Bubbles Bursting All Over

The Wall Street Journal reported this morning that 45% of students at private colleges are now getting significant financial aid, as enrollments have dropped 10-20%. And here's a useful graphic about how schools compare in terms of return on investment.

Shaky finances catch up with colleges

"In Shifting Era of Admissions, Colleges Struggle," writes the New York Times.

After decades of rising admissions made possible by the free flow of federal money, shaky U.S. financials finally catch up with colleges.

(Hat tip to Don Hauptman)

The Oddity of College Admissions

Imagine you're shopping for a car and you're considering a Toyota or a Ford SUV.

But most of the information you can get about them is:

1. What executives at other car companies think about these vehicles,
2. The average driving skills test score of those who bought them.

You decide on a Toyota, you fill out the paperwork to buy one - but then you have to HOPE that the Toyota company will let you!

Sounds nuts, doesn't it?

That's the apt way that Diane Auer Jones summed up the college admissions process for selective colleges during a speech at at the National Association of Scholars conference yesterday.