Tuesday, December 16, 2008

Colleges and Universities: the Next Bailout?

Like the auto industry, American colleges and universities are headed for a long overdue shakeup, according to recent reports from independent research organizations.
What happened to the auto industry? Fundamentally, it was hubris.It was a belief that [we] had always built the best vehicles, and always would, and the public would buy whatever we built.’ That’s a classic example of a very, very mature industry losing touch with the people they’re serving…
“Thirty years from now the big university campuses will be relics. Universities won’t survive. It’s [Internet technology] as large a change as when we first got the printed book…The cost of education has risen as fast as the cost of health care…Such totally uncontrollable expenditures, without any visible improvement in either the content or quality of education, means that the system is rapidly becoming untenable. Higher education is in deep crisis.” (quoted in Forbes 1997) Read the full article by Joseph Schmoke Founder & Managing Member University Consultants LLC.

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