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It's Not Just The Students Who Are Broke: LSU Draws Up Bankruptcy Plan
We’ve spent quite a bit of time documenting the student loan bubble which has now ballooned to $1.3 trillion and has recently led The White House to reexamine how student debt is handled in bankruptcy. Further, we’ve taken an in-depth look at delinquency rates in an effor to determine just how dire the situation has become. As it turns out, nearly one in three students in repayment is 30 days or more past due and recent data out of the St. Louis Fed indicates that far more delinquent borrowers are becoming “seriously” delinquent (i.e. never going to pay) now than in the past. Meanwhile, Moody’s recently warned on some $3 billion in student loan-backed ABS noting that increased use of IBR combined with deferment and forbearance make it increasingly likely that some paper will not be fully paid down at maturity.
Now, it appears that it’s not just students that are in dire financial straits, but schools as well because as Bloomberg reports, Louisiana State University is now drawing up bankruptcy plans in the wake of funding cuts from the state:
Louisiana State University will draw up a financial exigency plan, equivalent to college bankruptcy, as budget cuts proposed by Governor Bobby Jindal threaten to cripple the higher-education system.
Exigency, declared when schools face insolvency, would allow the state’s flagship institution to restructure and fire tenured faculty.
“We know the worst-case scenario, we know the timeframe, and we know what’s at stake,” President F. King Alexander said in a statement. He said he wants legislators to “mitigate the devastation these budget cuts promise.”
State cuts to higher education have sent tuition soaring across the U.S., adding to the more than $1.2 trillion in student-loan debt. While public subsidies covered almost three-quarters of operating costs in the 1980s, the share is now closer to half and falling every year, according to the State Higher Education Executive Officers Association.
Louisiana faces a $1.6 billion budget shortfall in the coming fiscal year, a result of both plunging oil-tax revenue and the state’s failure to enact adequate tax increases or spending cuts after the economic downturn in 2009…
The latest plans would mean an 82 percent cut to the state’s public colleges and universities. Per-student funding would plummet from $3,500 to $660, according to the New Orleans Times-Picayune, causing concern at Baton Rouge-based LSU. The school may be running out of time to find a solution, as the state’s legislative session ends June 11.
According to Alexander, those last figures are indeed as bad as they sound. “States around the country spend more than that on their community colleges,” he told the New Orleans Times-Picayun. The President went on to note that if the university opts for financial exigency it will “never get any more faculty.”
The school recently cut its planned new hire count by more than 50% from 125 to just 60 and says that in the event the worst case budget cut scenario plays out, it will have to cut 2,500 courses, an eventuality which the school says is simply not tenable.
Of course what all of this means is that tuition will rise, burying students under still more loans, a third of which will be delinquent once they go into repayment. Here’s NBC:
But without a rescue from lawmakers, Alexander said programs could be dropped or entire departments shuttered under a worst-case scenario. "Specifically, we don't know which programs or departments we're talking about [but] it would require us to utilize every tool possible," he said.
Even if the worst-case scenario doesn't come to pass, it's possible students could find themselves paying more, through increases in tuition and fees or decreases in the state's TOPS scholarship program. Lawmakers have historically been reluctant to raise tuition -- currently $8,758 for tuition and fees for in-state students at LSU -- but there is discussion about giving schools themselves more freedom to do so…
"We've gone from being very state funded-intensive to being tuition-dependent, and we've got 40 percent of our students that are Pell [grant] eligible," said Sandra Woodley, president of the University of Louisiana system, which consists of nine universities throughout the state. Since 2009, tuition and fees have climbed by 61 percent while state funding has dropped by 55 percent, a drop of $90 million.
"We've already shifted to mostly being funded by tuition revenue in a state that has a relatively low income population," Woodley said. Further cuts would just hurt the most vulnerable.
Meanwhile, Moody's has cut its outlook on the university from stable to positive (apparently being bankrupt counts as "stable") citing "limited prospects for sustained revenue growth due to potential reductions in state operating funding, tight state control of tuition pricing, and pricing sensitivity limiting out-of-state enrollment revenue growth." LSU then pulled a $114 million bond offering which would have financed the construction of a new residential hall, family housing and a student health center.
