Updated Jan 24, 2013 - 2:00 pm
'College bubble' may burst as technology progresses
Technological advancements may cause a number of college classrooms to transform into a virtual presence.
According to reason.com, approximately half of the 4,500 college and university campuses in the U.S. will not exist 50 years from now. This essentially means college educations will become free of charge. Although a no-cost college education sounds promising initially, the residual effects of a "college bubble" burst run much deeper.
Not only will thousands of professors lose their jobs, but the very existence of a bachelor's degree will dramatically devalue. Therefore, the student demand for graduate degrees will continue to rise in order for the individual to have any shot of standing out within the workplace. However, this will subsequently result in students paying more in tuition costs, especially considering an average student loan debt of $23,000 per graduate.
Despite these disconcerting statistics, what may be even more discouraging is the fate of these institutions of higher learning. The likelihood of private college collapses and public university reductions continues to become evermore plausible as technology increasingly expands.
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