Friday, November 04, 2011

Looks like we'll be part of the new trend

Even before the birth of our first daughter Janine and I have been planning on our children attending college.  We both earned Bachelors and wanted our children to have the addtional education that comes from college.

Just this last year we started rethinking this.  Our oldest is in her senior year of high school.  She is taking a couple classes at a local junior college. It tunrs out one of the local community colleges has a great project in Interior Design, which is what she is currently exited about.  We've been under going a mental shift because now her tenative plan is to earn her Associates and then leave to earn her Bachelors at a tradtional four year college.

The Washington Post reports that Two-year colleges draw more affluent students. The article starts with:

Julie Hong grew up in the sort of leafy Montgomery County suburb where college is assumed. Her parents had saved for the expense since she was a baby. When the time came, they said she could go wherever she wished. She chose a community college.

Comparatively affluent students are picking community colleges over four-year schools in growing numbers, a sign of changing attitudes toward an institution long identified with poorer people.

A recent national survey by Sallie Mae, the student loan giant, has found that 22 percent of students from households earning $100,000 or more attended community colleges in the 2010-11 academic year, up from 12 percent in the previous year. It was the highest rate reported in four years of surveys.

In the lengthening economic downturn, even relatively prosperous families have grown reluctant to borrow for college. Schools are finding that fewer students are willing to pay the full published price of attendance, which tops $55,000 at several private universities. More students are living at home.

Read that third paragraph again.  In just one year the number of students from higher income homes almost doubled from 12% to 22%.  In one year.

The article goes on to say that many families with good incomes are deciding not to spend through the nose for the four year college experience. 

This is just another sign that the education bubble will burst.
Hat tip: Instapundit


Fatcat said...

I went to a community college. It was a good experience. That's where we're looking for our son to go, starting in January.

SoCalLynn said...

Our daughter went to a CC for her general education then transferred to a California State college. We are just a plain ole' middle class family, but it saved her tons of money, she lived at home and she got a good education. She is Registered Veterinary Technician working in her field and volunteering at the zoo in her city.

Anonymous said...

Most 18-year-olds don't know what they want to "be" for the rest of their lives, so it makes much more sense to go to a community college: spend less money, take general education courses, decide on a major, etc. My husband and I were both from middle-class families, and we both went to community colleges (while living with our parents) before transferring to a four-year college. I grew up in a college town, so I ended up living at "home" the whole time to save money. It just made sense!

On the other hand, one of my husband's cousins went directly to a four-year college and her parents went into debt and lost their house, supposedly because of the college expenses. Unfortunately, she ended up changing majors and is going to take longer than expected to finish. And I doubt her political science degree will help her get a job when she graduates.

kat said...

I went to a huge state school for undergrad and found that the CC classes I took during the summer to be more productive. They were taught by people who knew their subjects, not just grad students from foreign countries. The classes were small and everyone had a chance to participate and ask questions, unlike the 200-300 person classes at big state school where you could spend all semester trying to talk to the instructor. Plus, it was much cheaper. I am willing to let my kids take a year or two of CC, even though they are eligible for free tuition at any school in the state (military dependent).

Henry Cate said...

The more we look into community colleges the more advantages I'm seeing.

The big one is the cost. As University tuitions continues to climb twice as fast as inflation I think more and more parents will be sending their children to community colleges for the first couple years of their higher education.

But like Anonymous says it is a good way to let young adults try various classes and see what hits their fancy.

And as Kat says the one-on-one instruction is very valuable, especially for freshman and sophomores as they make the transition to higher education.