… It also has to overcome the same legitimate concerns about how to assess quality of a product offered by largely untested companies. Skeptics are right to note that many, perhaps most, of the online education providers out there won’t survive the decade—competition is intense, the technologies are new and changing rapidly, and not everyone can be a winner. Someone will be the Pets.com of the ed-tech boom. That prospect is alarming to the traditional school bureaucracy, which tends to make contracts with vendors that span years or decades. They’re not set up to contract with firms offering services for a monthly fee that can be canceled at any time. And parents are rightly concerned about the long-term value of a degree from Pets.edu.
In a perfect world, both online learning and charter schools would only be imposed on our children after rigorous testing and screening to be assured of their efficacy. But in the real world, repeated unproven “innovations” are inflicted on students – No Child Left Behind being one of the latest examples. So it is inevitable that some lucky students will continue to reap the benefits from the best of education’s innovations (think Amazon) and some unfortunate ones will suffer from the worst (think Pets.com).
U.S. students who’d taken personal finance or money management courses weren’t more financially savvy than those who hadn’t, according to a study by the Jump$tart Coalition for Personal Financial Literacy.
Maybe innumeracy is part of the problem, and schools should focus more on better math education.
New York State requires some personal finance instruction as part of its Economics, the Enterprise System, and Finance, a half-semester high school course taken senior year. It uses course content from the Jumpstart Coalition for Personal Financial Literacy.
The college enrollment rate — the share of recent U.S. high-school graduates enrolling in college or a university in the same year — dropped in 2012 to 66.2%, the lowest level since 2006, the Labor Department said in a report on Wednesday. For 2012 graduates, the rate dropped for both men and women, to 61.3% from 64.6% in 2011, and 71.3% from 72.3%, respectively.
The findings suggest some high-school graduates are becoming more confident about their job prospects after years of hiding out by going to college. When the economy sank into recession between 2007 and 2009, the college enrollment rate rose steadily to a record high of 70.1%. The implosion of America’s construction industry, for example, meant fewer jobs for young men looking for work right out of high school. Now it appears some of these young graduates are going on the job market again.
Of course, finding a job isn’t that much easier. America’s job-market recovery remains uneven: The unemployment rate is still unusually high at 7.6%, and the economy added only 88,000 jobs last month — the weakest job gains since June 2012.
Perhaps the rising cost of higher education is a factor.