The Value Gap


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Keynote presentation at NYSACAC at Ithaca College, June 2012

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The Value Gap

  1. 1. the value gap Jeff Selingo June 2012
  2. 2. 2012
  3. 3. 199520122029
  4. 4. 1999-2009 A decade of More
  5. 5. MoreStudents,MoreDegreesNumber ofstudentsup by 1/3since late1990s Source: U.S. Education Department
  6. 6. 2 in 5 titles on government list of academic programs didn’t appear on it in 199021% increase in titles since 2000 More Credentials
  7. 7. More TuitionIn 2003, only 2colleges chargedmore than $40KBy 2009, 224passed thatmark. Another58 passed $50KSource: The College Board
  8. 8. More Debt$277,000,000,000Amount of debttaken on bycolleges, which hasdoubled just since2001Source: The College Board
  9. 9. Students were willing to go to any college andpay almost anything for a degree Why?
  10. 10. Answer: Degree PremiumSource: The College Board
  11. 11. Degree premium has dropped since 2008 but still better to be a college grad than a high school grad Source: The College Board Unemployment Rates Among Individuals Ages 25 and Older, by Education Level, 1992–2009
  12. 12. 2008 a shifting paradigm in debate over the cost of college
  13. 13. Enough is enough Families could no longer use their homes as ATMs
  14. 14. no home squeezed federal more out equity states deficits of pocket
  15. 15. A shift from talking about price to asking about value
  16. 16. What am I paying for? Rate the job the higher-education system is doing in providing value for the money spent? 57% of public says fair/poor76% of college presidents say excellent/good Source: Pew Research Center/The Chronicle
  17. 17. 1 in 3 Number of presidents who said there isno one single effective measure to judge the quality of a college degree Source: Pew Research Center/The Chronicle
  18. 18. How and what will Ilearn ?Will I get a job ?Will I make enoughmoney to pay off my debt?
  19. 19. How and what will I learn?36%Reading and writingField of study matters
  20. 20. Will I get a job? Source: Georgetown U. Center for Education & Workforce
  21. 21. Will I make enough money topay off my debt?
  22. 22. 1999-2009 A lost decade
  23. 23. Keys to Disrupting Legacy Industries Hubris Skepticism of anything new Unwilling to hear opposing viewpoints
  24. 24. “The only really necessary people in the publishing process now are the writer and the reader. Everyone who stands between those two has both risk and opportunity” -Larry Kirshbaum Head of Amazon’s NY Publishing Unit
  25. 25. Key Question: What are the less tangible aspects that define your college experience that can’t be easily be replaced by fragmented, simplified services on the Internet?
  26. 26. The Coming Disruption Most at Risk Least at RiskCommodity courses The “experience” The network Maturing students The credential The student/professor relationship
  27. 27. “The Internet will stay around, but whetherit will become a significant commercialforce is questionable. I don’t picture theWeb replacing television or newspaperadvertising in the next decade.” – Peter Krivkovich, president of Cramer-Krasselt July 12, 1995
  28. 28. Coming in Spring 2013:College (Un)Bound jeff@selingo.comThe Future of Higher twitter: @jselingoEducation and What ItMeans for Students