Is Our Students Learning? (EdSector Archive)
9 August 2006 | by Kevin Carey
Imagine you're about to put a chunk of your life savings into a mutual fund. Now imagine you peruse the various "best mutual fund" guides on the news rack, only to find they're all missing crucial pieces of information. The guides list where the fund managers went to college, how much investment capital they've attracted, and what kind of "experience" investors had at the annual fund meeting. But they don't tell you what you most want to know: What the funds' rates of return have been--or if they've ever made a dime for anyone. You might still decide to invest in a mutual fund, but it would be a heck of a crapshoot. And with their scorecard hidden, fund managers wouldn't be under much pressure to perform, let alone improve.
That imaginary mutual-fund market pretty much shows how America's higher-education market works. Each year prospective college students and their parents pore over glossy brochures and phone-book-sized college guides in order to decide how to invest their hard-earned tuition money--not to mention four years of their lives. Some guides, like the popular rankings published by U.S. News & World Report, base ratings on factors like alumni giving, faculty salaries, and freshman SAT scores. Others identify the top "party schools," most beautiful campuses, and most palatial dorms...
Read the entire article in The Washington Monthly's annual college rankings package.