#HigherEdCrisis: Ever wondered what could possibly go down if college tuition fees go through the roof, leaving most students high and dry? 🤔 I’m curious about the domino effect this could have on our society, economy, and future. With the average college tuition skyrocketing by [insert data], it’s no wonder that students are feeling the financial squeeze. Will we see a rise in student loan debt? A decrease in enrollment rates? Or a shift towards alternative education paths? Let’s dive into this together and explore what the future could hold if we don’t address this issue. Share your thoughts below! 👇🎓💸 #CollegeTuitionCrisis #StudentDebt #FutureOfEducation
It already is
Then the government will raise the student loan caps so you can go into even more debt. Until they raise the prices again… ad nauseum.
Growing up in the 90s / 00s kids were told you NEED a college degree to make anything of yourself. I remember $1million more earnings over a lifetime mentioned many times. A few things happened that made that not quite pan out.
Jobs increasingly require a degree for non-degree work. The value of your degree dropped for most non-speciality fields.
Governments increasingly pulled back funding and removed safeguards on student loans that left a lot of us in debt we’ll never be able to pay back (have already paid the principal on my loans 2x over)
We had huge recessions and a pandemic that kept a lot of people in the workforce longer than expected.
All of that to say, advice I’d give kids today would be to look at trade school or a two year degree before committing to a lifetime of debt. I imagine that will be a very common sentiment though, so kids may see a job market that once again highly values education due to a shortfall of college grads.Â
We prepare our children for life based on experience from a world that no longer exists.Â
Yes, it’s already happening. Its not unaffordable, you can get student loans. The problem is that it is becoming common knowledge that getting a college degree may not get you any job, much less a “good” paying job. This means students are waking up to the realization that if they take out student loans, they may never be able to pay them off, and they will still be unemployed.
Many are opting out.
Then market forces will prevail: colleges will lower prices, and improve service. None of this will happen as long as the government is in the middle of it giving the colleges almost unlimited ability to raise prices.
They take out massive student loans that there is little hope of being able to repay.
Right now, the median increase in lifetime salary for a man in the US with a bachelor’s degree is 900k. For a woman its 630k. So until the college tuitions creeps to those levels, I think nothing is going to change.
Can’t happen
College is a business. They can’t raise prices enough that people can’t go
PhD student here fwiw. It’s already happening quietly across the country but small colleges are closing much quicker than you’d expect. Students who can afford college are going to the larger, more reputable universities, and small schools aren’t getting the butts in seats leading to their funding getting pulled and they eventually close. Heck, three in my area alone shut down in a span of 12 months. The better funded schools will choke out the smaller ones and the quality of the courses will continue to plummet because professors are already having to teach down to the the capabilities of incoming students; which is notably declining much faster since COVID.
Speaking from personal experience, we’d probably have to protect FAFSA and perhaps expand its parameters. Going to a community college w then a state college with financial aid netted me little to no debt and a useful stipend in addition to academic scholarships.
It will widen the gaps between haves and have nots by gate keeping jobs with degrees
It shot past that decades ago. That’s why you have to go to the federal government to get gargantuan loans to pay for them.
Nothing the Biden admin will just tell them they will write it off .
Then they will have all these students thinking yeah cool .but they won’t do a dam thing about it until an election year so they can buy a V O T E like they did this year .
When? It’s already making college not an option for people. Or they come out with massive debt and are financially enslaved.
It always has been….? Next question.
Why are the loans being forgiven instead of reformed? The government just continues making millions of predatory loans and allowing private loans that are atrocious. Why isn’t the government fixing this mess?
We reach a stalemate.
degrees will become uncommon, as before. jobs will stop wanting a degree for every damn thing.
LOL, AI is here. Most college degrees are going to be worthless unless they involve some sort of manual labor or the education system SOMEHOW adapts to thenall knowing AI (which is rapidly growing and integrating into american sociaety). Hands on work is going to be more valuable than ever in the current shift, but that’s just my 2 cents.
Isn’t it already? My financial life has been ruined and I am handcuffed to student loan debt to the point that even as a manager in a major organization I skip meals so I can live independently.
Those large universities will collapse.
It is. The government will keep loaning out higher and higher sums to confused 18 year olds. Debt will increase. Most people who own sports cars can’t afford them either, but the government wants it to happen so it makes it happen.
Sticker price tuition isn’t a great measure of what people are actually paying. Colleges will likely continue to have high sticker prices and a labyrinth of financial aid to make it impossible to know how much it will really cost until you’re already in.
The cost will go up to compensate for this the missing students then average pay will go down for the same amount of work for most people without a degree.
Less people go to college. Americans become less competitive globally. Then US hires more immigrants…then they tuk our jawbs.