable point. In theory, it has to burst at some point. In the meantime I keep putting $ in the 529’s.

[UCGal]

[quote=Scarlett]I was reading a good post by Dr. Housing Bubble

Financial land of perpetual bubbles – California technology, real estate, and now higher education bubbles. In 1980 the median California household income would have purchased 17 UC bachelor’s degrees. Today it can barely purchase one UC degree.

What do you think about the college bubble? What do you think it is going to happen, and when?[/quote]
I think the bubble is already here. Tuitions and fees are high, and with budget cuts, it’s hard for students at public schools to get classes.

I’ve been socking money into the 529’s for the boys. I’m hoping they’ll be able to go to a UC or CS school.

I think WW has a point – college education doesn’t mean a job anymore… So as the kids get closer, perhaps we’ll encourage them to go to a vo-tech school… plumbers and mechanics make decent $$.

I do look at college (or vo-tech) as being for job preparation – if I’m paying for it. I’ll have the same strings attached that my parents did: career oriented major, decent grades or you’re cut off etc. (I wanted to be a poli-sci major and was told “good luck paying for that – we won’t”.)

As far as when the bubble will burst… It’s reaching the unsustainable point. In theory, it has to burst at some point. In the meantime I keep putting $ in the 529’s.

[UCGal]

[quote=Scarlett]I was reading a good post by Dr. Housing Bubble

Financial land of perpetual bubbles – California technology, real estate, and now higher education bubbles. In 1980 the median California household income would have purchased 17 UC bachelor’s degrees. Today it can barely purchase one UC degree.

What do you think about the college bubble? What do you think it is going to happen, and when?[/quote]
I think the bubble is already here. Tuitions and fees are high, and with budget cuts, it’s hard for students at public schools to get classes.

I’ve been socking money into the 529’s for the boys. I’m hoping they’ll be able to go to a UC or CS school.

I think WW has a point – college education doesn’t mean a job anymore… So as the kids get closer, perhaps we’ll encourage them to go to a vo-tech school… plumbers and mechanics make decent $$.

I do look at college (or vo-tech) as being for job preparation – if I’m paying for it. I’ll have the same strings attached that my parents did: career oriented major, decent grades or you’re cut off etc. (I wanted to be a poli-sci major and was told “good luck paying for that – we won’t”.)

As far as when the bubble will burst… It’s reaching the unsustainable point. In theory, it has to burst at some point. In the meantime I keep putting $ in the 529’s.

[UCGal]

[quote=Scarlett]I was reading a good post by Dr. Housing Bubble

Financial land of perpetual bubbles – California technology, real estate, and now higher education bubbles. In 1980 the median California household income would have purchased 17 UC bachelor’s degrees. Today it can barely purchase one UC degree.

What do you think about the college bubble? What do you think it is going to happen, and when?[/quote]
I think the bubble is already here. Tuitions and fees are high, and with budget cuts, it’s hard for students at public schools to get classes.

I’ve been socking money into the 529’s for the boys. I’m hoping they’ll be able to go to a UC or CS school.

I think WW has a point – college education doesn’t mean a job anymore… So as the kids get closer, perhaps we’ll encourage them to go to a vo-tech school… plumbers and mechanics make decent $$.

I do look at college (or vo-tech) as being for job preparation – if I’m paying for it. I’ll have the same strings attached that my parents did: career oriented major, decent grades or you’re cut off etc. (I wanted to be a poli-sci major and was told “good luck paying for that – we won’t”.)

As far as when the bubble will burst… It’s reaching the unsustainable point. In theory, it has to burst at some point. In the meantime I keep putting $ in the 529’s.

[EconProf]

There are some erie parallels between the housing bubble and the college bubble. While the housing bubble peaked about 5 years ago, the college bubble is showing signs of peaking now.
An unholy alliance of college administrators, faculty unions, a loan-happy federal government, and anxious parents have combined to push up college costs beyond reason, created an excess of college grads with silly degrees, and an army of embittered debt slaves now realizing they’ve been duped.
The denoument of this play will be long and bloody, but healthy. Faculty will have to increase their shrunken teaching loads, campuses stop the arms-race of physical plant, administrative bloat slashed, useless majors dropped, the party atmosphere curbed, and political correctness challenged, just for starters. Its a good thing.

