A screaming comes across the sky.
It has happened before, but there is nothing to compare it to now.Pynchon - Gravity's Rainbow
1. On the general point that the costs for a marketing degree at Ohio Northern make it a low value-added proposition in this case, we agree.
2. There is insufficient credible information on costs/benefits of specific degrees from specific schools, though more information is becoming available. I don't think Ms. Griffith had access to that kind of information.
3. The recent recession has led to structural changes that have altered the value proposition of degrees. Even MBAs from top schools have depreciated rather significantly in value on account of structural changes that have led, among other things, to the financial sector comprising a much smaller share of the economy than it did in the run-up of the housing bubble. Lower demand relative to supply have put firms into a price maker role that they did not enjoy during the credit boom, runup in the housing bubble.
4. The ongoing evolution of the U.S. economy and structural driving forces (trade and the technology and information revolutions) are leading to some significant mismatches between areas of study and employment prospects. The changes are occurring more rapidly than they had in the past.
5. Specialization is continuing to grow relative to generalization. From mid-level management and down, that trend is particularly significant, as it allows companies to become more efficient and differentiated. More jobs are being created with a degree of specialization. However, from an upper management standpoint, there are tradeoffs. The increased specialization is leading to greater difficulty in finding candidates for senior positions who have the capability of understanding the big picture, aligning the organization as a whole, etc. In a dynamic global environment, lack of ability to understand the environment in which a company operates can be lethal when it comes to preserving or advancing a company's competitive advantages.
In sum, one should be concerned with the plight many students are facing, especially if that trend leads to the current relative decline in educational attainment giving way to an absolute decline. College degrees are increasingly the minimal starting point for productive workers and holders of such degrees, once they gain positions, enjoy greater job stability and higher incomes than those who lack such degrees. The broad shift toward knowledge-intensive work is making such degrees necessary except for a small range of fields. With the gradual retirement of the Baby Boom generation underway, firms will be confronted with the challenge of filling essential positions. A lack of sufficientldomestic talent will compel firms to look abroad where eductional attainment is rising. One might argue that firms should focus on training, but in many cases, firms lack the luxury of time to develop such employees and teaching the kind of skills provided by a college education is not possible in a one-to-two week training session. In the end, a society that cannot educate its youth is also a society that cedes opportunity and progress to those that succeed in educating their youth.
On the point of self-teaching, I agree with you. Any reasonably intelligent and highly-motivated person can advance his/her knowledge in the fashion you describe. Unfortunately, an inadequate number of people are motivated to the extent that such an approach is viable to the point where firms would look less to a college degree.
Nearby college has a surplus outlet, and the amount of computer stuff going out the door is incredible.
MOST of those computers are newer than the one I am using now. They replaced all their CRT monitors with flat screens because they could. Most of us waited til our CRT monitors failed, or at least until the flat screen prices went down.
Their purchasing agents will buy hundreds of small items to get a price break, even tho they don't NEED hundreds of the items. Those new, unopened boxes of various items end up in surplus.
At the same time, they store old crap in warehouses because they have so much of it, and don't know what has value and what is scrap metal, ending up with silly prices too high on some stuff, and rediculously low prices on other items. The good stuff moves, the scrap sits there for months and months.
I mean, really, a dozen or more transparency overhead projectors? the old clunkers, from the 60's....
At the same time, high quality video projectors for a few hundred dollars that not so long ago cost many thousands...
I love the place, it is like a candy store to me....
Oracle of Utah
Truth rings hollow in empty heads.
I do not believe that tuition would go down if government-subsidized student loans were to disappear. The horse has already left the barn, so to speak. I do believe, however, that tuition has risen as high and as fast as it has in large part because student loans became too easy to get.
If, when defending your support for Donald Trump, and your response is,
"But but but... HILLARY!!!", then you lost the argument before you even began.
I for one can attest that College has ruined my life...
Perhaps another part of the problem is supply and demand in a global society. When talking about our best universities there is worldwide competition for spots regardless of cost it seems. So a school that charges nearly 60K for tuition room and board still gets to reject 90+% of applicants.
On the other end of the spectrum, what happened to free or very inexpensive state and city universities. NYC once had a great university system that I think was a key reason for the city's greatness.