Jon Fansmith: Hello,
and welcome to dotEDU, the higher education policy podcast from the
American Council on Education. A little later in the episode, we'll be
joined by Dr. Colin Diver, who is the former president of Reed College,
and currently the Charles A. Heimbold, Jr. Professor of Law and
Economics Emeritus at the University of Pennsylvania.
Dr. Diver is going to join us to talk about his brand new book, Breaking Ranks: How the Rankings Industry Rules Higher Education and What to Do About It,
which I will recommend to listeners right up front is a great and
really interesting book, that I think even higher ed people who spend
all the time thinking about the policy can learn a few things from.
But
before we get to Dr. Diver, I am joined as always by my amazing
co-host, Sarah Spreitzer and Mushtaq Gunja. How are you both doing?
Sarah Spreitzer: Hey, Jon.
Mushtaq Gunja:
Hi Sarah, Hi Jon. Doing well, thanks for asking. The book is good, not
just for our traditional audience, but I think there's some good little
nuggets in there for prospective college applicants, too. So if you've
got somebody in your life that's about to apply for college, like my
nephew, I'm definitely passing this book on to that family, so it'll be a
fun conversation.
Jon Fansmith: I'm also sending it to my nephew, so we've got that in common, Mushtaq.
Mushtaq Gunja: I wonder if it's the same nephew. That would be weird.
Jon Fansmith: I would love to find out we're related. That would make me so happy.
Mushtaq Gunja: We're all related, Jon.
Sarah Spreitzer:
Even better, why don't you guys bookend it with Beth Aker's book, and
the podcast that we did on the economics of choosing your major. You
could send them a copy of this podcast, a copy of the podcast with Beth,
copies of both the books. I'm sure they would really appreciate it.
Jon Fansmith:
They might appreciate the books. I've tried to get my nephew to listen
to my podcast, so far unsuccessfully, but the books I'm sure he'd
appreciate.
Mushtaq Gunja: So, big news in
Washington this week, or late last week, Friday of last week. The
Supreme Court issued its long-awaited, I guess, decision on Roe.
Sarah Spreitzer: I was just going to say, I don't know if it was long-awaited, Mushtaq. You're referring to the decision on Roe, overturning Roe v. Wade, in the Dobbs case.
I don't know, I thought it was pretty surprising, but that's obviously
taking up a lot of the conversations in Washington, DC. But you're a
lawyer, you watch the Supreme Court pretty closely. What did you think?
Mushtaq Gunja:
I
don't practice, and didn't practice, constitutional law. I haven't
thought about the right to privacy, Fourth Amendment, Fifth, Sixth
Amendment, Ninth Amendment issues super closely in the last few years.
But like all Americans, I think, have been thinking about Roe, abortion, for years.
Look,
the decision is striking in a lot of ways. The court did not need to do
what the court did. I think in most circumstances, the court decides
the issue that's in front of it. The issue in front of the court was
this Mississippi 15-week abortion ban. The court had six votes to uphold
that ban, and could easily have done that without overturning Roe v. Wade.
Roe v. Wade
was not exactly an issue that needed to be tackled, but at least five
justices decided to do it anyway, which I think makes me really worry a
little bit about how this court is going to approach precedent and
approach the traditional narrowness of the ways in which court
jurisprudence is developed. Usually, the court has taken small steps,
incremental steps over time, when they make monumental decisions. They
just didn't do that here. Jon and Sarah, I wonder how that struck you?
Sarah Spreitzer:
It seems to me, when I look to see, to think what's going to happen in a
month, six months, a year from now, it seems like it's going to be a
lot of chaos, because obviously the court threw it back to the states to
say all the individual states are going to decide. But we are the
United States of America, so you can easily travel between states, or
you're still part of the United States.
So, I think a lot of our
institutions, it was interesting, because I know some institutions put
out statements. I think many of them are thinking the place where our
institution is, is that going to impact us? Are students going to decide
not to go to college because we're in a certain state that's going to
take a different stance than, say, the state next door?
