2 ms·
> Not only is this patently false, the administration has discovered ,thanks to the pandemic, that people are re-evaluating the cost of a college degree. Ithac
by NoMoreNicksLeft 3y ago
> Not only is this patently false, the administration has discovered ,thanks to the pandemic, that people are re-evaluating the cost of a college degree.
Ithaca college has an endowment of $350 million, is heavily subsidized by the government, and the "everyone should go to college" lunacy they push in public schools will pay dividends for decades to come.
I don't think they're hurting, or that they will notice that a few people are "re-evaluating".
> The truth is, the college is massively overpriced compared to the amenities it provides. Dorms are old and the food is a level above prison tier.
Standard operating procedure is therefor to spend a few hundred million through financing to upgrade the dorms to resort spas, turn the cafeteria into some mall-style food court with prices double what they are 3 miles down the road at the identical restaurant name, and raise tuition to cover all these additional costs.
> Either figure out how to become more affordable or spiral the drain.
That spiral can last decades, until a date far past the retirement of anyone currently in charge.
- freitzkriesler2 3y ago> I don't think they're hurting, or that they will notice that a few people are "re-evaluating". They're noticing https://www.ithaca.edu/news/state-college-0 https://www.ithaca.edu/news/state-college-0 And students are asking the question on affordability. Anecdotally, zoomers I know are stroking expensive colleges off of their list. https://www.cnbc.com/2021/03/14/fewer-kids-going-to-college-because-of-cost.html https://www.cnbc.com/2021/03/14/fewer-kids-going-to-college-... It always starts small until it isn't. The cultural shift is happening and since I don't see interest rates dropping that affects affordability for everyone from students to colleges. And with interest rates as high as they are, financing isn't as easy an option anymore to do that type of turn over. Touching the endowment isn't an option either since that signals to big name donors the college isn't healthy.