Too Much Higher Education

Are too many students going to college?

by Walter E. Williams

Too much of anything is just as much a misallocation of resources as it is too little, and that applies to higher education just as it applies to everything else. A recent study from The Center for College Affordability and Productivity titled “From Wall Street to Wal-Mart,” by Richard Vedder, Christopher Denhart, Matthew Denhart, Christopher Matgouranis and Jonathan Robe, explains that college education for many is a waste of time and money. More than one-third of currently working college graduates are in jobs that do not require a degree. An essay by Vedder that complements the CCAP study reports that there are “one-third of a million waiters and waitresses with college degrees.” The study says Vedder — distinguished professor of economics at Ohio University, an adjunct scholar at the American Enterprise Institute and director of CCAP — “was startled a year ago when the person he hired to cut down a tree had a master’s degree in history, the fellow who fixed his furnace was a mathematics graduate, and, more recently, a TSA airport inspector (whose job it was to ensure that we took our shoes off while going through security) was a recent college graduate.”

The nation’s college problem is far deeper than Continue reading “Too Much Higher Education”

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For Love AND Money

How do you get the most out of college?

by Brian Strow (Western Kentucky)

A flourishing life is not one dimensional.  It involves the search for truth and a striving for self-awareness/ self-improvement.  It requires the development of one’s mind, body, and soul.  A flourishing life requires faith, exudes hope, and shows love to others.  It also requires a broadly defined definition of education.

Self-improvement should be a lifelong passion.  Universities and colleges offer a unique development opportunity where students are enabled, and encouraged, to embrace their flourishing in a meaningful way.  Universities and colleges are not meant to produce perfect graduates, but rather people who are better equipped to pursue their view of a flourishing life.  Too often students obtain their degree without actually Continue reading “For Love AND Money”

Colleges Cost Too Much Because Faculty Lacks Power

Where is higher education headed?

By Robert E. Martin (Centre College)

Surveys reveal that the public believes a college education is essential but too expensive. People feel squeezed between the cost and the necessity. At the same time, public colleges complain thatthey are being squeezed by declining state support and increasing pressure to educate larger numbers of less-prepared students.

Yet society has provided higher education with a river of new real revenues over the past several decades. Since nonprofit institutions of higher education follow a balanced-budget model, expenditures are capped by revenues. Therefore the real cost per student cannot increase without a corresponding increase in real revenues. So the problem has not been too little revenue.

Nevertheless, college affordability has Continue reading “Colleges Cost Too Much Because Faculty Lacks Power”