For our
state institutions, how is that going to impact them? How is it going to
impact the training of medical students at our institutions? I think
all of that, we're just going to have to wait to see how it plays out. I
think it will result in a lot more court cases.
Jon Fansmith:
Yeah, that seems inevitable, and that we'll go state by state. We talk
about this a lot at ACE, that a single federal policy, and clearly in a
lot of cases states were putting different restrictions in place so
there was no universal policy, but without any kind of certainty around
the rights that individuals will have on our campuses, and how that may
change state by state, it complicates greatly, I think, how institutions
will react.
I was struck, Sarah, when Mushtaq said "The
long-awaited," and you kind of responded. I had the same feeling, this I
think took a lot of people by surprise. They didn't have to go as far
as they have. Frankly, the court has generally tended to side with
tighter and tighter restrictions, but not overturning the fundamental
right, so I think a lot of people were caught off guard.
It
certainly seems the reaction we're getting from our members is, we don't
know where this takes us, we don't know. Does this mean we need to
start thinking more about the kinds of care you offer pregnant students
or parenting students? These are things that we just don't know at this
point, because for 50 years this has been settled law of the land, and
we're in this very, very different world right now.
I'll say, the
other thing which struck me, and I know we've talked about this a little
bit internally, there's a political dynamic to this too. This is a
court decision. Obviously with the structure of the court, it's not that
the court will overturn this precedent that they've established anytime
soon, but we have been talking for months about a Republican blowout in
the midterm elections. We are going to start seeing some polling,
you've already seen some hints of it, that this has really energized and
galvanized Democratic voters. There are now some pundits who are
predicting that this may boost a majority in the Senate, that maybe this
isn't enough to stop a Republican takeover of the House. But with the
momentum, the fundraising, the activity, you might see if it switches,
the margins closing, getting smaller and smaller.
So, this has an
impact, and I think rightly we started with the health and safety of
women and others, but it's also in our world going to have some
implications as to what we might see happening in Congress next year.
Was it Chuck Schumer? Somebody said if they have sufficient votes,
they'll overturn the filibuster to pass an abortion rights bill. I
thought I just saw that today.
Sarah Spreitzer:
Yeah, I think more and more senators are calling for doing away with the
filibuster in light of this decision. But I also found it, I don't know
if ironic is the right word, but obviously it was decided the day after
the 50th anniversary of Title IX. The biggest news of last week before
the Roe decision was that the Department of Education had actually
released some information about the long-awaited Title IX regs.
Jon Fansmith:
Yeah, and they did. As you mentioned, they released it on the 50th
anniversary of Title IX being signed into law. It's been interesting
because I think a lot of the attention, a lot of the focus, has been on
the fact that in these rules, the administration has aligned the rules
around equitable treatment between genders with the president's
executive order, particularly as it relates to trans and non-binary
individuals, according them the same protection under Title IX as other
sexual orientations or gender identities, adding that.
Again, a
lot of that focus has been on that, but the sexual assault regulations
themselves continue to be a huge and challenging and complicated issue
for campuses. With the guidance the Obama administration put out through
the Trump administration's new regulations on sexual assault to these
now regulations, in a relatively short period of time we've seen three
very dramatic swings in how campuses are instructed to handle cases of
sexual assault and harassment. That, by themselves, would be a momentous
act with huge repercussions for campuses. You add to it this already
stirring controversy, particularly as we talk about this at the state
level where anti-trans bills have been passed in some places, it's going
to be even more controversial than usual.
I think, again, it's a
difficult environment for campuses because there's no clear precedence
here. There's no settled, "We understand that this is this, so we can do
that." It's a really chaotic situation right now. I think we at ACE,
and certainly our members, are still trying to process what's in those
rules, how that applies to their campus, what it allows them to do.
