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I love this idea, but perhaps these kinds of financing should be offered by university endowments or by government funds? In fact, it might be useful to replace

I love this idea, but perhaps these kinds of financing should be offered by university endowments or by government funds? In fact, it might be useful to replace student loans with this mechanism to align long-term incentives of universities & their students. This sort of financing might also lead to a better understanding of what sort of programs are effective. I could see financing being available for particular programs. Arts would probably suffer. That said, I think humanities might get a renewed interest -- those who can communicate effectively and solve problems are the bedrock of traditional business. Private investors? There are lots of things that work great with private capital -- I'm skeptical that financing education is one of them.

barry-cotter 8y ago
Yeah, let’s prop up the government and hedge funds with attached research arms. We should ignore the private companies that are already using ISAs, like Lambda School, to help people get job training to change their lives for the better and just assume that not for profits and the government will do things right because they have only the purest motives. That worked out so well for the taxpayers and citizens of the US with student loans, and for the students. Giving universities another legal massive legal advantage over alternative means of education is a great idea. That couldn’t possibly go wrong. Sarcasm aside ISAs are not a terribly new idea and universities have tried and failed with them before, Yale and Purdue, in part because no one in universities really cares about getting it right. If you don’t get paid more if you do well and don’t get fired if it’s a catastrophe your motivation is reasonably limited. ISAs do need regulation but just presuming non profits and the government will do it right out of the goodness of their hearts... It’s ignorant.
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- fjp 8y ago
  GP saying that it should be offered by the university because then if the university fails to produce a population of students that can make money in the job market, they will suffer. It's an alignment of incentives much like how some people say colleges should be penalized or on the hook for having a high percentage of students that default on student loans. It would supposedly incentivize schools not to just charge students $300k for an education that gets does not prepare them for the job market. Personally I think over-aligning these incentives and making college into a machine to make you a profitable worker sounds brutally dystopian, but something has to change about the current world.

barry-cotter 8y ago

Yeah, let’s prop up the government and hedge funds with attached research arms. We should ignore the private companies that are already using ISAs, like Lambda School, to help people get job training to change their lives for the better and just assume that not for profits and the government will do things right because they have only the purest motives. That worked out so well for the taxpayers and citizens of the US with student loans, and for the students. Giving universities another legal massive legal advantage over alternative means of education is a great idea. That couldn’t possibly go wrong. Sarcasm aside ISAs are not a terribly new idea and universities have tried and failed with them before, Yale and Purdue, in part because no one in universities really cares about getting it right. If you don’t get paid more if you do well and don’t get fired if it’s a catastrophe your motivation is reasonably limited. ISAs do need regulation but just presuming non profits and the government will do it right out of the goodness of their hearts... It’s ignorant.

deleted 8y ago
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deleted 8y ago
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fjp 8y ago
GP saying that it should be offered by the university because then if the university fails to produce a population of students that can make money in the job market, they will suffer. It's an alignment of incentives much like how some people say colleges should be penalized or on the hook for having a high percentage of students that default on student loans. It would supposedly incentivize schools not to just charge students $300k for an education that gets does not prepare them for the job market. Personally I think over-aligning these incentives and making college into a machine to make you a profitable worker sounds brutally dystopian, but something has to change about the current world.