Today we would like to pass along an article shared to use by Professor Gaetano DeLeonibus of the French Department.
On Dec 1, The Economist published an article on the declining economic value of higher education titled: “Higher Education: Not what it used to be” which can be read HERE. The article details how the American university system has changed and morphed over the last half-century, focusing closely on the economics of the university system and the financial value of a college degree. As a recent graduate myself, I found this article to be very informative and we at the World Languages Studio feel it worth passing on even though it does not focus on language education.
Tantalizing quotes to peak your interest:
“The cost of university per student has risen by almost five times the rate of inflation since 1983… making it less affordable and increasing the amount of debt a student must take on. … dept per student has doubled in the past 15 years.”
“At the same time, universities have been spending beyond their means.”
“Another issue is that the salary gap between those with only a high-school diploma and those with a university degree is created by the plummeting value of the diploma, rather than by soaring graduate salaries.”