I sat in amazement and dread yesterday as I watched the DOW close down a record 777 points – all because the House rejected the Bailout plan. Although I believe that the markets need an infusion of capital, I also see the need to carefully evaluate all options. However, that evaluation process needs to be quick and thorough. And, of course, the underlying and unanswered question that resides deep in my “gut” is why should the taxpayers be responsible for bailing out Wall Street’s excesses relating to mortgage backed securities?
With the Presidential election being just a few weeks away, I have to say that watching the first debate last week was not a real uplifting event either. Neither candidate, in my opinion, stepped up nor did they specifically address the bailout questions. Clearly, this is a time where there is so much uncertainty that we need leaders with vision and the fortitude to execute on that vision.
Now – how will the past several days affect the adult learner who wants to, or is, studying online? If there is not an infusion of capital into the markets and the credit crunch expands, online students looking to borrow money for school will be negatively impacted. I just can’t see how we can get around it. There will be a “trickle-down” effect from this latest fiasco. Combine that with what has happened to the student loan market in recent months with legislative changes enacted by Congress which have sent many lenders fleeing from the federal student loan programs and you have a recipe for more trouble.
Online schools and students alike need to prepare for the worse if we remain in this legislative deadlock. There can be feasible alternatives if those of us in the online edu space plan carefully. Remember – proper planning prevents poor performance.
