The Economics of Going to College
Every week there is news of a small college closing or merging. Like churches, the survival of small colleges is swimming upstream. Change is not working in favor of either higher education or churches. The economics of both is flawed. I've discussed here often the economics of churches. Those in the pews who supply the money to run the place need to feel they get something worth as much or more than what the pay. The faith, in my opinion has over promised what donors get for their money--the gods and the "guaranteed" afterlife is now viewed with skepticism. Fewer children per family has hurt also but a good product should sell anyway, and it is not. Something similar has happened in colleges (I'm using the word colleges instead of universities, it's easier to type). I'm not a scholar who studies or publishes about higher education but it's been close to me all my life. I've lived on or next to a campus for 60 years of my life. When I was a professor ...