What might be the effects of the credit crisis on education?. Sorry of this seems overly negative but sometimes you can only prepare for the future if you try to imagine it. Here’s my list in no particular order:
1. More pupils may come into the state education system from the independent sector – some independent schools may face closure;
2. More males may sign up for entry into the profession as it might appear to offer more job security than other private sector work.
3. More entries to the profession from those who have been made redundant in the financial and other sectors.
4. Teachers may feel under greater stress due to financial pressures, leading to absence and other related consequences.
5. Education may suffer from more industrial action in support of pay increases.
6. More school leavers may take gap years to raise money for their university education.
7. Fewer students may enter university education due to financial concerns.
8. More students may enter university as a way of delaying the need for employment for a few years.
9. Banks may be less inclined to engage in the provision of student loans.
10. Students might stay on longer at school to avoid entering a depressed employment market.
11. More children will walk, cycle or take public transport to schools as opposed to being driven by their parents.
12. A reduction in foreign trips offered by schools
13. Reduction in the number of students wanting to learn a trade, e.g. joinery, due to the depressed building industry.
14. Worsening of student behaviour in school as they are negatively affected by stress at home and a reduction in the level of material goods they have come to expect.
15. School closures
16. State schools might have less to spend on education if their grant from the government were reduced – in a worst case scenario this would have wide ranging impact on the way we can deliver education – these effects might include:
- More reliance upon virtual learning environments;
- School mergers;
- Reduction in the length of the school week;
Any other suggestions?
PS Check out the meltdown scenario in this OECD document