11. Tuition at any Ivy League school is pretty much a rounding error no one cares about. Endowments are all that matters.
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12. Think for profit universities are bad? They’re worse than you think. Almost no matter how little you think of them they manage to be worse than that
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13. There are dozens of careers that are a 100% employment guarantee. There are dozens of careers where <50% get jobs. Everyone knows what those are on a university faculty, but no one does anything about it because universities don’t see it as their role to get you a job
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14. Universities and colleges that achieve accreditation (the kind that matters) are incredibly locked in as to what they teach, how long they teach it, and what requirements are
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15. Code bootcamps know they don’t prepare programmers very well for the job market, but they can’t lengthen their programs because then they’d have to increase the prices they charge accordingly, and the market disappears at 2x bootcamp prices
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16. There are many, many code bootcamps with <25% hiring rate that do millions of dollars per year in revenue by promising jobs
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17. People rely mainly on their parents for advice on what to do about education, and that has to be among the worst places to go for educational advice
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18. Economically we vastly undervalue education. A $10k swing in income when you’re 20 yrs old is actually worth $400k+ over your lifetime, but we’re (rightfully) skeptical of the returns
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19. We really have no way to measure how much universities help because there’s so much selection bias involved. E.g. what if you took all the people that got accepted to Stanford or Harvard and had them all go to the same community college? Or different schools? We don’t know.
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Replying to @AustenAllred
Have you dug into the literature on this topic? Lots of smart people take selection bias into account in a quantitative approach, and it doesn't look good. See
@bryan_caplan'shttps://www.amazon.com/Case-against-Education-System-Waste/dp/0691174652 …1 reply 0 retweets 2 likes
Ya, great book. I would love to see how awkward it is for Caplan in the faculty lounge now lol
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