Certainly
some things we're very happy to see in there move away from these
mandated courtroom-like procedures that the Trump administration had put
in. But still, as you pointed out, a 700-page reg, huge implications
for institutions, a lot to work through and figure out. I know we're
going to be doing a lot of that here at DC, we'll have some updates on
that too, but we know our institutions are doing that at the same time.
Mushtaq Gunja:
Well, I'm glad that we have such a great team that will be diving into
those 700 pages so that I don't have to do it myself and make sense of
all of the work in there.
Combining these two topics, the politics
of all of this, I think, really make me think that the tenor of the
midterms really could be a little bit different. Inflation, of course,
is high, pocketbook issues have been really foremost in people's minds,
but three months is a lifetime in American politics.
I'm just so
curious about what is going to happen, especially because, Sarah, Jon,
you both referenced abortion going back to the states, and sure, that's
what the court's sort of first ruling is. I also very much think that
there's a possibility that, what is it, HR1 of a unified Republican
Congress may well be a national abortion ban.
I think, at the
least, I would assume basically every Republican who's running for
federal office is going to have to ask where they might stand, in ways
that they've been able to duck for decades. So, I'm really curious about
whether all of our politics are about to get, well, a little bit less
steady and a little bit less predictable.
Sarah Spreitzer:
Which, I was going to say, Jon, of course leaves them with plenty of
time to do their regular order of business, like appropriations and
finishing things up before they leave town for the midterms.
Jon Fansmith:
I will say, on that point, kudos to the House appropriators. The rest
of the House is on recess for the next two weeks, they're off. The
appropriators are plugging along. They're doing markups this week, they
are moving their bills, so it's at least, in my experience, pretty
uncommon, especially around a break that's as big as the July 4th break,
to see an entire committee stay in and work its way through, but it's
welcome certainly, to see that commitment.
The process is always
delayed the last few years, it's delayed again this year, so the
appropriators taking the opportunity when their colleagues are out
campaigning to get in there and finish their business. Again, we've
talked about this, whatever the House does is going to be the high water
mark for us. The Senate, who knows? The process itself twists and
turns, takes longer than it should. Again, kudos to people for working
through everybody else's vacation.
Mushtaq Gunja: Kudos to Congress.
Jon Fansmith: Rare we can say that, right.
Mushtaq Gunja: Anyway.
Jon Fansmith:
Well, and another subject to give kudos to is Dr. Colin Diver's book,
which we will be talking about with him right after the break.
Welcome back, we are joined by Dr. Colin Diver, who is the author of Breaking Ranks: How the Rankings Industry Rules Higher Education and What to Do About It. Very much wanted to welcome you to our show, Colin, and thank you for joining us today.
Colin Diver: It's a great pleasure for me to do that, thank you.
Jon Fansmith:
I gave the title of your new book, but I thought maybe this would be a
good opportunity for our listeners, if you could talk a little bit about
what motivated you to write this book in the first place?
Colin Diver:
Okay. For 10 years as a law school dean, and 12 years as a college
trustee, I lived under the thumb of the ranking system. I became
intimately familiar with all of its foibles and its failures. Then I had
the distinct pleasure for 10 years to be president of a college, namely
Reed College in Portland, Oregon, which had publicly and rather proudly
proclaimed its freedom from ranking, and it renounced rankings. I had
the experience of knowing what it was like to be liberated from
rankings.
So, when I was invited to write about this, I snapped at
the chance and said, "Yes, I think I have a lot to say." I
fundamentally believe that rankings have distorted, if not to say
corrupted, higher education, and I deeply believe in the mission of
higher education, so that's why I wrote the book.
Jon Fansmith:
One of the things that struck me as I was reading it was, I went into
it thinking this would be about the ranking systems, the U.S. News & World Reports.
There's certainly plenty to talk about, and you cover that from a lot
of great angles. But you dive really deeply into so many facets of
higher education, and I think tie it back together to how these are all
interlinked. Can you talk a little bit more about, why such a broad view
of higher education, when specifically the focus was initially about
rankings?
