The Higher Education Bubble Has Popped, by Rikki Schlott

Covid-19 and remote learning at high-priced colleges may have been the last straw. Many prospective students and their parents are asking if they are going to get anything out of higher education remotely approaching its cost. From Rikki Schlott at The Epoch Times via zerohedge.com:

The higher education bubble has been rapidly inflating, threatening to pop at any moment. Over the past several decades, our culture has tipped the scales from praising and valuing education to downright socially mandating it. As a result, enrollment has skyrocketed to levels never before seen.

While broadening access to higher education is, of course, an ideal to strive for, we’re doing a cultural disservice to young generations by stigmatizing alternative options such as trade school. Increasingly, students feel as though they must get a degree to get a halfway decent job—or even just for the sake of social acceptance.

As a result, more and more students are phoning it in with degrees in increasingly bizarre and niche fields. These curricula equip them with a handle on abstract theory rather than tangible professional skills. After all, how many scholars of gender studies are actually sustaining themselves outside of the higher-ed bubble?

The status quo, which posits that a college degree is a de facto necessity, has enabled the higher education bubble to inflate … and inflate … and inflate even more.

In the past 20 years, tuition at private universities has jumped by 144 percent, out-of-state public tuition by 165 percent, and in-state public costs by 212 percent.

That is until the COVID-19 pandemic took the world by surprise—and especially blindsided the higher education establishment.

Suddenly, students were forced to attend Zoom University from home, and many schools were so out of touch that they charged their pupils full tuition for remote learning.

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