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The existence of information asymmetry isn't per se the problem, no, of course not. But it's not a red herring to mention if we can look at the world and see th
by ajkjk 10y ago
The existence of information asymmetry isn't per se the problem, no, of course not. But it's not a red herring to mention if we can look at the world and see the information asymmetry doing active harm, which I think most commenters here would agree with. The opinion that large numbers of for-profit schools are convincing people to give them money and then providing almost nothing useful in return is so widespread now that I'd assume it to be everyone's default unless they specifically mention otherwise.
- nickff 10y agoI would agree that "[t]he opinion that large numbers of... schools are convincing people to give them money and then providing almost nothing useful in return is so widespread now that I'd assume it to be everyone's default unless they specifically mention otherwise." According to the signalling theory of education and the opinion of many commenters here, a great deal (possibly a strong majority) of post-secondary education is a complete waste of time and money. It's not that I think these schools are providing useless experience and knowledge, I just think the non-profits are doing about the same.
- dangerlibrary 10y agoGraduation rates at non profit schools are appalling. University of Pheonix routinely graduates less than 20% of its students within six years. Even if all of the benefit is signaling, which I disagree with, the students at many for profit institutions aren't even getting that benefit.
- nickff 10y agoMany state colleges have low 6 year graduation rates too (as they vary widely), should they be shut down too? Is there any reason 25% or 30% are unacceptable, but 50% is fine?[1] [1] http://collegecompletion.chronicle.com/ http://collegecompletion.chronicle.com/
- makomk 10y agoA 50% graduation rate is literally double a 25% graduation rate. You're arguing that the only reason for the US government to care about the fact that students at for-profit institutions are half as likely to graduate is because they've got a grudge against them, as though this is some minor difference that no-one should care about.
- ajkjk 10y agoAnd, sure, a 50% graduation rate at a state college is a big problem that should be investigated as well. But it's definitely not true that "all of the state colleges" have this problem, whereas it (as least seems to be) ubiquitous among for-profit schools.
- tmptmp 10y ago>>Graduation rates at non profit schools are appalling. University of Pheonix routinely graduates less than 20% of its students within six years. I am talking about both (for and not-for profit) universities. Isn't graduation a responsibility of a student too? If a student is not graduating, isn't there a chance that he/she is not sufficiently working for it? or If a student is not graduating, isn't there a chance that he/she does not have what it takes to learn a subject? The students should do a little bit of homework before joining any university: does the university seem suitable for me? do I seem suitable for the university? do I think I am capable of handling the study work? what is the quality of the faculty? what the almuni are saying about this university? what the other academics are saying about this university? If a student cannot or will not do this little bit of homework, then I guess he/she deserves to be surprised (may get a good surprise if lucky else bad surprise).