« on: August 26, 2015, 01:46:22 pm »
With that being said I wonder if people will eventually gravitate more towards public schools? Just because getting in debt via a private school education won't get you any further in life than if you attended a public school for a 1/3 of the cost. My wife and I both attended UWW, and both are doing well for ourselves. I'm not sure how much more my live would be better if I attended Carroll or Carthage college.
How much more can they gravitate toward public schools? There are almost 14 million kids in public universities right now as opposed to only 2.75 million in private non-profits There are another 1.75 million in private for profit schools, but that's where I find the real rip off to be and those numbers have dipped dramatically recently after increasing exponentially until about 2010. Public university enrollment is up 40% since about 2000, private non profit about 10-15% over the same period.
Costs (as a percentage of previous costs) for public universities are increasing faster than costs at private non-profits since the recession started in 2008. So while the absolute costs of the private non-profits are still going up faster starting from a much higher base, it's not by much anymore. Most projections have it flipping over soon and year over year increases will be greater at public than private non-profits as we continue to defund the public universities with public funds.
I think the entire scheme of higher education is going to change over the next 20 years, so I wonder in 100 years how many of these fine old institutions will still be standing in their current boarding school format. I'm thinking not many, as these schools with minimal endowment and no public support are going to be too expensive and provide too little benefit to survive and transition to a new model.