Tuesday, September 22, 2009

Higher Education under siege

Public Higher education is under siege. Just as private colleges and universities have had to deal with their shrinking endowment, public universities now have to face their grim reality. Two corollary views of where all this might be going. First, a group of bloggers from the World Bank looks at the financial crises facing public universities. Money quote:

With policies of limiting enrollment places and tuition fees, market pressure to add capacity, and government funding unlikely to increase, Moody’s expects unprecedented pressure on the current financial model of public universities.
On the other side an Internet entrepreneur named Burck Smith is tying to use the creative destruction of the Internet to bring the cost of college down to $99 per month. It's an amazing plan with profound implications if it could work.