With fewer families able to pay for an expensive college education, some institutions may start to rethink the way they conduct business
Carolyn Kaster / AP / File
[I]f current economic trends continue, much of traditional academe is going to be forced to change. Families can no longer use their house as an ATM. States are making tough choices about the size of government, and public colleges are often left at the end of the line. And now the federal government is likely to cut back on many of its fiscal promises to deal with an out-of-control deficit.
The bottom line is that we’re likely to face a future where students and their families pay a lot more of the cost of a college education out of pocket. Without grants and loans as a safety net, students are probably going to make different choices than they do now (read: less expensive choices). We’re likely headed toward a future where smaller, struggling colleges need to move to new models of doing business, while elite, wealthy colleges continue to support the current model.