A meltdown is coming to the higher education sector, billionaire computer magnate and NBA Dallas Mavericks owner Mark Cuban warned in a blog post on May 13, U.S. News reports. With education costs that rise each year, a hungry market of students plied with easy-to-get loans, and little incentive for colleges to make meaningful changes, the arena is ripe for a major shakeup, the entrepreneur writes.
“Like the real estate industry, prices will rise until the market revolts. Then it will be too late,” Cuban blogged. “Students will stop taking out the loans traditional Universities expect them to. And when they do tuition will come down.”
Without their usual influx of funds, universities will have to cut costs “beyond what they are able to… which will all lead to a de-levering and a de-stabilization of the University system as we know it,” he writes. But what about those students who are considering college now? As it turns out, the Indiana University–Bloomington graduate and self-made billionaire also has some tips for them to make smart decisions, despite the current higher ed environment…
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