With all the talk about the debt situation and Tuesday’s debt ceiling deadline in the US, I thought it would be appropriate to reflect on how the negotiations and the lack of an agreement might impact education.
College students looking for student loans could be the first impacted as many predict interest rates will turn higher. For the already debt-ridden process for some students this is not good news and certainly doesn’t help make college education a more affordable package.
For the industry as a whole, I would expect there to be renewed focus on efficiency and continued questioning of the cost of delivery. Whether that be the tenure system, tuition increases, low cost delivery, or incorporating technology to deliver to more students, educators need to reign-in the criticism to find alternative strategies.