<p>As you've all probably heard, the US economy has seen better days. MUCH much better days. The other day I was speaking to one of my teachers who has years of experience with the college admissions process as well as being highly knowledgeable in the field of economics.</p>
<p>Basically what he told me was this: the US economy will suffer the worst economic recession since the Great Depression. Don't apply to any US colleges. To be honest, I'm starting to believe him.</p>
<p>I've had my heart set out the last five years on attending a US college and would love to spend the rest of my life in the US. However, with an unforeseeable future, is it still economically sound to pay $200,000 for an American degree? Is American higher education at risk in the future? What about America itself? What would happen if things were to get worse and worse and stay like that for many years?</p>
<p>My dad has advised me to not apply to an American schools and search instead for those in the UK. However, I really hope it doesn't have to come down to this.</p>
<p>So, I'm asking, IS IT still a wise decision to study in the US? Do you think a recession will affect your college plans? Frankly, I just don't know anymore.</p>
<p>Well, a recession in the US would probably be exacerbated by a plummet in the value of the American dollar due to all the debt we (Americans) have accrued. Consequently, it would be better to attend an American college during an economic downturn since it would be relatively cheaper. Also, the quality of the education shouldn't be too adversely affected by such an event, as endowments provide an excellent cushion. However, staying in the US itself would most likely be unwise; there is no light at the end of the tunnel for the US, at least not for several decades. Indeed, I'm in the opposite position as you; although I currently reside in the US, I'd like to attend university in the UK and possibly remain there after obtaining my degree. Of course, the situation in the UK isn't much better than that in the US.</p>
<p>Yea, I was thinking that the positive would be that it's now much cheaper compared to Europe (which is where I am right now). However, in the long run, I'm still skeptical.</p>
<p>In the long run, it would only be worthwhile if you intend to leave after obtaining your degree (but even then, college is 4 years in the US as opposed to 3 in the UK, so that's an extra $50,000 down the hole).</p>
<p>It's more expensive to study in the UK now than in the US, thanks to the weaker greenback.</p>
<p>Besides, what do you think will happen to the British/EU economy when US goes into a recession? Get the best college education you can and the rest will take care of itself.</p>
<p>Actually, it's still cheaper in the UK (although that might not be true in the future). Generally, a UK education might run at 10,000 pounds for a British citizen, which is approximately 20,000 dollars. That's far cheaper than what one would expect at an American university, since higher education is not subsidized here. Also, many developed countries will enter a recession shortly (if they are not already in one); however, the US will suffer the most because it has taken on the greatest amount of debt.</p>
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Generally, a UK education might run at 10,000 pounds for a British citizen, which is approximately 20,000 dollars. That's far cheaper than what one would expect at an American university, since higher education is not subsidized here.
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Well, in-state tuition for most US public universities is under US$10,000 a year if you wanna compare apple-to-apple (since most British universities are public). For example, in-state tuition for the University of Washington is around $6,000 a year.</p>
<p>The OP is probably not qualified to pay UK tuition as a British subject (I think you need to do your upper-level in the UK to enjoy that benefit even if you are an EU citizen). What is the cost of a UK college education for a foreigner?</p>
<p>I think the question is how the state of the US economy will affect the quality of education, or even its prestige. Although cost of education is also important, I think the OP is more concern with the former.</p>
<p>The US has seen long recessions before, like in the aftermath of 911, or in the early 1980s and 1990s. What do you think happened to the universities druing those times, in terms of quality or prestige?</p>
<p>The elite universities in the US have much larger endowments than their counterparts in the UK and thus can survive much better during hard times.</p>
<p>not a problem for me because I am from a developing country- we would probably not follow the trend of the developed world- a recession- because the economic dynamics dont apply to us. Well except for decreased demand from industrialised nations.</p>
<p>I don't think the recession impacts the quality of education at all, especially at private universities with huge endowments. As for prestige, it doesn't vanish with a recession - top universities like Harvard, Princeton or Yale remain top universities regardless of the recession, the quality of teaching/students remains the same, the endowments stay the same. And since the U.S dollar is worth less, it makes it slightly less expensive for international students.</p>