Gainful Employment and Education

Courtesy of College Insurrection and Instapundit, NBCNews has a story about student loans held my college drop-outs.

The article discusses a number of victims, but this one stood out:

Drew Scott, 26, registered for the for-profit Art Institute to study video game arts because he was attracted to the accelerated program.

“I didn’t completely understand what I was getting into,” he said. “I knew it was more expensive, but at the time, I thought, ‘they wouldn’t be charging more if it wasn’t better, right?’”

After two years of uneven teaching quality—“some of the teachers didn’t quite know what they were doing”—Scott concluded he wasn’t getting his money’s worth. He left the program earlier this year, owing $30,000 to the government and $15,000 to his parents. Scott now lives in Seattle and makes $11 an hour working part-time at a game-testing job. “I definitely didn’t need to go to school” to do this job, he said.

For profit-colleges have poor “optionality.” Instead of providing good opportunities with little danger, they provide mediocre opportunities with higher danger. The Department of Education’s new “Gainful Employment” is a first start, but it is took weak. The “gainful employment” rule should apply to all institutions that receive student loans.

wages_employment_majors_humanities_ghetto_mdA degree in the humanities ghetto from a Big State University or a private religious college is just as worthless as a degree in “game design” from the “Art Institute.”

We don’t know what the future holds. We need an educational system that makes learners resilient, even if the world changes. Our test scores are stagnant, our tests are broken, and top-down efforts can’t be the whole solution.

seattle_ghost_ramps_blocked

We need to close the road to dead-end non-bankruptable debt. We need a “gainful employment” rule to apply to all colleges and universities. We need to track graduates, to to the PhD level. The Department of Education’s new rules are a good start. But more needs to be done.

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