Higher Education has not had good control of its pricing for a very long time – making college less affordable for many families.
The rising prices have required many families to borrow – student loan growth has outpaced all kinds of consumer lending. Those obligations have generated defaults of huge proportions based on the size of the loans and the employability of many graduates.
Higher education was once among the most trusted institutions in society – no more. Pricing and concerns about programs have diminished that trust.
Added to this environment is a dip in high school enrollment – most pronounced in the East and Midwest – but a problem everywhere.
Were these the only issues facing the sector they might be manageable – but coupled with all of these are a series of new types of institutions and offerings that will challenge the traditional college or university.