Posts tagged with: student loan debt

Blog author: dpahman
posted by on Tuesday, July 31, 2012

In addition to my post yesterday and other education related posts on the Powerblog (here, here, here, here, and here), I highly recommend this analysis of the higher ed bubble from educationviews.org if anyone is interested in learning more.

I would emphasize that this is not simply an economic problem but a moral one. We cannot in good conscience continue to promote higher education to our youth while its quality continues to diminish and its price continues to rise. To do so is to fail to fulfill our moral duty to leave an inheritance to the next generation from the good that previous generations have passed on to us. The bar needs to be raised as a matter of human dignity. On the whole, people will rise (or fall) to the level of the expectations that we have for them. The level of expectations placed upon a person sends a message about their perceived ability and value. In addition, needless spending needs to be cut, and our government and banks need to stop handing out loans like candy to pursue degrees that will not realistically secure the income needed to pay them back. This is a present moral failing that is leading us to a future economic collapse.

From the article:

As George Will describes it, the bubble is what happens “when parents and the children they send to college are paying rapidly rising prices for something of declining quality.” The point at which parents cease to be willing to pay those rising prices is when the bubble bursts. When that happens, the financial assumptions on which American higher education has been based for many decades will come crashing down.

There are, however, two highly unpredictable elements in the current situation. One is the willingness of the Obama administration to sustain the bubble by encouraging more and more students to attend college and by using student loans to support this expansion. The other is the bubble-deflating power of online education.

Read more . . .

Blog author: dpahman
posted by on Thursday, June 21, 2012

ABC’s Chancellors for Equity and Inclusion, 1985-1988
Source: http://www.imdb.com/title/tt0088885/

I have recently written on the moral implications of growing tuition costs and the resulting student loan debt (here). One factor I did not explore in depth was the reason for rising tuition costs, which, adjusted for inflation, have more than doubled since the 1980s. No doubt, there are many factors that have contributed to this, but George F. Will of the Boston Herald points to one possible cause: bureaucratic sprawl under the auspices of promoting diversity. Despite rising costs for students, Will writes,

UCSD found money to create a Vice Chancellorship for Equity, Diversity and Inclusion. UC Davis has a Diversity Trainers Institute under an Administrator of Diversity Education, who presumably coordinates with the Cross-Cultural Center. It also has: a Lesbian, Gay, Bisexual, Transgender Resource Center; a Sexual Harassment Education Program; a Diversity Program Coordinator; an Early Resolution Discrimination Coordinator; and Cross-Cultural Competency Certificates in “Understanding Diversity and Social Justice.” California’s budget crisis has not prevented UC San Francisco from creating a new Vice Chancellor for Diversity and Outreach to supplement UCSF’s Office of Affirmative Action, Equal Opportunity and Diversity, and the Diversity Learning Center (which teaches how to become “a Diversity Change Agent”), and the Center for LGBT Health and Equity, and the Office of Sexual Harassment Prevention & Resolution, and the Chancellor’s Advisory Committees on Diversity, and on Gay, Lesbian, Bisexual and Transgender Issues, and on the Status of Women.

Personally, I think that fair treatment of all and appreciation of cultural heritage is a good thing, but do we really need more and more administrators to ensure it? Indeed, Will notes, “In 2009 the base salary of UC Berkeley’s Vice Chancellor for Equity and Inclusion was $194,000, almost four times that of starting assistant professors. And by 2006, academic administrators outnumbered faculty.” Surely there must be a more efficient (not to mention ethical) way. (more…)