The globalization process hasn't run full course. Globalization introduces geographic competition into the workforce. Some regions will have more favorable cost structures for providing goods and services than others. The net effect is displaced workers in industrialized nations (e.g. the US) or anemic growth rates (e.g Japan.) Displaced workers must be retrained. Public institutions have structural problems providing these services (e.g. specific mandates on courses provided etc.) Private education (e.g. APOL) is the the education system of the US. Loan losses are an exaggerated business risk.