The American Family

Family dynamics in the US are changing fast. As much as it becomes tedious from time to time to witness the share of media space taken by "the Boomer Generation", there is absolutely no denying its power and influence over the US economy, both in business and in home economics.

A recent article published by USA Today showed figures that are changing dramatically, given the aging Boomer population and their children. As their kids head to college, the % of children under 18 living at home has hit its lowest point (46%) in half a century.

This has as much to do with the journey of the Boomer generation into older age...and the corresponding aging of their kids as it does with other trends happenning in other generations. Gen X, for example put more women on a path for richly-rewarding careers, but also for later starts of motherhood - at it could be argued, more deliberate and slow-paced starts of families.

The recent article also pointed out some startling figures for home dynamics and also showed that this country still has dramatic differences between races. An obvious statement, but these figures are shocking. 85% of Asian families have 2 parents at home and 78% of white families have 2 parents at home. This contrasts with 38% of African American families.

Will we see more scholarship on family demographics in the coming decade - these seismic shifts are profound. This article points out that we need to be sensitive to not only the most macro developments, but also to the developments within key population segments.

Can a Kid Get to College?

I thought it was tough to get into college back in 1991. For kids who are in the thick of the college admissions process in 2009, the reality is much tougher. There are tremendous pressures on both sides of the student/institution relationship.

On one hand, the college/university is dealing with plummeting endowments thanks to the market meltdowns. On the other hand, the applicant is dealing with family circumstances strained by the same meltdown, plus record numbers in the applicant pools.

I am encouraged by steps that colleges are making to help. I have read newsletters of dramatic cost-savings steps of many institutions, and am very proud of my alma mater, Vassar College, which has a need-blind admissions policy and which continues to put great emphasis on funding financial aid. This has actually made it one of the best values in the nation for liberal arts colleges.

As in business, schools must continue to make tough choices, focus on value, and provide in the best ways that they can for their customers. This is more critical than ever when our nation needs to give its young people access to the finest educations possible.