Parents struggled to live in districts with “top” public schools so they could get their kids into good colleges. Once admitted, the students often borrowed huge sums (most of which went into the colleges’ pockets) to attend. The goal was a degree from a “prestige” school, which would guarantee a good job out of college or admission to a top law, medical or other professional school and thus a secure position among the haute bourgeoisie.
That system is falling apart. Higher education’s enormous costs, which have grown at a rate exceeding that of most other items in today’s budgets, have become such that even a good job as a doctor or lawyer often isn’t enough to justify them, and hardly any other professional jobs even come close.
As a result, college enrollments are plummeting — nationwide undergraduate enrollment fell by 650,000 in a single year, spring 2021 to 2022. It’s down 14% in the past decade, even as the US population grows.
But there’s a new wrinkle. It’s not just colleges that are “woke,” it’s also employers. And woke employers are pursuing a new strategy that may make colleges go broke faster, as notions of “equity” and “privilege” popular on campus spread to the corporate world.
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