* * *
So in the end, the decline in oil and gas prices which has been partially driven by QE-fueled deflation has helped to blow a hole in the state's budget (taxes on oil extraction account for some 15% of Louisiana's revenue), which is in turn set to trigger budget cuts that will cripple LSU, possibly causing the university to raise tuition which will encourage students to accumulate still more federally-backed debt. Yet another virtuous circle.
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Louisiana....who gives a fuck really....
The school that I went to has doubled in size in the last 20 years. They have to build the most expensive artsy buildings and are now in huge debt (as in hundreds of millions). Their only answer is to beg the alums for cash and raise tuition....both are just dead ends
"The President went on to note that if the university opts for financial exigency it will “never get any more faculty.”"
They say that like it's a bad thing.
Their Economics Department, Finance Department, Political Science Department and Climate Science Department are already morally bankrupt so it only seems fitting that they should be financially bankrupt as well.
P.S. Let the faculty take a nice Big fat Greek salary haircut.
"...it will have to cut 2,500 courses, an eventuality which the school says is simply not tenable. "
The Science of Harry Potter, UCLA - needs to be gone
The Phallus, Occidental College (Obama's school) - needs to be gone
The list of ridiculous college courses is beyond reason.
Michael Snyder (of course) even had a list.
http://theeconomiccollapseblog.com/archives/20-completely-ridiculous-col...
Any course which develops critical thinking skills would be an essential requisite. Too bad budget cuts eliminated these types of courses decades ago.
But, but, but, but, but, but, but, but, Keynes said...
Ha, Ha,
How else can they attract the best and the brightest ?
I wonder what they pay their football coach.
well, Northwestern is voting to go Union....players would no longer be "students" but "employees" of the university....and would siphon all the football cash away from the university to their checking accounts.
....wonder what that missing ($15MM? $25MM? 50MM? each year) revenue stream will do to tuition for non "employees".....
Everything government touches turns to crap.
- Ringo Starr
So no professor of basket weaving?.. Your breaking my heart come on!!
" College men from LSU
"Went in dumb, come out dumb too" Randy Newman
Ya mean my LSU student guidance administrator might not be getting that $16 million pension?
Critical thinking skills have to be developed when young.
College years are way too late. By then they are thoroughly programmed by the State.
Don't rush to be smart, that's stupid, becoming smart takes A LOT OF TIME & STUDY!!!
(It has nothing to do with age sir, but rather more to do with the desire to become & much EFFORT!)
The brain basically develops over two decades as a controlled process.
For example, if the window to learn a language is missed, you are then at a disadvantage with using language.
how could you have POSSIBLY left off the ATHLETIC Department! :) I'd love to ask, how much does that Athletic Department run you every year, but LSU is like every other University in pursuit of Football domination. The true cost is burried in so many insidious places it would be impossible for an Accounting Department to even begin to calculate.
Same of course is true in High Schools, but the dollars are just smaller.
PS. Isn't the highest paid government employee in the state of Louisiana the Football Coach at LSU? Thought so.
Typical hype and arm waving from ZH. State funding is one of many revenue sources, like tuition, student housing, the endowment fund, etc, and these massive institutions typically pay NO LOCAL REAL ESTATE TAXES. Think about that.
Here's an idea. Close all the "traditionally black" institutions in the state, whose mission is obsolete, and only put out bogus degrees for affirmative action flunkies, and fire 90% of the "administration".
See how easy peasy that was???
Without propaganda mills the quality of eduction might actually rise...
least we forget the state also has a red state governor. well what the fuck has he been doing these past years? taking care of budgets? sorry, sometimes you just gotta ask
p.s. 6 down votes? someone still believes in the red or blue state crap? there is no difference morons....none. the only difference is the "COLOR". corporate welfare is set in stone/with both parties.....wake the fuck up
LOL - yup.
