"The coming disruption in colleges"

This is a really good interview in today’s NYMag:

"Q: When will there be a reckoning? It has to come before classes begin this fall.

A: Over the next six weeks, when we realize that the deposits and registrations for the fall are down 10 to 30 percent. The better universities are fine in the short term because they just fill spots from the waiting lists. The kid who was going to Boston College will now get into MIT. But if that snakes down the supply chain, and you start getting to universities that don’t have waiting lists, those are the ones that get hit."

https://nymag.com/intelligencer/2020/05/scott-galloway-future-of-college.html

This is the same link I posted in the Scott Galloway thread.

@PurpleTitan apologies…i didn’t connect it with that story until I went in there!

No worries.

I think this disruption will make many take a look at the model of college financing that is being used… how tuition can go up higher than the rate of inflation and that is unsustainable…what is being expected from middle class parents. If you are learning from home, why pay big bucks for a private school if you could go to a state or even community college?

It comes down to what people think that they are paying for (or is worth paying for):

A. Academic content: majors of interest offered, secondary admission to or progression requirements in majors, majors’ curricular organization and subfields, courses required and offered and how often, content and rigor of courses offered, external accreditation of major where applicable, alignment or curriculum to post-graduation goals when applicable.

B. The experience: distance versus commuter versus residential, class size and format, advising (for in-college matters and post-graduation goals), peer group (however defined – academically or socially) presence, career center, campus environment and location, religion, fraternities and sororities, etc…

C. Prestige: include related aspects such as (assumed) perception by employers and graduate or professional programs, and (perceived) usefulness of alumni networks.

Students and parents who are willing to pay a premium mostly for B may be most prone to wanting to choose instead the cheapest college that meets whatever their base requirements are for A (often not much beyond “does it have ____ major that the student can get into?”). On the other hand, some may be willing to pay more for what they see as superior A and/or C even if B is basically equalized across all colleges.

Why does the school the author uses as an example have to be my sons school?

I stopped reading the article about three-quarters through. I think that certification will mean something different at MIT than it will at Yale. Maybe, partnership with a tech company makes sense for MIT. But, if Yale and the rest of the ivies stand for anything it is as a bulwark against modernity. Sure, they’ll examine it; they’ll offer courses on it. But, their identity - and, therefore brand - lies squarely with Hume and Locke and the Scottish Enlightenment.

IMHO, if Yale ever feels the need to increase sales, they’ll do it by shortening the time necessary to earn the degree. It’s already technically feasible; all they have to do is push the idea at the appropriate time.

@3sonsmom BC? Mine, too. He was convinced that BC had prestige and academic prowess. Literally strongly encouraged to go there rather than an LAC bc of these reasons. Oh dear! Perhaps this is bc we live right outside Boston and BC is so well known and respected in this area. I have a hard time believing that BC will lose it’s name recognition etc at least in the Northeast.

@Charlie2772, BC will be fine in Boston.