Think that money is going into classroom instruction? Better think again.
According to a report from the National Center for Policy Analysis, the largest increase between 2000 and 2012 has been "staff" (that is, administrative and professional workers)...an astounding 28% increase! Between 1987 and 2012, those institutions have hired an additional 87 administrative and professional workers every day! Consider what that means in terms of increased salaries, benefits, and pensions. And that doesn't include all of the $$$s that are being spent to turn campuses nationwide into veritable Disneylands!
The report notes that this increase in administrative spending has forced institutions to cut the cost of instruction by hiring increasing numbers of part-time faculty. In fact, 50% of college and university faculty in 2012 were adjunct professors. So much for quality, as adjuncts oftentimes have other jobs and much less time for their students as well as to prepare for class.
Is a college education really worth what it costs today?
Perhaps not. An article in Real Clear Education article argues that the importance of college has been overblown and college degrees have lost their value:
- 44% of 2012 college graduates took jobs that did not require the degrees earned.
- 33% of bachelor's degree-holders are underemployed, that is, meaning that their jobs are not commensurate with their skills or qualifications.
- Of the top 30 jobs that are expected to have the highest levels of job growth by 2022, only 5 require a bachelor's degree. Only 10 require some type of postsecondary education.
Graduate from college with an average debt of ~$30k and be underemployed or unemployed?
Might be time for many young people to reconsider higher education.
Let the discussion begin...
To read the article in Real Clear Education, click on the following link:
"College for All Would Set Many Up for Trouble."
To read the National Center for Policy Analysis report, click on the following link: "The Higher Education Bubble."