Changing Perceptions of, and Demand for, College
PLUS: Come get a Masters in PPE!
As many have recognized, there has been a significant decrease in levels of confidence in higher education amongst Americans (see this). There are a variety of reasons for this, but I’ve recently heard it suggested that this change has caused a natural significant reduction in demand for college. I want to suggest this is likely mistaken; if the decreased trust in academia has contributed to the reduced demand, it is only one factor and not likely the most important factor.
Some worry, of course, about small colleges closing down and smaller applicant pools across the board. Some worry that the latter will result in schools reducing their standards for entry. I don’t know if the latter will take place or, if it will, we should be worried. I do know that the number of people applying to schools has decreased (see, for example, this piece). I suspect that is not something to worry about at all—for it may primarily follow from demographic changes. The number of 18 year olds has decreased (see, for example, this census info). If the number of people approaching college age decreases, one would (or should) expect the number of applications to college to decrease. Not a big deal.
Some in academia will think it’s a big deal because it threatens their jobs. After all, with a smaller customer base, there are fewer people to pay for what is supplied. For my part, I think it natural that lower demand should meet lower supply. Of course, some colleges will either get smaller or close up shop. We shouldn’t grasp at straws trying to hold on to existing institutions as they are (at the size they are, with the number of programs they have, etc). Markets necessarily include creative destruction—with innovations, some technologies and the careers that they supported lose ground. Elevator operators lost their jobs. That may have been unfortunate for many of them but no one now bemoans the loss of a career path for elevator operators. The world changed. It will continue to change. We should expect the number of seats in colleges to decrease. (FWIW, I doubt colleges will all disappear but I do suspect much of what was great about colleges will migrate elsewhere; people will be able to improve their skills and knowledge by other means.) We should accept that.
*Some will ask why there has been a decrease in trust of higher ed across the US. Here’s what some may think is a “hot take” about why trust in higher education has decreased: perceived grade inflation and reductions in standards may be having an impact. (See this, this, and this.) Those that came out of college 15, 20, or 30 years ago (or more) may have a sense that college standards have decreased. If so, they might reasonably see less value in the product.
With all of that said, there is alot on offer on our campuses! For example, you can come study PPE (Philosophy, Politics, and Economics) to get a Master’s degree at GSU! The program is only a few years old, but our Bachelor’s program has already been called a “Hidden Gem” by the American Council of Trustees and Alumni. Applications to start the Master’s program in the Fall are due by April 30. The program has flexibility and can help many people. If you want to better understand political economy, improve your career, or simply want a higher degree, consider the program. See cas.gsu.edu/ppe.