Saturday, June 06, 2009

Bursting the Higher Education Bubble

"Will Higher Education Be the Next Bubble to Burst?" - The Chronicle of Higher Education:

Consumers who have questioned whether it is worth spending $1,000 a square foot for a home are now asking whether it is worth spending $1,000 a week to send their kids to college. There is a growing sense among the public that higher education might be overpriced and under-delivering.

And here's a new idea -- year-round college:

Two former college presidents, Charles Karelis of Colgate University and Stephen J. Trachtenberg of George Washington University, recently argued for the year-round university, noting that the two-semester format now in vogue places students in classrooms barely 60 percent of the year, or 30 weeks out of 52. They propose a 15-percent increase in productivity without adding buildings if students agree to study one summer and spend one semester abroad or in another site, like Washington or New York. Such a model may command attention if more education is offered without more tuition.

Brigham Young University-Idaho charges only $3,000 in tuition a year, and $6,000 for room and board. Classes are held for three semesters, each 14 weeks, for 42 weeks a year. Faculty members teach three full semesters, which has helped to increase capacity from 25,000 students over two semesters to close to 38,000 over three, with everyone taking one month (August) off. The president, Kim B. Clark, is a former dean of the Harvard Business School and an authority on using technology to achieve efficiencies. By 2012 the university also plans to increase its online offerings to 20 percent of all courses, with 120 online courses that students can take to enrich or accelerate degree completion.

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