The Recession, Higher Education, and What Ed Tech Can do to Help

Posted 08/14/2016 in Education Cost, Education Issues, Funding education, Online Education, Uncategorized

The 2008 Economic recession is known as one of America’s biggest financial crisis’ since the Great Depression. Millions of jobs were lost, families lost their homes, and inflation skyrocketed. Nearly everyone was affected by this giant financial crisis and are familiar with the affects it had on employment. However, what is less commonly known and recognized is the dramatic effect the 2008 recession had on higher education. This, however, could be one of the most important outcomes of the great recession, as our millenials are now suffering from some of the highest inflated tuition rates of all time. As Jeffrey Brown, the author of How the Financial Crisis and Great Recession Affected Higher Education, describes these effects, “The recent financial crisis had a profound effect on both public and private universities, which faced shrinking endowments, declining charitable contributions, and reductions in government support.” Of course, what happens when universities face a bleeding income? Tuition and other education costs must be increased. For the first time, young adults heading to college can no longer view higher education as an option, despite financial aid, scholarships, and grants combined. The inflation rate of universities has accelerated so much faster than that of the […]