I’ve been referring a lot to chickens over the past few years. Specifically, to their penchant for roosting, and their tendency to do so only after coming home. The chickens in my metaphor are the current crop of young men and women who have been encouraged to borrow vast sums of money in order to attend a college or university. It seems that many of these potential scholars are no longer persuaded by the bargain upon which our educational system has relied upon for so long. Namely, the false promise that a four-year degree – regardless of cost – is a necessary investment in one’s future. As the attached article explains, enrollment numbers at universities across the country are about to fall off a cliff. Which means that the chickens have indeed come home to roost. And that’s good news.
The article speaks for itself, and is worth a read, especially if you’ve got a kid evaluating the pros and cons of assuming the burden a student loan. I just want to add that, contrary to popular belief, I’m not taking a victory lap. At mikeroweWORKS, we offer scholarships to people who wish to pursue a vocational education, and after doing so for the last 16 years, a lot of people have concluded that I’m celebrating the looming collapse of America’s university system. Well, I’m not. I believe our country desperately needs a robust and affordable way to provide a useful education to anyone who wants one. But of course, that’s not what our current system does. At least, not for the millions who drop out before graduating, or for the millions who can’t find work in their chosen field, or for the millions who spend decades paying down a debt they should have never assumed in the first place. When I say the headline in question is “good news,” it’s because I believe the only way our colleges and universities will ever improve, is if they listen to the market, and dramatically reimagine the best way to educate the overwhelming majority of Americans who currently can’t afford their product. Perhaps this news will snap them out of the torpor?
Or, perhaps not.
Either way, in the short term, it’s clear to me that the headlines have finally caught up to our mission at mikeroweWORKS, and that 2025 promises to be our biggest year yet. The opportunities for those willing to pursue a skill that’s in demand have never been better, and the need for such people has never been greater. My foundation will continue to do all we can to help train the next generation of skilled workers. And along the way, I’ll continue to remind my critics that I still believe a liberal arts education is a worthy pursuit, but not at any cost. The real enemy with regard to education is cookie-cutter advice, and preposterous belief that best path for the most people just happens to be the most expensive path. And finally, that universities – just like hospitals and sports arenas and libraries and corner offices and every home in the country – only exist because someone built them. Someone who understood the importance of mastering a trade.
Happy New Year!
Fox News: Class dismissed: Colleges expected to close as enrollment numbers tank