When the higher ed bubble bursts
August 26, 2010 by Jake SimmsPosted in: In this week's e-newsletter, Internet, Latest News & Views
College costs almost nine times as much today as 35 years ago. What happens when that bubble bursts?
Count on more schools turning to online courses and programs.
Here are three reasons why:
1) Families are balking at ever-rising housing costs and fees at four-year colleges/universities. Online education is the more cost-effective, long-term solution because it doesn’t incur “on-campus” costs.
2) Some students thrive under direct professor supervision. For them, online education provides scheduled chats or “live” classes via video/audio or audio. Students who don’t require that interaction can watch lessons and do assignments by their own schedule.
3) Bill Gates says so! “Only technology can bring [college tuition] down, not just to $20,000, but to $2,000 [through online learning],” the Microsoft chairman says.
Are there other ways colleges can reduce costs? Share your opinion in the comments section.
Tags: college costs, distance learning, higher ed bubble, Internet, online learning, technology in education, tuition
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August 26th, 2010 at 2:46 pm
Faculty who teach summer classes make huge amounts of money. This is never questioned or
brought to the attend of the media- Colleges could use part-time faculty to teach summer and
save tens of thousands of dollars. A faculty member who makes $75,000 for their 30 weeks a year,
fall and spring semester can make an additional $15,000-20,000 teaching 8 weeks of summer classes.
This is outrages !! Colleges always find money when they want to for projects or inflated salaries.
There are ways to cut down- they just don’t want to do it.
September 3rd, 2010 at 11:03 pm
Mary, it sounds like you’re feeling pretty bitter about something personal, and I’m sorry for whatever has happened to you. You need to know that not all faculty make lots of money. I have a PhD, 5 years of teaching at the same college under my belt, and make just under $35,000 a year. Before you slam an entire profession, think about doing some research.
September 5th, 2010 at 5:07 am
Mary, Mary, Mary! Please do as “loves My Job” suggests and do some research on faculty salaries. I assure you the high cost of college is not faculty salaries. In fact, we are paid in the summer at the same rate that we are paid during the regular semesters. The $75,000 salary that you quoted is at the higher end of the salary scale. I have a PhD in Mathematics,l have been teaching at my current university for 26 years, am a full Professor and make less than $75,000 on my 9-month salary. I have been producing students for years who surpass my salary only 4-5 years after getting their B.S. degree. In other words, Mary, you are definitely barking up the wrong tree. Here in Texas, since the deregulation of tuition and fees, the colleges have become building happy. Look at the new construction on campus. New dorms, new student centers, new workout facilities, new parking garages, etc. Many new facilities that are not needed, except in the higher ed race to attract students to their campus. Many new administrative positions are created each year,l along with new offices and personnel to fill these positions. If you want to question salaries, look to these new, superfluous administrative offices for wasted money. Money that should be going into educating the student is, instead, going to a new VP of Student (Affairs/Recreation/Socialization/Retention/etc) Money is being misspent on college campuses,l but not on faculty salaries. Do the research. Find out for yourself.
September 5th, 2010 at 11:11 am
Mary
I made $2500 teaching a 4 hr course during summer. Not sure where they are giving out $15-20K for summer teachng but if you would PLEASE post the institution I will polish up my resume. Like” Loves my Job” I am not making nearly what you are throwing out there as fact, and unlike “Loves my Job” I have been teaching in college for 16 years (I just broke $57 K this year). The biggest cost of education is not just salaries but also liability insurance and keeping up with the rapid changes in technology (replacing computers every other year).
September 7th, 2010 at 6:27 am
Robert Reich has a good idea; make college free. It is an investment that will pay itself off easily.
http://www.alternet.org/story/148087/the_wealthy_have_enough_money_–_it%27s_time_to_put_some_cash_in_your_pocket?page=3
Saddam managed to do that (for the people he wasn’t torturing); so certainly the USA can figure it out.
September 7th, 2010 at 4:04 pm
Will you stop picking on Mary…I work at a community college, and we have faculty making over 100k per year. And make even more during the summer. I work in IT, supporting Payroll, so I have done the research, and I do know. If the public knew how much money is GIVEN to faculty there would be riots. A couple of years ago, the faculty were paid $50 to attend training to “learn” how to do on-line grades instead of filling out paper forms. And Administrators are not without guilt either. But I guess it all depends on where you work.
September 23rd, 2010 at 4:16 pm
Looking at the demographic of the institution is important too, just like cost of living in your particular part of the country. I live in a big city area and therefore my cost of living is higher and need my salary to compensate for that. I make big money because unfortunately I pay big money for living here. My colleagues I graduated from college with, who took job in smaller cities or towns, makes considerably less than I do but end up putting the same percentage of their salary into savings at the end of the year because their cost of living is cheaper than mine. This may be the reasoning behind two same individuals; one making $40K a year teaching in rural America verse the other making $90K in New York, Chicago, California, etc…
September 27th, 2010 at 12:11 am
My institution, like many others, pay summer salary based on a percentage of 9-month pay. For us, a 3 credit class will earn the instructor 11%, teaching two of those in a summer is considered a full load. Thus, we can only earn 22% of the 9month salary, meaning we can never actually get to 100% (that would require 3 classes or an additional 33% of the 9 month).
So yes, faculty who are full profs and earning 100k plus will earn 10k or more per class. But if you want to complain about their summer salary, you need to look at the annual salary as well. This of us earning 30-40k, well, I’lll teach as many classes as I can for $3,500 each so I can pay the bills.
More importantly, we should look at where tuition dollars actually go. Again, at my institution, the tuition for the first 18 students in a summer class goes to the university itself – not one dollar has made it to my department or to pay my salary. Furthermore, it only takes 1-3 student’s tuition to pay my salary (6-7 for the higher paid faculty). Where does the rest of the tuition money go?? That is the real question that should be addressed!
March 18th, 2011 at 8:55 pm
Isn’t it amazing how much those darn community college professors make? Our local community college can boast up to 40,000 students. Since I only have time to take online courses, my choices are limited and now next to nothing because I can’t compete with full time students during registration.
Did anyone mention that classes can be up to 95 students per teacher? I don’t know the exact number, my spouse is an adjunct faculty. In two English courses there will be 60 to 95 students in each course. The community college has a limited budget for “Readers”, so one semester they could use two “Readers” but the next semester they’ll be limited to 8 hours for the entire semester to give one Reader. The Readers only earn minimum wage. The cost of building maintenance, security, utilities, administrative services (someone has to ‘man’ the phone to answer questions) all cost a significant penny that comes from taxes that you and I pay. I agree with Gates somewhat, online courses are a menable mode of teaching any class that don’t include labs where students have an opportunity to have a hands-on experience.