Three Years Later.....

What a jolt at breakfast today! I realized three years ago, I was in final editing exchanges with my book editor, soliciting everyone I knew to be on my book launch team, & working with my coach on Amazon book algorithms and marketing hacks. It was insane. It was the definition of a wild ride!

So, let’s pause to see what has changed and what has stayed the same since the launch of my book, ENOUGH! The College Cost Crisis. It’s still a steal for under $20 dollars…

The Changes in Higher Education

1. A SIGNIFICANT DECLINE IN ENROLLMENT IN HIGHER EDUCATION. The demographics said this would start in 2026- but a pandemic and now 40-year high inflation rate have ushered in the era of declining student enrollments in 2-year, 4-year, private and public schools. Fewer students in the pool will change things, but may not help with the most critical issue, the cost to attend. You will start seeing weak schools closing or consolidating with others, elimination of expensive, poorly attended majors, and in some cases, closer scrutiny from the political world at the state(s) level. It is a challenging time that will require extraordinary leadership at many levels.

2. WORK & ON THE JOB TRAINING PLENTIFUL

   Yes, I acknowledge some tech company contractions in positions. If you are overhired and your product is not profitable, you will be laying people off. That is business. But, that is a blip out there. There are still over 2 MILLION trades positions still open; restaurants are limiting open days due to staffing; retirees can find a variety of work and do it on their schedule. In other words, it’s a worker’s dream setup! This employment picture is competing for students’ attention and doing a fine job of it. Many of these are career positions where you can make a quality living without college loan debt.

3. COLLEGE COSTS ARE STILL CLIMBING
   At some point, sometimes called a “tipping point” things start falling apart. This will come to every institution, but at different times. When there are fewer students, there are fewer options, fewer majors, and fewer activities. Finally, it will collapse under its’ own weight. Colleges have got to explore new ways to graduate their students, offering asynchronistic teaching, and proving “on-demand” education for those who have taken a different path. Frankly, they need to charge less for “asynchronistic” because once they are produced, the product is fixed, and there are no further costs until you re-do the course.

   Many state legislatures are slashing Community College costs tuition to encourage more people, especially the financially challenged, to attend. What are you, oh public and private colleges and universities, doing along these lines? You need to think about it NOW.

4. COLLEGE LOAN FORGIVENESS LOTTERY HOPES.

   I have NO idea what the Supreme Court will do on the Loan Forgiveness challenges ( yes, there are two, and the Court is holding a 2/28 oral argument session on them both). The ruling won’t likely be seen before June 2023. If it is a no, there will be another try through another law by the Administration. If it is a yes, there will likely be another filing to stop the loan forgiveness program. My advice remains the same; don’t borrow in the first place!

   ___________

   Three years later after the publication of my book, more people are taking a harder look at the cost of doing college traditionally. I have very little to do with that- but our economy and the Covid pandemic deeply impacted how we look at things now. If it is causing folks to reconsider blindly signing up for loans, I am thrilled. There are still many options.

   Please help your friends find my book,so they can find choose a direction suited to their gifts. Feel free to share this blog with anyone in need.

   Until Next Time,

   All My Best,

   Bonnie Burkett