Colin Diver: Very good question, and
it's an astute observation, I think, about the book. I view rankings as a
window into higher education. So I'm not simply interested in the
phenomenon of rankings, I'm interested in what rankings have done to
higher education, and what are good ways and what are bad ways of
assessing and evaluating institutions of higher education. So, that
really is the focus of the book. In that sense, it's a very
comprehensive look at the rankings phenomenon.
Mushtaq Gunja: I'm sure that most of our listeners, Colin, are familiar at least to some extent with at least the U.S. News & World Report
rankings. I know you spend quite a bit of time in the book going
through what comprises the rankings, what the methodology is, especially
of U.S. News. I wonder if it might be useful for our listeners
to get a little bit of a breakdown of what the methodology is, and what
especially the U.S. News & World Report rankings cover.
Colin Diver: Well, my primary focus in the book is what I call best college rankings, which is what most people are familiar with and what U.S. News
is, I think, the prominent example of. That is an attempt to take all
of the immense variety of institutional characteristics and reduce them
to a single metric, a single template, that then gets imposed on all
these different hundreds of institutions. As a result of which, they get
ranked ordinally from one to 400 or 600 or 800.
That's the
primary target, but there are other specialized rankings that look more
at a single sector. For example, there's rankings of historically Black
colleges, there's rankings of Catholic colleges, there's rankings of
women's colleges. There's also rankings based on single characteristics.
There are rankings based on student ethnic diversity, for example, or
social mobility. I try to cover all of those, but my primary target is
the most influential form of rankings, which is the best college
rankings.
What the best college rankings do, let's use U.S. News
as the example since it is the 800-pound gorilla here, they take 17
different factors that are quantifiable and quantitative, and they
choose those 17 out of the hundreds that they could choose. Then they
assign equally arbitrary weights to each of those, combine them
mathematically into a single score, and then they rank schools by
inverse relation to their scores. So, the school that gets a score of
100 comes in first, and so it goes all the way down, as I say in the
case of national universities, to 391.
That is, I think, utterly
preposterous. It's preposterous, not only because it's fundamentally
arbitrary and it's not justified by any scientific or scholarly
demonstrations, but also because it's a straitjacket that in effect
imposes uniformity on the enormously varied, wonderfully varied
landscape of American higher education.
I think it's a little bit
like saying we're going to rank all foods from best to worst. Well,
number seven is pizza, and number eight is apples, and number nine is
beef bourguignon. Well, that would be seen as absurd. Frankly, to come
up as Wall Street Journal does, for example, with a ranking
that says number 54 is the University of Florida, and number 55 is Mount
Holyoke College is, to me, equally absurd. Those are two schools that
are in completely different universes, and yet the rankers have sort of
shoved them into a single template.
Frankly, if my hypothetical
ranking of foods was as influential as the college rankings are, you can
bet that pizza would start tasting a lot like apples, and apples would
start tasting a lot like beef bourguignon.
Mushtaq Gunja:
One of the things I learned from reading the book was the problem sort
of compounds itself, because it's not just quantitative measures that
we're looking at, but part of what comprises at least some of these
rankings is some peer rankings, so that apples are being asked what's a
better fruit, apples or beef bourguignon, and that seems problematic
from a whole range of views. I know you had quite a bit to say about
that portion of the rankings, at least on U.S. News & World Report. I wonder if you wanted to say anything more about that here?
Colin Diver: Yeah. U.S. News
gives a lot of weight to what it calls peer assessment. In 2022, it
gave 20% of the total weight in its formula to the cumulative opinions
of college presidents and deans that they surveyed.
As I tried to
explain in some detail, having been both a dean and a college president,
you're not going to ever know enough about more than a handful of your
so-called peers to be able to confidently assign them a rating on a
scale of one to five that reflects their true overall academic quality.
