Posted by: crudbasher | August 2, 2010

Book review: Higher Education? – WSJ.com

This is a review of a book in the Wall Street Journal called Higher Education?

I need to read this book.  I am becoming more and more convinced that there is a bubble in higher education and the price being charged is not worth the return.  As more high school grads realize this, I think the bubble will pop and there will be much wailing and knashing of teeth in the higher education field. This isn’t about education anymore, its about economics.

Interestingly enough there will be some universities that will do quite well when the bubble bursts. (hint, most don’t have football teams)

  • Fascinating book review. Higher ed bubble

    tags: education highered book review bubble

    • Higher education may be heading for a reckoning.
    • a new public skepticism has surfaced, with galling facts to back it up. Over the past 30 years, the average cost of college tuition and fees has risen 250% for private schools and nearly 300% for public schools (in constant dollars). The salaries of professors have also risen much faster than those of other occupations. At Stanford, to take but one example, the salaries of full professors have leapt 58% in constant dollars since the mid-1980s. College presidents do even better. From 1992 to 2008, NYU’s presidential salary climbed to $1.27 million from $443,000. By 2008, a dozen presidents had passed the million-dollar mark.
    • Meanwhile, tenured and tenure-track professors spend ever less time with students. In 1975, 43% of college teachers were classified as “contingent”—that is, they were temporary instructors and graduate students; today that rate is 70%. Colleges boast of high faculty-to-student ratios, but in practice most courses have a part-timer at the podium.
    • the administrator-to-student ratio is growing. In fact, it has doubled since 1976.
    • In “Higher Education?” Andrew Hacker and Claudia Dreifus describe such conditions in vivid detail. They offer statistics, anecdotes and first-person accounts— concerning tuition, tenure and teaching loads, among much else—to draw up a powerful, if rambling, indictment of academic careerism.
    • With the economy tightening and tales of graduates stuck in low-paying jobs with $50,000 in student loans, college doesn’t look like an automatic bargain.
    • “We think a low cost should be a major determinant in any college decision,” the authors wisely conclude, for “a debt-free beginning is worth far more than a name-brand imprimatur.”

Posted from Diigo. The rest of my favorite links are here.

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Responses

  1. […] Book review: Higher Education? – WSJ.com « Education Stormfront […]


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