Those wondering what effects that the next recession will have on university education need only look to the November 2010 student riots that took place in London in regards to the British Coalition government making cuts to the education budget for a prime example. When money is not readily available, it is only natural that university education will suffer, and the lives of those affected could also drastically change. With the world currently nearing yet another financial crisis, the education world could be in for a huge change in regards to university.
Recession will leave people struggling for money just as it has proved to do so in the past. Those who may have thought not so long ago that money is a regular occurrence and is not something to worry about will likely be proved wrong. Happy, family businesses will become bankrupt, hundreds of thousands will again find themselves jobless and the world once again will be driven by money woes. What does this mean for university education exactly? In many cases, it will simply be out of the question. The parents of students will be unable to pay for university education and students themselves will likely be unwilling to take out student loans due to the vast amount of debt they will find themselves in for years to come.
Of course, the recession could potentially even benefit university education in several ways. There are students out there that attend university just for the sake of it as a means of having something to do. These students have no idea what they want to do with their lives and are wasting time. They fill up university places, potentially voiding people that actually have aspirations to progress following university. It is these students that will be filtered out. If budgets and costs are cut and money is an issue, only students that truly want to attend university will attend whereas those that attend to waste time will not pay for it. This could quite easily benefit universities and the quality of individuals that attend it.
Change happens in every circumstance for better or for worse and the only thing that matters is trying to deal with it and remain optimistic. The world is going to enter a new recession regardless and therefore, it is important to consider the effects it could have on university education. Many individuals sadly will be unable to attend university due to not being able to afford it or because they are unwilling to get into debt, whereas from the point of view of the university, only quality students that are looking to progress and make a career from their educational studies will apply. The effects of the recession on university education truly are a multi-layered. It is a subject that could both benefit and hinder the lives of countless individuals all over the world.