Dauric -> RE: "College cost crunch felt worldwide, not just in U.S." (5/11/2007 9:46:41 PM)
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I'm actually of a somewhat different mind about college finance reform. Any busines needs to adjust to the market around it. A successful automaker will manufacture cars that are in demand. Gas prices are high, they move to producing smaller more fuel-efficient vehicles, gas prices drop, they start building gigantic urban-tanks that can take an impact at reentry velocities without jostling the drink in the cup holder. If the automaker makes too many of a type of vehicle for the demand, it has to reduce the price to meet the demand-curve. Likewise when there's not enough hybrid-vehicles in a gas-crunch, the price of a hybrid goes up. For the sake of argument, let's view a college as a factory of a sort, it produces a 'Specalist'. Someone educated in a aspecific field of knowledge. Under the current system, regardless of the marketplace's needs, the cost for an education bears little or no resemblance to the actual marketability of those skills. Now, What If: When various studies that allready take place show that there's a deficiency of engineers and that engineering students will get good paying jobs, those degrees went up in price in relation to a degree where there is a glut of them on the market, like web designers [8|]. Colleges would be encouraged to market degrees that actually stood a chance of being relevant to getting a better career, rather than selling people on a degree that isn't useful enough to get a decent job in their field, but overqualifies them for menial or secretarial jobs (been there, done that...). Keep the other degrees available, then cheap low-career-demand degrees would be affordable to people who just wanted to know how to do something as a passion (cheap web-design degrees would let people have their own personal web pages, for business or just because, that didn't look like crap). On top of that, marketplace pricing for a degree would lessen the burden on those who were less likely to get a good paying job, and place it on those who, by the very nature of the market, could afford to pay the loans back. It's a dreamer's what if. I'm sure that there's issues with it, but any idea has to start somewhere. Just my own $0.02, Dauric.
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