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Friday, March 14, 2014

Whackademia Quote: Colleges and Universities Are Pricing Themselves Out of Business

     ….Harvard University business professor Clayton Christensen…predicts that half of all universities will be bankrupt in 15 years….Colleges and universities haven't done themselves any favors by allowing costs to skyrocket. Between 1970 and 2010, U.S. median family income grew 22 percent….During the same period, the cost of a degree at a four-year school rose nearly 200 percent, and at private four-year schools, prices climbed almost 150 percent….

     Student loan debt topped $1 trillion in 2012, surpassing credit card indebtedness for the first time last year. If students were flashing their new degrees and walking into good jobs, that might not be so worrisome, but that's not the case….

Anne Michaud, "Selecting a College is Now a Matter of Dollars and Cents," Newsday, March 9, 2014 

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