Vanadium 50 said:
Out of a budget of $6B. It's 5%. This is not making a value judgement on the cuts - just saying that one needs the denominator as well as the numerator to understand things.
The fact that a tuition freeze comes with this makes Walker's plan transparent. Nationwide, college costs have been rising meteorically and a huge part of this growth has been in administration. Walker seems to think this will force the UW system to get by with fewer administrators. I very much doubt this will be the outcome - can you imagine a meeting of university administrators where they conclude "the problem with skyrocketing tuition is...us! We should fire some of ourselves."
This is one of the major problems in post-secondary education in the US today: How to slow the increase in the cost of a college education, to keep it, if not affordable to many, at least below the point where graduates are turned into wage slaves in order to pay off massive student loans.
Student loan debt which has accumulated over recent years has been growing by leaps and bounds, fueled in part by various state and federal aid programs:
http://www.forbes.com/sites/tomlindsay/2014/12/13/forgive-us-our-student-loan-debts/
It is estimated that the total amount of student loan debt in the US is about $1.1
trillion, which figure is larger than all of the credit card debt held by Americans. College tuition costs have risen 440% over the last 25 years, more than health care costs, more than inflation over the same period. Clearly, something has got to give, because such figures are unsustainable, IMO.
As has been pointed out, if you are a recent college graduate who is carrying tens, if not hundreds, of thousands in student debt, you are unlikely to be able to afford your own home or start a business or even a family with such large outstanding debt. The consequences follow you for years after you have attended your last class. And the kicker is, most such debt is not dischargeable in a personal bankruptcy. You're stuck with it until it is paid off or otherwise forgiven.
One stark example of what can happen if these problems are not addressed is the situation at law schools in the US:
http://www.cnbc.com/id/102277025#.
The market for new attorneys has dried up since the latest recession began. Many law schools are enrolling fewer applicants than they did five years ago, but the number of accredited law schools in the US grew from 169 schools in 1982 to 204 in 2014. This means that some of the smaller law schools, those not associated with a major college or university, face the stark choices of laying off faculty and staff or closing outright.
http://www.slate.com/blogs/moneybox...e_get_ready_for_schools_to_start_closing.html
Apparently, dental schools have faced similar challenges in the not-too-distant past. Dental school enrollment reached its high water mark in 1979, but had dropped by a third over the next few years. As a result, about 10% of the dental schools operating in 1979 were out of business by 1989.
Academics famously believe they operate above the fray of those outside their institutions, but the laws of economics permeate all of society, and only the foolish believe they are immune to them.