This is happening in every State; less funding from the State government, which means the increases are passed on in the form of tuition hikes, which means the bill is passed to Parents, Grandparents, and/or Student Loans via the Federal government.
States are doing this with employment as well, changing full-time positions for every mid to lower level rank into 29 hours per week jobs, meaning no benefits; no pension or defined contribution plan for the State, and the bill for healthcare subsidies is passed to the employee and the Federal subsidies (which go to enrich the health insurance companies and Corporatcare system).
Private corps are digging up some old ways of cutting pensions; simply merge with another company and then amend the pension plan to give fewer benefits.
There's many reasons for lots of M&As these days [besides hiding any fraud and scambling the books]. .
The same goes for elementary, junior high, and high schools. The buildings being erected are not there for the students. Rather, they are monuments of self-worship for the staff, faculty, architect and politicians. Not to mention the building contractors making a mint on the backs of the taxpayers. Of course, these contractors are paying Davis-Bacon union scales, so the trade unions are benefitting from this boondoggle as well. It is a crooked cabal of scumbags exploiting the taxpayer in the name of the "next generation".
As a kid, I was dragged across the country as my family looked for work. As a result, I attended schools from one corner of the country to the other. You know what? I didn't give two shits what the school looked like. The best education I got was at a private Christian school that taught out of used doublewide trailers. But hey, when it isn't your money, that brand new school with the gold-plated toilets looks mighty appealing.
I'd wager about 90% of the money that goes into US primary and secondary education is a fucking waste... I've seen my fair share of "it's for the children" bond issues get passed over and over again, resulting in some Taj Majal school district project that had *fuck all* to do with improving education... it sure as hell increased our property taxes, though... never understood how so many people around my neck of the woods who consider themselves "educated" can't make that connection... they think bond issues are free money... morons
Speak of the devil, we just got hit with a $60 mil school bond issue. The property taxes on my business quadrupled, and I'm not even in city limits. I live in a very conservative area, but even they can't resist dipping into my pockets. Scumbags.
Thank God for other people's money. .......
..
WTF ,the madness never ends.
The Debt Bubbles are gonna bust soon & it won't be a honey moon for any nation, period.
Trust me on this one, you have no idea how mad this world is about to get...
"...it will have to cut 2,500 courses.."
Hopefully that will include underwater basket weaving and all those courses that (cough) student 'athletes' take on the taxpayers dime.
They'll probably fire all the straight white males teaching math, science etc. and keep all those teaching women studies, black studies, queer studies, etc. You know, the really important subjects. Otherwise, it would be racccccist.
"Louisiana....who gives a fuck really...."
Americans and the American country.
The same people that cared about the Bundy's and the surrounding community around the Bundy Ranch?
Liberty is a demand. Tyranny is submission.
"We stand together against tyranny, or we huddle together in the labor camps."
Sorry to disagree, but only a moron would stand against 100:1 or 1000:1 odds.
The solution is there, and a number of ZHers understand it: leave, leave the rotting corpse that was America.
The behavioral adaptation that is freedom is present in probably less than 1% of the US population. It is a nuisance, an encumbrance, or the outright enemy to the other 99+% and the chances of their changing those beliefs is practically nil. That is until they die, or by them getting rid of the freedom culture entirely.
My position is "outlive the bastards", not get slaughtered by them so they can remove the freedom adaptation from the gene pool and be secure with their lives that originated in the animal world.
This is my country, not theirs.
Liberty is a demand. Tyranny is submission.
Thank you kchrisc. I was born & raised in Louisiana. It really is a great state. The people are the most friendly, giving & fun on the entire planet. We are absolutely family oriented & our friends are just as important. We stick together & are very conservative. We all work for what we have & we don't take kindly to being robbed. It truly is a sportsman's paradise. We are armed to the teeth & not afraid to prove that we stand for liberty!
Louisiana is not the problem & we will stand proud with the rest of the country to defend America who is under attack.
And then there is New Orleans....
Yeehaw.
"We are armed to the teeth & not afraid to prove that we stand for liberty"
I stand with you in the defense and Restoration of the American country, of ourselves, and our human dignity.
