The Prof G Pod with Scott Galloway Bonus Episode: Town Hall on Higher Education
Aug 9, 2020
Anastasia Crosswhite, former associate dean at NYU Stern, Zakia Smith-Ellis, New Jersey's Chief Policy Advisor, and Bob Shireman, Director of Higher Ed Excellence, delve into the pressing challenges facing higher education today. They tackle the widening inequality in access to elite schools, the shift toward online learning, and issues surrounding institutional funding. The panel discusses the importance of innovative solutions to ensure educational accessibility while addressing financial aid deficiencies for middle-income families. Insightful perspectives are shared on redefining the value of education in a post-pandemic world.
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Ivy League as a Luxury Brand
- The Ivy League, with only 64,000 students, acts more like a luxury brand than a widely accessible education system.
- It primarily serves the wealthy elite, exacerbating the existing caste system in higher education.
The Exploding Cost of College
- Administrative costs in higher education have exploded while state and federal funding has declined, leading to tuition hikes.
- This creates financial insecurity for families as college costs surpass their value, becoming a 'Hyundai certification' at a 'Mercedes' price.
Universities as Streaming Platforms
- With the shift to online learning, universities are becoming expensive streaming platforms.
- Scott Galloway argues that they offer less value compared to platforms like Harvard, which costs $50,000 annually.