[EconProf]

There are some erie parallels between the housing bubble and the college bubble. While the housing bubble peaked about 5 years ago, the college bubble is showing signs of peaking now.
An unholy alliance of college administrators, faculty unions, a loan-happy federal government, and anxious parents have combined to push up college costs beyond reason, created an excess of college grads with silly degrees, and an army of embittered debt slaves now realizing they’ve been duped.
The denoument of this play will be long and bloody, but healthy. Faculty will have to increase their shrunken teaching loads, campuses stop the arms-race of physical plant, administrative bloat slashed, useless majors dropped, the party atmosphere curbed, and political correctness challenged, just for starters. Its a good thing.

[EconProf]

There are some erie parallels between the housing bubble and the college bubble. While the housing bubble peaked about 5 years ago, the college bubble is showing signs of peaking now.
An unholy alliance of college administrators, faculty unions, a loan-happy federal government, and anxious parents have combined to push up college costs beyond reason, created an excess of college grads with silly degrees, and an army of embittered debt slaves now realizing they’ve been duped.
The denoument of this play will be long and bloody, but healthy. Faculty will have to increase their shrunken teaching loads, campuses stop the arms-race of physical plant, administrative bloat slashed, useless majors dropped, the party atmosphere curbed, and political correctness challenged, just for starters. Its a good thing.

[EconProf]

There are some erie parallels between the housing bubble and the college bubble. While the housing bubble peaked about 5 years ago, the college bubble is showing signs of peaking now.
An unholy alliance of college administrators, faculty unions, a loan-happy federal government, and anxious parents have combined to push up college costs beyond reason, created an excess of college grads with silly degrees, and an army of embittered debt slaves now realizing they’ve been duped.
The denoument of this play will be long and bloody, but healthy. Faculty will have to increase their shrunken teaching loads, campuses stop the arms-race of physical plant, administrative bloat slashed, useless majors dropped, the party atmosphere curbed, and political correctness challenged, just for starters. Its a good thing.

[EconProf]

There are some erie parallels between the housing bubble and the college bubble. While the housing bubble peaked about 5 years ago, the college bubble is showing signs of peaking now.
An unholy alliance of college administrators, faculty unions, a loan-happy federal government, and anxious parents have combined to push up college costs beyond reason, created an excess of college grads with silly degrees, and an army of embittered debt slaves now realizing they’ve been duped.
The denoument of this play will be long and bloody, but healthy. Faculty will have to increase their shrunken teaching loads, campuses stop the arms-race of physical plant, administrative bloat slashed, useless majors dropped, the party atmosphere curbed, and political correctness challenged, just for starters. Its a good thing.

[Scarlett]

Anybody thinks college will become less of a requirement for a decent job? Given that in 10 years from now not that many people would even get a college degree?

What about the idea that companies/employers offer college graduates a minimum pay AND assume the college debt – IF the graduate stays with them for X (5?10?) years. (equivalent of mortgage I suppose). Indentured servitude.

[Scarlett]

Anybody thinks college will become less of a requirement for a decent job? Given that in 10 years from now not that many people would even get a college degree?

What about the idea that companies/employers offer college graduates a minimum pay AND assume the college debt – IF the graduate stays with them for X (5?10?) years. (equivalent of mortgage I suppose). Indentured servitude.

[Scarlett]

Anybody thinks college will become less of a requirement for a decent job? Given that in 10 years from now not that many people would even get a college degree?

What about the idea that companies/employers offer college graduates a minimum pay AND assume the college debt – IF the graduate stays with them for X (5?10?) years. (equivalent of mortgage I suppose). Indentured servitude.

[Scarlett]

Anybody thinks college will become less of a requirement for a decent job? Given that in 10 years from now not that many people would even get a college degree?

What about the idea that companies/employers offer college graduates a minimum pay AND assume the college debt – IF the graduate stays with them for X (5?10?) years. (equivalent of mortgage I suppose). Indentured servitude.

[Author]

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