An American citizen, not US subject.
Liberty is a demand. Tyranny is submission.
The most powerful weapon the American people have is Rejection.
The system of fraud and theft that has been built up upon the backs of the American people is dependent upon our backs. Withdraw our backs, and the whole scheme collapses. This is our greatest weapon.
Quit Paying--Put it into food, and precious metals, etc. They stole whatever "debt money" they loaned you in the first place (fractional reserve banking) and soon you won't be able to pay them anyways.
Quit Obeying--If they are in violation of the Constitution then they are not legitimate anyways.
Quit Playing--Quit being a tool for them to use.
The Four Rs
Rejection: Stop Paying, Stop Obeying, Stop Playing
Revolution: It is inevitable, so prepare, as they are.
Retribution: The guilty must answer for their crimes against the American people and the Constitution.
Restoration: Restore the American people, country and Constitutional republic.
kchrisc - you have been on a roll for a while; keep it up.
Do you even know who the fuck you are defending??
Geaux Bankrupt!
Just the beginning of the tsunami to come...
Does this mean Les Miles won't get paid?
I assure you, the LSU football program is at the bottom of the cutbacks list.
I'm sure the football program will not be touched.
Every government agency should see these cuts, sooner not later.
Welcome to our world, kleptocrats.
Damned right, And no, the football program probably won't be touched because it's a huge money maker for the university.
They need to cut out the useless crap degrees, psychology and arts. Here's an article written by a woman about how many useless degrees are being created(this all started back in the 70's with the ERA push). If a man had written this article, he'd probably be working at Starbuck's, too.
http://www.washingtonpost.com/blogs/she-the-people/wp/2014/09/05/why-sal...
Regardless of the degree, if she learned how to suck dick in college she will always be employable.
hate to say this, since you're comment was so well received. However, it is my personal belief that big time college football programs are not nearly the "money maker" we think they are. The schools are incentivized to represent these programs as giant money makers...why?
Here's my challenge...any program that claims to be a money maker should be willing to be set up, in the schools accounting systems as a separate entity. all stadium costs, electricity costs, facilities cost, travel costs, employee costs, scholarship costs, security costs...and a HUGE percentage of overhead allocation should be charged against that entity. If it really makes money then they should welcome this. But this won't happen.
PS...I'm almost always pulling for LSU because I usually hate their opponents.
Maybe. My alma mater makes the same claim, but I wonder if it's true once you strip away all the subsidies.
Ask any financial officer at any State university how much the state actually contributes to the running of the school. Many states contribute less than 5% of the operating budgets. Are they State Universities or State Located Universities?
In any case, the last programs cut will the athletics.
Your right, you don't touch your football program because without it you would have to cut even more from your budget. Because everyone knows they get slave players without having to spend a dime and then rake in millions off their backs.
College sports programs may thrive financially by using what you call slave players, but I wonder how many of those slave players would be accepted into a college were it not for their sports abilities. Based on interviews I've watched, many of them sound like they haven't earned a high school diploma, much less learned anything at a college level. College sports is big business and it opens many doors to jocks that would otherwise remain closed. Is there a better way? How about corporate backing of each college sports team? Rather than the Florida Gators we could have the GM Gators of the University of Florida. Or the Pepsi Cola Seminoles of Florida State, or the Weather Channel Hurricanes of Miami. And if single sponsors aren't enough, they can go NASCAR and wear numerous sponsor tags on their uniforms. (As an aside, Congress should be forced to wear sponsor tags from their top donors; that would be revealing.)
Back to your 'slaves': just who, exactly, is forcing them into such 'slavery'?
It's just a bluff.
Also called "were broke, please up our budget!".
Zero fucks given when a propaganda mill goes broke.
Maybe secondary education is finally pricing itself out of the market?
Secondary education = high school.
Which is also mostly a waste of time and taxpayer money. Warehousing adolescents and calling it education is a really bad idea.
