Studious

Studious

A blog from SoloPortfolio about content marketing.

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Real Value of a College Education

October 23, 2008

This post has nothing to do with marketing nor entrepreneurship… but rather about the best piece of journalism I’ve read in a long time. Speaks about the debt load of kids leaving college—and their unbelievable lack of preparedness.

Colleges are quick to argue that a college education is more about enlightenment than employment. That may be the biggest deception of all. Often there is a Grand Canyon of difference between the reality and what higher-education institutions, especially research ones, tout in their viewbooks and on their Web sites. Colleges and universities are businesses, and students are a cost item, while research is a profit center. As a result, many institutions tend to educate students in the cheapest way possible: large lecture classes, with necessary small classes staffed by rock-bottom-cost graduate students. … Ernest L. Boyer, the late president of the Carnegie Foundation for the Advancement of Teaching, used to say that winning the campus teaching award was the kiss of death when it came to tenure. So, no surprise, in the latest annual national survey of freshmen conducted by the Higher Education Research Institute at the University of California at Los Angeles, 44.6 percent said they were not satisfied with the quality of instruction they received. Imagine if that many people were dissatisfied with a brand of car: It would quickly go off the market. Colleges should be held to a much higher standard, as a higher education costs so much more, requires years of time, and has so much potential impact on your life.

A 2006 study supported by the Pew Charitable Trusts found that 50 percent of college seniors scored below “proficient” levels on a test that required them to do such basic tasks as understand the arguments of newspaper editorials or compare credit-card offers. Almost 20 percent of seniors had only basic quantitative skills. The students could not estimate if their car had enough gas to get to the gas station.

Colleges should be held at least as accountable as tire companies are. When some Firestone tires were believed to be defective, government investigations, combined with news-media scrutiny, led to higher tire-safety standards. Yet year after year, colleges and universities turn out millions of defective products: students who drop out or graduate with far too little benefit for the time and money spent. Not only do colleges escape punishment, but they are rewarded with taxpayer-financed student grants and loans, which allow them to raise their tuitions even more.

Maybe the dream of college will go the same route as the dream of homeownership?

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