You'll know some things about many of these schools, but you won't know
nearly enough to be able to say that the University of Florida is
academically stronger than Mount Holyoke College.
Frankly, when
you ask people to do that and they actually do it, what they're doing is
they're echoing the previous year's rankings, because the one thing
that we all know about the comparative quality of hundreds of schools is
how they were ranked last year. Scholars have shown over and over that
this is an echo chamber, so I think that's the fundamental problem with
these peer evaluations.
Wall Street Journal also uses
peer evaluations, and then there are a number of rankings that use
student evaluations, which suffer from their own problems.
Sarah Spreitzer:
Yeah, it's funny, I think working in higher education, the number one
question I always get from family members when they find out that I'm in
higher ed, they say, "Is this a good school, or is that a good school?"
When I start talking about the different aspects and the difference,
you can't really compare Ohio State to, say, Miami University of Ohio.
They're structured differently, they offer different things to their
students.
It always comes back to this ranking system. It seems to
have this hold on the consumer, that that's what they're going to look
at. So, I think within higher education, there's this agreement that the
rankings, that it really is this jumble of random things. It doesn't
actually reflect whether or not it's going to be a good fit for a
specific student.
Since you've published your book, Colin, have
you seen any institutions besides Reed, maybe more selective
institutions, move away from the ranking system? I found it fascinating,
that even though Reed didn't participate, U.S. News still continued to rank you. So, even if selective colleges move away from it, U.S. News will still rank them. Have you seen this conversation move forward at all, especially among the selective institutions?
Colin Diver:
Well, the book just came out in April of this year, so it's much too
soon to talk about the impact of the book itself. I have seen in recent
years, some movement in what I call the right direction. The percentage
of presidents and deans who fill out the peer evaluation of the other
institutions in their category has declined steadily over time. At one
time, it was around 60% of the respondents who responded, and now it's
down to about 33%.
I take that as a good sign. It means that a lot
of these schools are recognizing that this is just a popularity
contest, it's a beauty contest, it's silly. The refusal to cooperate by
failing to send in the statistical questionnaire that U.S. News administers is a different story. At this point, only about 15% of schools refuse to do that.
Unfortunately, most of those are schools that are ranked down at the bottom of the U.S. News
rankings, so it is still the case that the top tier schools, even while
their presidents and deans publicly criticize the rankings left and
right, are still filling out the forms and still cooperating with them.
All I can do is preach and hope that some people in the audience will
get my message.
Jon Fansmith: It's interesting,
because I am struck by what Sarah said, because I've had the same
conversations. My niece applied a couple years ago to college, my nephew
is in that process now, and they ask the same way, "Is this a good
school? Is this a better school than that school?"
Again, I
encourage our listeners to go out and get a copy of the book and read
it, it does a really, I think, thorough takedown of how really
artificial and contrived these rankings are, but there's a clear demand
for it, too. There's a clear interest, and it's a huge important
purchase in people's lives. It's four years, when we're talking about
selective institutions. People want to know more, they want to be
informed as they make that choice.
When you look at the higher
education landscape, given your breadth and depth of experience, do you
see where an alternative might emerge that might knock the sort of
ridiculous system that we've built up and that has been built up out of
the way, and replace with something that's more meaningful or more
valuable to students, or at least more helpful, maybe?
Colin Diver:
Yeah. Well, as I say in the book, I don't believe any single system of
evaluation is appropriate precisely for the reasons I stated earlier,
which is, the genius of American higher education is the institutional
variety that we have. So, my hope over the years has been that at least
the U.S. News monopoly will cease to dominate, and that there
will be a multiplicity of rankings using different methodologies, and
getting at least a decent amount of traction.