Those with the ability and the motivation to master something more than simple arithmetic and basic literacy can easily be identified by 8th grade. For everyone who can't or won't, there should be national service (which doesn't have to be military). Learning to use a broom, learning to show up on time and put in a full day's work, learning how to take pride in whatever task you're assigned -- these are experiences that build character and put you on the road to a better future. The alternative is a failed state filled with whining, skateboard-riding, tatooed punks looking to game what remains of the "entitlement" system.
Good riddance to all of the bloated land-grant diploma mills like LSU and the corrupt values they propagate.
Spoken like a real fascist. Hitler and Mussolini and Bush and Obama would be proud.
Does LSU serve the people and show this?
http://showrealhist.com/RealDow.gif
Dow _ _ _,000....
Let's get on with it already.
Who gives a fuck? Can anyone in the white trash states of Louisiana, Mississippi and Alabama even read? They all have retard level IQs. I would use them for testing nuclear weapons on their cretin populations.
I'll bet you they won't be cuttin' the welfare for all your black beauties livin' on the state's dime in those so-called white trash states.
http://quickfacts.census.gov/qfd/states/22000.html
http://quickfacts.census.gov/qfd/states/28000.html
http://quickfacts.census.gov/qfd/states/01000.html
Double and triple the national average!!!
Then, there's the prison population.
http://upload.wikimedia.org/wikipedia/commons/thumb/3/32/USA_2009._Perce...
http://www.nola.com/crime/index.ssf/2012/05/louisiana_is_the_worlds_pris...
From this article; ^^^
About 5,000 black men from New Orleans are doing state prison time, compared with 400 white men from the city.
La, Miss and Ala have the 1st, 2nd & 4th highest incarceration rates in the US.
They should go back to whipping them instead of shooting them. Seemed to get their attention without causing as much fuss.
Unlike the liberal trash that populates socialist shitholes like Mass., Conn., NY, etc. Amazing how many of these northern liberal assholes make their way South after they retire with their government pensions, polluting local communities down here with their bullshit ideas on how to spend more of someone else's money.
Fuck you, asshole.
Yeah white trash, like the guys who build these things with hard work? You must be one of the geniuses that went to a NE "university" and had parents pay for some worthless arts degree but daddy had a contact so you shuffle papers and suck dick at some financial firm.
I'm not sure, can any of the super smart lady boys in the northeast do math?
Maybe start by firing 90% of administrative staff and closing any department with the word "studies" in its name ....
LSU's bankruptcy is a result of plunging oil tax revenue? Looks like every cloud has a silver lining!
"State cuts to higher education have sent tuition soaring across the U.S."
Really? Tough shit you whining high paid asshole! These SOB's at Universities really piss me off, they don't give a flying fuck about the taxpayer. They sit on property tax free land that is paid for by the taxpyer, and all the hell they ever want is more!
Well fuck-off you money grubing assholes, your sorry ass should go broke, or take a fucking pay cut and figure it out like the rest of us.
Fuck this "higher" learning bullshit, half or more of the little pricks in College should not even be there! To fucking stupid!
Forget "higher learning". The purpose seems now to be "continued conditioning". Faculties that are overwhelmingly progressive are perfect for turning college students into brainwashed supporters of the fascist state.
Yep.
I remember well how, during one of my advanced genetics courses in biochemistry (20 yrs ago), the sick 'professor' at one point used fucking hypnosis during class, to 'explain' how incest is actually, apparently NOT a genetic problem for the offspring, scientifically speaking!
Very impressively, what the guy managed to do was to make (seemingly) everyone blank out during his explanation (as students are wont to do during a long lecture), only to then wake up with the conclusion and the student's natural fear that the part that was missed might be on the exam!
So as a result, most of us (including myself) were left confused and thinking that there really IS some cogent argument that can be made in this direction, only we missed it.
Some might think this was all by accident, but take another look at how organized the incestuous pedophile illuminati networks are, and also look at how much they invest into what they call "social engineering" towards satanism, and the true purpose of these 'learning centers' becomes all too apparent.
So yeah. FUCK LSU and the rest. Only fools go to college now - especially for things like comp. sci., that you can far better learn on your own!
