Thursday, November 4, 2010

The Coming College Bubble

Presidents and politicians have promised for years to provide college for everyone and have measured success by the percentage of students enrolled.

But it's becoming clear that college doesn't make sense for everyone. Some students simply lack the necessary competence, including the ability to carry on fluent conversation. Nor do they have the basic math.

Many others would prefer non-college careers in industry. And are considering whether the expensive conventional college model is worth the heavy investment.

A century ago, only about 2 percent of American adults graduated from college; college education expanded when the G.I. Bill financed veterans after World War II. College attendance expanded further postwar and Government student loans have enabled colleges to grow even faster over the last three decades.

This growth has been great for the schools but the product has simultaneously suffered. America leads the world in mass education, not better education.

Unfortunately, a bubble is ahead and the result will not be pretty to observe.

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