That has happened. U.S. News
was the monopolist, it still is by the way in law schools, which is a
part of my history, and I talk about it a lot in the book. I think one
of the reasons why law students are slavishly attracted to the U.S. News law school rankings, and therefore the law schools are slavishly attracted to improving their rankings, is because U.S. News has a monopoly. Fortunately, in colleges and universities, you also have multiple individual best college rankings, Wall Street Journal, Forbes, Money, Niche, et cetera, but you also have all these specialized rankings.
My
advice to applicants is, don't start by asking, “What is the best
college?” Start by asking, who am I, and what is it that I love and
want? What is it that I'm looking for in a four-year experience, if
we're talking about a four year college, which is frankly what we're
talking about in the rankings universe. Then, sure, turn to the
rankings, but ignore the numbers and look at the information, and try to
figure out what is a good fit for you.
Look at multiple rankings, don't just look at U.S. News. In fact, start with The Washington Monthly,
which is an oddball kind of ranking because they're trying to rank
based on what the college does for the community, which is very
different from the obvious prestige and wealth focus of U.S. News, and for that matter several of the others I mentioned.
Then
look at the US Department of Education's College Scorecard, which has
wonderful information, and you can pick out what information interests
you and you can do your own comparisons. All these websites allow you to
compare schools based on your criteria.
So, there's a ton of
things you can do, but the one thing I really would love to communicate
is picking a college is not simple and it shouldn't be simple. It is a
big, messy, complicated decision. It's on the order of what career
should I choose, or should I buy this old house or that old house? Or
maybe even, what life partner should I choose? It's a big, tough,
complicated decision, and you shouldn't try to simplify it, and that's
what rankings do. They lure you into thinking you can simplify what
shouldn't be simplified.
Mushtaq Gunja: Colin,
since you are handing out advice, I was hoping that you might be able to
give us some as well. As you know, ACE has recently partnered with the
Carnegie Foundation for the Advancement of Teaching to have the Carnegie
Classification system sort of reside here at ACE, at least for the next
few years.
Part of the project will be to create a new social and
economic mobility classification that will sit alongside the basic
classification. As we are putting this together, do you have advice for
me, for the team, for how we might think about putting this
classification together? Things that we should be concerned about as we
think through fairly grouping and then describing the great diversity of
higher education in this country?
Colin Diver:
Well, as you know from the book, social mobility is, to me, the primary
goal of higher education. It is not just to perpetuate privilege. It is
in effect to provide a ladder, to provide an opportunity for people who
have been disadvantaged for any number of reasons. It may be their race
or their ethnicity, it may be their socioeconomic background, it may be
their ability or disability.
So, there are, of course,
well-established, now, measures of social mobility. I think Raj Chetty
and his researchers at Harvard's Opportunity Insights have kind of
pioneered this research. But I think that the method should, obviously
like their method, focus on two variables. One is the number or the
percentage of low income students that a school admits. Then, secondly,
how successfully they move them up the economic ladder. That is, how
successfully they get them to graduate on time and how successfully they
steer them into successful careers.
I hate to use money as the
only measure of successful careers, and that's maybe one of the things
that you might want to look at. There are ways of measuring career
satisfaction, as well as career earnings, but you have to give credit to
schools that do both well. They admit lots of low income students and
they move them up to successful lives.
Those are the schools that
should get a high classification. I realize it's going to be a
subsidiary classification, and the Carnegie Classifications that matter
the most will still be research one, for example, which everybody now
sees as a symbol of prestige, but the more prominence you can give to
social mobility, I think the better it will be.
Mushtaq Gunja:
That’s very helpful. We’re hoping that the social mobility
classification will not be subsidiary, each institution will have both a
basic classification and a social and economic mobility classification.
Sure, one has been around for 50 years, so might at least in the first
instance have a little bit more cachet in the world. But over time,
certainly we're hoping that we'll be able to have that other
classification matter a whole lot too, and we'll need your help, Colin.
