This Is A Developing Story And One That I Have Presaged For A While Now

Here's the link:

http://news.yahoo.com/s/ap/20090208/ap_on_re_us/meltdown_community_colleges

Here's another recent link that reinforces my observations:

http://www.boston.com/news/local/massachusetts/articles/2009/02/23/dread_is_rising_in_harvards_hole/

The point is that the famous name colleges like Harvard and Princeton, with their high price tags but equally prestigious names (and generous financial aid) will continue to see excellent application and enrollment figures as long as their endowments hold (dubious, see previous posts) so that they can continue to subsidize student acquisition.

And state universities for in-state students are still financially worthwhile. But for the expensive, smaller institutions that do not have a Harvard cachet, nor the financial wherewithal to make generous grants, my view is that they had better watch out.

Education is and always has been what you make of it. With $30,000+ price tags, in this dismal economic environment, many students may conclude that it just is not worth it to blow all that dough at a less famous, but only slightly less expensive school. And the money you save by choosing a more modest option can be very useful when you finish your undergraduate education.

In other words, you don't get a tangibly worse experience in a place like a community college, you preserve your alternatives (and your capital) and if you are a really assiduous student, you can get a great education anywhere.

With today's economy being in shambles, one thing strikes me as particularly imprudent. If you have a reasonable state university (most states do) with decent in-state tuition, unless you are getting a scholarship or extensive financial aid, why would you trade that for out-of-state tuition (sometimes double) at a comparable university in another state?

PS My son Rob was astute enough to find the following article at this link and I thank him for this research...you want corroboration, here it is:

http://www.forbes.com/2009/02/20/harvard-endowment-failed-business_harvard.html?partner=yahootix