I just heard the news Everest College is closing its doors, locking out 2,400 students. The National Association of Career Colleges shut their doors. The college could not sustain itself and may well go bankrupt.
My immediate thoughts are. The college could not and cannot compete with government sponsored, and government favored colleges. One example is the government sponsored and tax supported salaries of already established colleges. Any publicly supported college or university necessarily has this edge over colleges that are private. It was just a matter of time until the private college lost enough money to either trim back its salaries, then marketing operations, materials, then space.
The economic principle is this. Anything that is beyond and above market trade is un-affordable and eventually unsustainable. The market works.
Closing Everest is proof other existing colleges and universities in Ontario are fat, and only seemingly prosperous. They are in fact, under nourished in education and profits, so must be sustained by government encouragement and tax dollars from various sources. However, in the long run nothing that must feed of tax-payers is affordable.
The only solution for a healthy and progressive (in the proper sense of the word) education system is to have all colleges and universities in Ontario to be free from government subsidies and closed door favors.
This way, professors, educators, and instructors will remain in an education system that is sustainable as a market remains healthy are free of government interference or worse, government “help.” Salaries in a private market will be paid for education value, not taxes forced out of pockets of students and tax payers for unrealistic propagandistic education.