I saw two stories in the New York Times this weekend about how a prolonged recession might affect children and teenagers — one about how it could shape their ambitions and values in the long-term, as the Great Depression did for those born in the 1920s, and another about how the economy has complicated the college admissions process (for colleges).
Looking for a silver lining? Here’s what the Times story had to say about what some are calling “a students’ market” in college admissions:
Colleges have been in the catbird seat for the past decade or so. As the number of high school students swelled, applications rose, allowing colleges to be more selective. And families benefiting from a flush stock market seemed willing to pay whatever tuition colleges charged.
But all that has changed. For students, the uncertainty could be good news: colleges will admit more students, offer more generous financial aid, and, in some cases, send acceptance letters a few weeks earlier. Then again, it could prolong the agony: some institutions say they will rely more on their waiting lists. But there is no question, admissions officers say, that this year is more of a students’ market.
What are your predictions? High school families: Have you experienced this so-called students’ market?