> As demand for vanity diplomas from expensive liberal-arts schools declines, for example, elite universities with more prestigious names and larger endowments can simply increase advertising for their lower-tier programs that accept nearly all applicants—under their official brand. Faculty will continue capitulating to administrators’ demands for lighter workloads and lower standards until the average graduate’s career preparedness hits rock bottom. The federal government will expand tuition handouts into a full-scale free college system, until nearly every young American receives his or her meaningless diploma. It’s easy for the higher education industry to avoid economic consequences. Unfortunately, this bubble won’t pop until somebody pops it.
The article claims that USA colleges are not a "bubble" in a "market", but rather a license to print money. So long as the US Government backs financial aid loans, colleges can can extend a diploma - and a bill - to an increasing number of students.
The conservative view is that, like other fiat public education, commoditization renders meaningless that which is supposed to be a credential, a record of training and demonstrated ability. If everyone gets a college diploma as a government handout, then in effect no one gets an actual certificate of merit, but rather an expensive certificate of participation.
Perhaps a liberal (US politics liberal) view would be that education is a path to address the current effects of past injustices. A way to close the gap between the most and least wealthy citizens. That it's incumbent upon the educational institutions to ensure that every student indeed has equal access to meaningful college education.
I don't know how to resolve these two ideas. They are not contradictory: both "sides" of this can be correct at the same time.
Perhaps one way would be for the government to set a cap on the price of a college education. Nightmare scenario? Colleges are very expensive institutions.
The article claims that USA colleges are not a "bubble" in a "market", but rather a license to print money. So long as the US Government backs financial aid loans, colleges can can extend a diploma - and a bill - to an increasing number of students.
The conservative view is that, like other fiat public education, commoditization renders meaningless that which is supposed to be a credential, a record of training and demonstrated ability. If everyone gets a college diploma as a government handout, then in effect no one gets an actual certificate of merit, but rather an expensive certificate of participation.
Perhaps a liberal (US politics liberal) view would be that education is a path to address the current effects of past injustices. A way to close the gap between the most and least wealthy citizens. That it's incumbent upon the educational institutions to ensure that every student indeed has equal access to meaningful college education.
I don't know how to resolve these two ideas. They are not contradictory: both "sides" of this can be correct at the same time.
Perhaps one way would be for the government to set a cap on the price of a college education. Nightmare scenario? Colleges are very expensive institutions.