The traditional higher education is becoming more and more a scam. Federal government is backing almost all the student loans, but universities automatically increase their tuitions. The student loan crisis is a clear indication that this model is not working. For the past 20 years, in-state public university tuitions have increased more than 200% [1]. Now the total student loans count to approximately $1.6 trillion [2].
In the past, America had a tradition of wealthy people create new universities. Now we only have the rich donating to established universities, but no longer building new ones. Elite universities are all about powers, instead of educating more people, that's why they don't make efforts to expand their campus or create new campuses. Ever heard Harvard build a new campus in a different city? Or Yale acquire an not so successful private university to level to it up so that their success can spread out and more students can be benefit? No.
I cherish people who want to build a new model for higher / technical education. And wish them the best luck. There certainly will be trails and errors. And I hope them can power through.
The traditional higher education is becoming more and more a scam. Federal government is backing almost all the student loans, but universities automatically increase their tuitions. The student loan crisis is a clear indication that this model is not working. For the past 20 years, in-state public university tuitions have increased more than 200% [1]. Now the total student loans count to approximately $1.6 trillion [2].
In the past, America had a tradition of wealthy people create new universities. Now we only have the rich donating to established universities, but no longer building new ones. Elite universities are all about powers, instead of educating more people, that's why they don't make efforts to expand their campus or create new campuses. Ever heard Harvard build a new campus in a different city? Or Yale acquire an not so successful private university to level to it up so that their success can spread out and more students can be benefit? No.
I cherish people who want to build a new model for higher / technical education. And wish them the best luck. There certainly will be trails and errors. And I hope them can power through.
1. https://www.usnews.com/education/best-colleges/paying-for-co...
2. https://www.investopedia.com/articles/personal-finance/08121...