Crap man don't hold back why don't you say what you *really* feel
All I know is this: I'm just glad I ain't gonna grow no tits and a pussy like Bruce Jenner. That is all................
You deserve 200 points. Great job.
My question to Bruce Jenner is > Are you sure you want to be a woman? As a man, you do realize the world is your URINAL!
"what - you went to college the get stupid...?
Sonny Corleone
Moody's... how do they still exist?
Is that rhetorical?
Time to clsoe down about 50% of the Universities. Football, Cheerleading, Basketball and crap can be shut down, programs which are a waste of money
According to Valerie Strauss writing in the Washington Post newspaper ALEC (American Legislative Exchange Council) is an organization that writes model laws for state legislators. According to Strauss, “What it actually is is an organization that writes “model legislation” ...that... legislators use in state after state to make new laws that promote privatization in every part of American life: education, health care, the environment, voting rights, etc. “ and “its efforts to privatize public education, for example, have resulted in the expansion of voucher programs in a number of states. “ The purpose of the voucher systems, like the one pushed through by Louisiana Governor Jindal, is to gut public education institutions in order to produce profits at private for-profit schools and for their corporate owners.
What is ALEC? Summarizing information that is readily available, ALEC is an organization funded by large corporations which meets to produce legislation favorable to the profit making interest (voracious greed) of large corporations. ALEC is corporations dictating legislation to its legislative and gubernatorial dupes. It is corporate fascism at the level of the state instead of the nation. It is voraciously greedy corporations trying to wring the last drop of profits from the citizenry by undermining state institutions and regulations.
ALEC has an education task force that represents for-profit higher education corporations. If Louisiana's (and other states') system of public higher education is gutted, then private, for-profit online colleges and universities stand to make higher and higher profits. This anti-public-higher-education task force dictates to state legislators, from Alaska, Arizona, Arkansas, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.
According to Robert Mann, who has a great deal of experience in journalism and politics in Louisiana and who holds the Manship Chair in Journalism at the Louisiana State University (LSU) Manship School of Mass Communication, writing at his blog bobmannblog.com, “(Louisiana Governor Bobby) Jindal...is a committed ALEC disciple...(and) received a prominent award for his adherence to ALEC's principles.”
One of ALEC's principles is cutting taxes. Especially on corporations who run the show. No taxes, more profits. Jindal cut taxes so much for his corporate dictators that Louisiana can no longer afford a system of higher education. LSU, and it's statewide system of universities, is about to declare bankruptcy. Gutting Louisiana's and other state's public higher education institutions will increase profits at for-profit colleges and universities and reap profits from students and their families who will have to pay through their noses. Students and their families will pay (in higher fees for education) the taxes that Jindal exempted his corporate dictators from paying.
I'll take a "for profit" school run by "greedy corporations" any day over the absolute sham that is the overpriced, bloated, elitist, modern-day university. Let the well-run schools survive and the poorly-run schools fold.
+100
But all universities are anti-white Cultural Marxist indoctrination centres living off the endowments provided by the 'dead White men' they so despise.
They've already turned the prisons into money rackets.
http://www.nola.com/crime/index.ssf/2012/05/louisiana_is_the_worlds_pris...
http://www.google.com/url?q=http://www.teaching-point.net/pma_09.2003_Co...
They have been silently rewriting history. Randall & and fuck shit publisher. Take a look.
They should just raise football ticket prices and require the athletic department to actually throw some money back to the school. But most importantly, they should just let the oil and gas industry pay the full cost of their propaganda machine called LSU academic departments instead of -again -- getting tax subsidies.
During college football they can offer hooker services with Incoming Freshman to earn credits.
Neoliberalism at its finest: starve public institutions to the point of dysfunction, scream "Look! It's not working!"and then privatize the once public-services to your coronies and pals. Same shit most everywhere. Paid trolls and useful idiots cheerleading the banksters and VC all the way...
Agree.
The unholy alliance of right wing libertarian philosophy ("Let the market decide!") and actual financial capital power ("I AM THE MARKET, I WILL DECIDE!") puts every public cent under the microscope.
