There’s almost nothing good to say about the for-profit education industry, as this pithy account makes clear. Senate hearings on the government shakedown scheme are ongoing.
There’s almost nothing good to say about the for-profit education industry, as this pithy account makes clear. Senate hearings on the government shakedown scheme are ongoing.
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July 30th, 2010 at 11:31AM
I think the only way out of this mess is the same one that should have been employed in the case of the subprimes: allowing lenders to rate risk of default more accurately. Statistics about what people make post-college, and for what majors, are readily available. (You could also use SAT scores, or high school GPA.) Using this information to assign interest rates or decide who gets loans and who doesn’t would not only destroy the University of Phoenix, but it would discourage people from pursuing other forms of ridiculousness in the more traditional programs, too (cf. “film studies,” the customary major for those who don’t actually want to be in college at all).