Students, colleges, and taxpayers all deserve better.
In our current system of higher education, we pay for what we get. Because the government underwrites significant portions of the higher-education system, it means that students and families are not the only “customers” of colleges. Taxpayers are as well.
There’s a saying in efficient markets for goods and services: The customer is always right. What they demand is ultimately met. If Apple doesn’t offer an iPhone that delivers value, customers look elsewhere, and Apple has a choice: improve or wither.
In higher education, what the government — and therefore the taxpayer — is paying for is enrollment of students. Not employment. Not learning. Not life outcomes.
Now combine that with four realities:…