Let's privatize the water supply and the road system and pubic parks, so that these big players like the Walton's and Goldman can really own everything! At least they're not the Government, right?
haha "pubic parks". not editing that one.
Privatise the air. If you want to breathe you have to rent some air. Likewise for sunshine. Goldman could erect a huge screen over the USA and only open shutters for those below who pay the sunshine rent.
No different from land. Nobody made air, sunshine or land. But a greedy minority have grabbed most of the land and everybody else else has to pay them rent.
Most people do not even realise they are paying rent to the minority. Most businesses rent their premises and this rent is taken out of the business profits long before it gets into anyone's pay packets.
USA used to be the land of the free when land was freely available. But now the majority of it is owned by the minority and they are collecting the rent. And they acquire more and more land until everyone else is paying rent, and the majority have effectively become the minority's slaves.
Why should I, the taxpayer support degrees that offer no hope for employment to grow our country? What is considered needed, or important has lost all meaning. Education is a liberal employment program.
If one wants to enrich themselves personally with Women's, you name it, degrees, pay for it yourself.
Regarding faculty, we are at one for one Administrator to Professor, and professor's don't teach anymore, students teach. Plus, what we pay for these professor's are incredibly out of whack to their worth, to me. The corporations who fund the research should pay, or if I am funding the research, make me a shareholder, so I have upside.
Ripe for the reaper.
Only STEM should attract public funding support. Everything else. sicial 'sciences', the various 'studies', literature etc. are just lifestyle choices payable in full by the attendees.
Hey man, I earned my History degree in 2003 and couldn't be more happy about it. I live in San Francisco and am surrounded by STEM graduates who could care less about the world as long as they are earning their 6 figures and they can ride their Razor scooter to "work" wearing an anime costume. We need more liberal arts majors, not less.
Fair enough. But without the technology and productvity of the STEM guys you'd be reading history by candle-light on parchment. And not all STEM guys are nerds. Moi, for example!
I have to agree with "Archive" a bit here...not that Iwould say we need MORE lib arts degrees, but I've seen enough "STEM" worship on here to make me puke. I love how everyone just embraces this elitist central education planning term while at the same time cliaiming to hate everything those central planners do. Kind of an awkward place to be it seemes to me.
Why would you support "STEM" fields? All that technology goes to the connected corporatists...you know that? So you're paying for their future monopolies...congrats! And all the while they can funnel the "grant dollars" to the projects that will best enslave you...double kick in the nuts to ya!!!
No, in the end, the revolutionaries that we admire weren't scientists...they were philosophers. That didn't mean they didn't understand the value of hard work (which "college" too often discourages these days), but they were readers...and they read the ideas of others past and present and thought about who was dictating their futures and how...and why they should be putting up with it?
As for tenured faculty...tenure is and has always been a way to limit competition in education. It's funny the idiot in this article thinks that saying FIRING THEM will really upset the public...LOLOL. Just shows how detached these people are...and I know personally, many many (not all though0 are VERY detached from reality and society.
Go after their pensions...that's where the real larcerny took place...but that's just a government worker larceny thing that university employess were one part of. Will the STEM students create a better guillotine? I doubt they care who their masters are unfortunately as long as people keep patting them on the heads and telling them just how super duper they are for being the best...THE SYSTEM HAS TO OFFER.
I agree on the pensions and the fact that tenure means the freedom to do absolutely nothing if you so desire. And that's just what a lot of faculty do.
My point really was that STEM graduates go on to invent and produce things and their degrees are pretty much required for that. Liberal arts are great but in themselves don't produce anything. Why should the tax of a working guy go towards funding what is in effect a lifestyle choice? If you want to study history please do. But not on my dime.
Given the dreadfulness of curricula on offer at most universities, I wonder that anyone still bothers to go. To do it under a pile of impossible debt only proves that a college education makes you stupid. I won't miss the government schools when they're gone. I only wish the private Ivy League schools, like Harvard, would go too. The public schools are terrible, the Ivy League is a vortex of evil.
