Saturday, May 19, 2012

Mark Cuban - The Coming Meltdown in College Education & Why The Economy Won’t Get Better Any Time Soon

Right now there is a never ending supply of buyers. Students who can’t get jobs or who think that by going to college they enhance their chances to get a job. Its the collegiate equivalent of flipping houses. You borrow as much money as you can for the best school you can get into and afford and then you “flip” that education for the great job you are going to get when you graduate.
Except those great jobs aren’t always there. I don’t think any college kid took on tens of thousands of dollars in debt with the expectation they would get a job working for minimum wage against tips.
At some point potential students will realize that they can’t flip their student loans for a job in 4 years. In fact they will realize that college may be the option for fun and entertainment, but not for education. Prices for traditional higher education will skyrocket so high over the next several years that potential students will start to make their way to non accredited institutions.
While colleges and universities are building new buildings for the english , social sciences and business schools, new high end, un-accredited , BRANDED schools are popping up that will offer better educations for far, far less and create better job opportunities.
As an employer I want the best prepared and qualified employees. I could care less if the source of their education was accredited by a bunch of old men and women who think they know what is best for the world. I want people who can do the job. I want the best and brightest. Not a piece of paper.
Read it at blog maverick
The Coming Meltdown in College Education & Why The Economy Won’t Get Better Any Time Soon
By Mark Cuban
(h/t Abnormal Returns)

In A Free Market in Education I previously highlighted some of these opportunities for non-traditional education. An important source often forgotten in these discussions is the role of blogs. A majority of the blogs I follow and link to on this site represent university professors of economics and related subjects. These blogs have been and continue to be an immensely powerful resource for my personal education. Hopefully this blog will be a non-traditional educational source for many others in the years to come as I pursue my own goal of becoming an economics professor. 

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