Impact of the Economy on Education

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Education is severely impacted by the economy, although much of the effects go through Government Budgets first.  Because so much of the nation’s educational system is subsidized by the government, any drop in tax revenue means that governments at all levels are going to be under a great deal of pressure to cut costs, and education is an easy (albeit massively short-sighted) way to cut down on bills.  One of the positive effects of a downturn in the economy is that people who lose their jobs often turn to education as a way to get ahead after the downturn is over – although this is increasingly becoming a dangerous gamble because of the rising cost of education.

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