So they dispute the claim that their LSU Trust was invested in Real Estate or a Zombie Hedge Fund in 2008???
I heard lots of Ivy League Universities pull most of Trust into Zombie Hedge Funds (WSJ or NYT).
Universities have fucked themselves one big glory hole and the reality is they're not the number one priority for rebuilding an economy. Wal Mart has a huge vault where they store all the unneeded and unused diplomas. What a fucking farce our education system has become due to greed greed greed.
Ha ! LMFAO, The fix is baked in & all the Demo-CRAPS & Re-BLOODlicans & Congress phoney 2 party polemic farce can go Choke on a Bag of Dicks. I said this a few years back as I could see the velocity of money & TVM to keep the HUGE operating budgets in the Black. Sports programs etc. Higher Education system all at risk not too mention seriously, whom is going to send their kids to the USA now for a POS education system w/ all the dysfunctional Libturds teaching their drivel, revisonist historical lies & drama Bravo Sierra....
They won't even teach the dreaded helgelian Dialectic / False Flag / Black Swan Events / Crisisi Initiation as a topicEpic Fail & handwriting on the wall. Sep / oct timeline for the NHTF (Nukes to Hit The Fan)....
When does the Nazi / Farenheit 451book burning begin ?
"Sea Change" coming bigger than most realize.
The stoopid it burns still...
huh?
"Tenured faculty will be fired."
:|
If that happens I'll go to my grave happy. Especially if they're from the Social 'Sciences'.
STEM...STEM...STEMYSTEMYSTEMSTEM!!!! Did i mention STEM? I LOVE STEM...
DeVry unveils turnaround plan as profit falls 15%
23 April 2015, by Tess Stynes (MarketWatch)
http://www.marketwatch.com/story/devry-unveils-turnaround-plan-as-profit-falls-15-2015-04-23
I went to Faber College and shacked up in Animal House. It was well worth the price of admission.
These fucking universities pay three or four times the going private sector rate for their generally poor quality high-level administrators (deans, chancellors, vice-chancellors, assorted VPs).
Not one of those admin fucks will get the ax.
Now that is a fact. They all think they're brilliant but not one in ten could hack it in the private sector.
(apparently being bankrupt counts as "stable")
In the mad mad Orwellian world of the rating agencies it does.
Just to add insult to injury (not that these higher-ed wonks are injured), but I ran across a story about Arizona State offering a $45/class fee for ANYONE to take a "freshman year" online curriculum which is 100% transferable for credit.
The kicker is you don't pay unless you pass the class and get credit.
So basically for $6,000 you can earn 24 transferable units and be a freshman at ASU.
College is still such a medieval institution.
Just like all the H1-B mania to trivialize the undergrad major (or was the major that was first trivialized?), these mega tech companies HR departments will set the pace to debased the 4 (5) year move-away-from-home degree and set a path to massive online courses geared to the Chinese and Indian STEM folks.
Its been slow coming and you still need universities to be basic science factories, but for the other 90% of "college graduates" reading and writing at home at your own pace only to have your work graded by a robot is the future for the masses.
The idea that between mom, dad, grandma and Uncle Sugar that a 4 year degree leads to a coffee barista degree on top of $125,000 in expensive overhead can survive in the face of massive online classes if frightful.
Cut ALL State Funding of Universities starting with the HUGE HIDDEN state contribution to the so-called ELITE at Harvard, Yale and the rest of the silver spoon dummy tit privileged parasitic crony nepotistic inbred Societies/ Institutions ( including and in particular grants/ free money to MIC surrogates ).
After ALL these slime continue to SQUEEZE the tax-payer right through to Phd and prior to a cushy non contributory post in Government, Federal Reserve, SPYNET or other blood sucking leach Enterprise/ Don't Think Tank.
Come to California where debt is our middle name, debt is a status symbol here, and we give out $50,000 in free debt to all new residents.
$1.6 billion debt, hah! Governor Moonbeam can create that much debt any day before lunch.
GEAUXING BROKE!!!!!
They probly want all students to get employed..
in Flesh Trade
I mean
the oldest profession