By Jarrett Skorup | Michigan Capitol Confidential
In the next decade, potentially hundreds of colleges will go out of business as their prices push families away from traditional universities, said an expert on higher education.
American higher education is in a bubble, said Richard Vedder, an economist at Ohio University and the president of the Center for College Affordability and Productivity, who spoke Tuesday at an “Issues & Ideas” event sponsored by the Mackinac Center for Public Policy.
Vedder, who also is on the Mackinac Center’s board of scholars, said the government subsidizing college has increased demand but also pushed prices higher and out of reach for many students. At the same time, the worth of a college degree has gone down.