Huge respect for Dr Christensen of course but this is ... not correcthttps://twitter.com/kinggary/status/931130140553342981 …
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That's basically what it is for the bottom 50% (not counting cheap-but-ok community colleges). Gov backing all student loans means they're always available regardless of return. We give billions in loans we know won't be repaid, they go directly to bad schools.
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Is there a cap to tuition for colleges that want to qualify for student loans? Can I charge $500K in tuition a year?
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Yeah that's the one caveat to my statement- it's totally possible that I'm just grossly underestimating the number of colleges that are essentially loan scrapers and nothing else.
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No cap. But increased scrutiny happens if you get too too bad, though about 1 of 4,000 schools/yr ever really run into regulatory issues. The real competition is user acquisition of ppl dumb enough to sign away 50k/semester for a bad student loan. That's limited.
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And, of course, the vast vast majority are somewhere in between. Not egregiously bad, but suboptimal. Another problem: the people taking the worst loans are the people you'd least like to attend your institution.
End of conversation
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