Almost half of Universities may be gone in 5 to 10 years, professor admits

 

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Scott Galloway, lecturer in Marketing at New York University, speaking at the DLD (Digital-Life-Design) conference in Munich, Germany, 18 January 2016.

An NYU professor of business surmises that because of the effects of the coronavirus, anywhere from one-quarter to almost one-half of universities in the nation may go out of business in the next five to ten years. NYU professor Scott Galloway also admitted that foreign students paying full tuition are the “cash cow” for universities and “might decide not to show up.” He commented, “What department stores were to retail, tier-two higher tuition universities are about to become to education and that is they are soon going to become the walking dead.”

Speaking with Hari Sreenivasanon on PBS’ “Amanpour and Co.,” Galloway spoke of the impact of the coronavirus on colleges and universities, forcing them to hold their classes over the internet, and how that may catalyze flight from the universities and the universities’ subsequent downfall. Galloway stated, “Students I think across America along with their families listening in on these Zoom classes are all beginning to wonder what kind of value, or lack thereof, they’re getting for their tuition dollars … There’s generally a recognition or disappointment across America, and I would argue that it’s not that they’re disappointed in the Zoom classes, it’s more the recognition that Zoom has uncovered how disappointing college education is. I think there’s a lot of households saying, ‘This is what we’re paying for?’”

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Financial hits pile up for colleges as some fight to survive

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Colleges across the nation are scrambling to close deep budget holes and some have been pushed to the brink of collapse after the coronavirus outbreak triggered financial losses that could total more than $100 million at some institutions.

Scores of colleges say they’re taking heavy hits as they refund money to students for housing, dining and parking after campuses closed last month. Many schools are losing millions more in ticket sales after athletic seasons were cut short, and some say huge shares of their reserves have been wiped out amid wild swings in the stock market.

Yet college leaders say that’s only the start of their troubles: Even if campuses reopen this fall, many worry large numbers of students won’t return. There’s widespread fear that an economic downturn will leave many Americans unable to afford tuition, and universities are forecasting steep drop-offs among international students who may think twice about studying abroad so soon after a pandemic.

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The 5 college majors American students most regret picking

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Obtaining an undergraduate degree is almost always worth it — bachelor’s degree holders earn 84% more than those with just a high school diploma.

However, not all majors are the same, ZipRecruiter found.

As tuition costs soar, more students and their families are asking themselves if college is still worth it.

Some experts say the value of a bachelor’s degree is fading. Starting salaries for new college graduates have grown less than 1% over the past two years, remaining at around $50,000.

Worse yet: A decade after leaving school, more than 1 in 5 graduates are working in a job that doesn’t even require a degree.

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Millions of college students are so terrified of loans they’re turning to ‘Sugar Daddies’ for help paying for school

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A growing number of students are turning to dating sites to find Sugar Daddies and Mommas for help with college costs. Christina, a 29-year-old Sugar Baby and MBA student living in Las Vegas, talked to Business Insider about her experience. She’s received over $90,000 for education-related costs, but says the stigma is the hardest part about being a Sugar Baby.

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You can go to college in Germany for free no matter where you are from

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Germany didn’t just abolish tuition for Germans, the ban goes for international students, too.

Lower Saxony has made itself the final state in Germany to do away with any public university tuition whatsoever. As of now, all state-run universities in the Federal Republic—legendary institutions that put the Bildung in Bildungsroman, like the Universität Heidelberg, the Universität München, or the Humboldt-Universität zu Berlin—cost exactly nothing.

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The ‘impossible’ $10K degree marches on in Texas

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Governor Perry wants public universities to craft four-year degrees costing no more than $10,000 in tuition, fees, and books.

Bill Ayers did not have in mind any endeavors of conservative Texas governor Rick Perry when he observed that “every revolution is impossible until it happens, and then, looking backwards, every revolution appears inevitable.” But Perry may have launched a revolution of his own with his 2011 state of the state address. Perry challenged Texas’s public universities to craft four-year degrees costing no more than $10,000 in tuition, fees, and books, and to achieve the necessary cost reductions by teaching students online and awarding degrees based on competency.

 

 

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Harvard professor Clayton Christensen predicts half of U.S. colleges to fail in next 15 years

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Dowling College main administrative and faculty offices building.

On Long Island, New York’s south shore on the Dowling College campus, a fleet of unused shuttle buses sits in an otherwise empty parking lot. A dormitory is shuttered, as are a cafeteria, bookstore and some classrooms in the main academic building.

 

 

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The Sorry State of Higher Education

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It’s dismaying how easy it is to screw up college.

I don’t know exactly when, why, or how it happened, but important things are breaking down in the US higher education system. Whether or not this system is in danger of collapsing it feels like it’s losing its way, and failing in its mission of developing the citizens and workers we need in the 21st century.

This mission clearly includes getting students to graduate, yet only a bit more than half of all US students enrolled in four-year colleges and universities complete their degrees within six years, and only 29% who start two year degrees finish them within three years. America is last in graduation rate among 18 countries assessed in 2010 by the OECD. Things used to be better; in the late 1960s, nearly half of all college students got done in four years.

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The high price of tuition-free college in Sweden

 Swedish college students still graduate with a ton of debt.

Colleges and universities in Sweden are free. But students there still end up with a lot of debt. The average at the beginning of 2013 was roughly 124,000 Swedish krona ($19,000). Sure, the average US student was carrying about 30% more, at $24,800.

 

 

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Will your college still be in business by the time you want to graduate?

The question for the class of 2014 is what is your college plan and what is the likelihood that your college or university you attend will still be in business by the time you want to graduate.

A lot of High School kids ask whether or not they should go to college. The answer is yes.  You find out about yourself when you go to college.  You learn how to learn.  You are exposed to new ideas.  If you are into business that is where you learn the languages of business, accounting, finance, marketing and sales in college.

 

 

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