Thursday, April 29, 2010

Higher Ed Melt Down

I read a series of education blogs each day and one marketing blog by Seth Godin. Today the two collided in a great piece by Godin on the coming meltdown in higher education. His basic premise is since costs have significantly outpaced the benefits, the consumer will soon look for something else.

"Most colleges are organizaed to give an average education to average students"
"College has gotten expensive far faster than wages of gone up"

True that. How long can students pile on a ton of debt if they are not going to make the wages to pay that debt off? It has always stunned me when parents send their loved one off to a private college at $45,000 per year when a state school runs $16,000 a year knowing that both will pretty much make the same salary on graduation.

Online education and increased access to resources is making most college courses a commodity. With that in mind, are you going to pay a premium for commodity classes?

When marketing gurus take notice of the ridiculousness of Higher ED, it says something about how obvious this has become. The model will change and his thoughts are definitely worth a quick read.