I’ve posted a reflection on the future of higher education, with a particular emphasis on the Christian universities, over at the Touchstone Magazine Mere Comments blog. Catch it here.
Here’s a clip:
The economic downturn has had a substantial impact on colleges and universities.
The first shoe dropped when endowments everywhere took big hits from a rapidly falling market. When endowments go underwater, they produce no income and generally can’t be touched.
The other shoe will drop when we see how private colleges and universities do in terms of their student numbers for the fall. My casual conversations with peers indicates that the private schools are running behind in terms of student deposits. The buyers are not feeling flush.
The public universities, on the other hand, have their own problems. The ones that have endowments are down. They also rely on tax subsidies in a time when tax revenues are diminished. The trend of the last several years has been for states to offer less and less financial support. In-state tuition has risen substantially. Where they do not suffer is in terms of student numbers. They will be overwhelmed by bargain seekers in tough economic times. The question is whether they will have state funds to backfill the subsidized education they offer and how many they can admit. As it stands now, their facilities are often severely strained, teaching assistants do an awful lot of the instruction, and there are a large number of cattle call style courses.