Colin Diver:
I'd be glad to help. I do think that there is a momentum now among the
selective colleges and universities to increase their social mobility,
and God bless them. When I was on the board at Amherst College, the then
president, Tony Marks, made it a big priority to increase social
mobility at Amherst, and with a good deal of success. Frankly, I think
he inspired a lot of other schools, dare I say even Williams College,
their primary competitor, to follow suit. I'd love to see Princeton and
Harvard and Yale and Stanford say, "We are going to take the lead on
social mobility." I bet it would produce a parade of virtue.
Sarah Spreitzer: So, Colin, I know Breaking Ranks
just came out in April, but is that the topic of your next book? Are
you starting to think already, what's the next thing to look at in this
very rich area of higher education, looking at the rankings?
Colin Diver:
Well, there are two things that are on my mind, one is the vast ecology
of non-selective, or not very selective, colleges and universities,
which I just didn't speak to in this book because the rankings don't
really speak to them.
Rankings are relevant only to about 400 to
800 four-year schools, and that leaves something like over 3000
four-year schools, which do much of the most important work in our
higher education industry. They educate so many of the students of
color, and the poor, and lower class and socioeconomically deprived, and
academically challenged kids, and the older students with families to
take care of. So I would love to see what we can say about how they can
stand up and be counted in a world which is so totally dominated by a
handful of super elite schools.
Then, the other thing, which is a
little bit related, is that I'm really curious to know if there is any
way that we could combine elitism and a high degree of selectivity with a
high degree of social mobility. How would we go about constructing a
set of schools and moving a group of schools, so that there was the
equivalent of the Ivy League? Maybe it would include some members of the
Ivy League. But they would not only be the great reinforcers of
privilege in our society, which is what they still are, but they would
be the great engines of social mobility and still be regarded as the
best schools in the land. I would love to see a way for that to happen.
It could be done, I suppose, if you had a few multi-billionaires who
wanted to create such a school by giving them an endowment of $100
billion or something. But short of that, I'd like to try to figure out
how to do that.
Jon Fansmith: I think that would
be certainly something we would be keeping an eye out for, because I
know at least at ACE we have those conversations all the time, about how
do you incentivize institutions to take on a larger share of low-income
students? You covered this in the book, the percentage of low income
students at selective institutions. Go ahead, I'm sorry.
Colin Diver:
A very big problem that I talk about, and that stands in the way of
that, is the hypercompetitive nature of higher education. Like it or
not, and the antitrust laws favor this, it is a hypercompetitive
industry, so all these colleges at the top have an incentive to spend
more per student.
They don't have an incentive to educate more
students. I talk in there about what I think the top schools are really
competing on is surplus. That is, the difference between the amount they
spend per student and the amount they charge per student. If you look
at that surplus figure, it has quadrupled in the last 20, 30 years.
Amherst
and Williams are now spending $100,000 per year per student just on the
educational program. That doesn't include room and board type expenses.
$100,000 per year. Even for full pay students, they're only being
charged $60,000, so they're all getting a huge subsidy, a huge subsidy.
Why, in America, do we want to have a gigantic subsidy given to the
children of millionaires? But that's what we have. I'd like to see if we
could turn that around somehow.
Jon Fansmith:
That would be a wonderful thing to do. I will say, I read those numbers
to my wife as I was reading your book, and she demanded to actually see
the book, because she didn't believe me. So, it is a staggering,
staggering number, and thank you for raising that point.
Colin Diver: Yeah.
Jon Fansmith:
I also wanted to thank you for taking the time to join us today. I
cannot again say highly enough to our listeners, this is a really
fascinating book. If you'll forgive me, it is not dense academic text.
This is a very approachable book, and it covers a huge range of things
that we care about in the higher education space in a really succinct,
and I think, very thoughtful way. So, I want to thank you first for
putting the book together, but especially for joining us here today.
Colin Diver: Well, my pleasure, and I hope you're right. Let's get people to read my book.
Jon Fansmith: We'll do our best, and we'll keep an eye out for those next projects, too.
Colin Diver: Okay.
Sarah Spreitzer:
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