Doug Belkin

speaker

287 appearances 5 recordings 1 series first heard Sep 2017 last heard Mar 2023

Doug Belkin’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · How College Enrollment Declines Can Affect Students' Finances · 14 Jan 2022 podcast

So these changes tend to happen slowly.

And when they do, they can be dramatic and painful on college campuses.

And we're seeing that, especially at these small schools around the country where these shifts are beginning to happen.

There's another interesting effect to all this.

And when schools lose students and they can't invest in their education, they often at times offer a subpar education with fewer services, fewer professors, fewer programs.

And there's a nickname for these schools.

They're called zombie colleges.

And it's a derogatory name, and it means that the schools are sort of limping along, but they're not really able to offer a good, strong education and prepare their students for what's next.

But they don't want to dissolve or close, so they just sort of march forward.

This is a historic shift.

We've seen higher education grow since well before World War II.

The GI Bill had just exploded and we went from three or four million students to upwards of 20 million students, all the way up until the Great Recession.

And essentially what happened is we overbuilt schools and now the number of kids has shrunk.

and there's increased competition from online education groups, which are not traditional.

Google can offer a very strong credential that can get you a good job.

LinkedIn offers services.

There's a lot of different ways to get an education now that don't include an accredited four-year university.

So the competition is coming from different directions, and it's undermining the foundation and the business model of the schools that have been around for 250 years.

So in some ways, this is good for students because the supply and demand curve is upside down from the school's perspective.

They have to lower their costs.

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