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The scarcity of admission rates in premium universities has contributed to the rise in tuition fees by creating a high demand for limited spots. This high demand allows these universities to increase their prices. Additionally, the availability of federally subsidized student loans has enabled these price rises, as students are able to borrow large sums of money to pay for their education. This has led to a significant increase in student loan debt.
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What will the world of business look like after the coronavirus pandemic? The pandemic will accelerate every trend by a decade and redefine entire ind...
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In the past 40 years, college tuition has increased 1400% without any remarkable value addition or innovation. Premium universities have leveraged scarcity(low admission rates) to increase prices. These price rises have been enabled by federally subsidized student loans, leading to a total student loan debt of $1.6 trillion. In 2012, Clayton Christensen predicted that 25% of colleges and universities would go out of business over the next ten to fifteen years. By 2018, he raised the number to 50% pre-Covid.
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