re: Barack Obama cracks down on for-profit colleges: Why do it this way?

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But, a school like NYU should be thinking of its reputation. It's ostensibly not a racket, and it should take some pride in the careers of its students.

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I'm sure they do take pride in the careers of their students. Also, situations like this don't affect NYU's reputation, IMO. They did absolutely nothing wrong. They are simply thriving in an environment that is favorable to their current system.

What should they have done differently? Should NYU charge students more if they have a statistically higher paying major?

The thing is, people who choose these majors can't claim ignorance. We all know what the eventual financial output of certain careers are.

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One solution could be to require these schools to be on the hook when a certain percent of their former students (graduates and non graduates) default on their student loans. This should have the effect of killing off the for-profit scams and leaving the "reputable" colleges to take a closer look at preparing and counseling their students properly.

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You aren't thinking that position completely through, although I wouldn't mind the outcome of that situation.

What would actually happen is, these colleges would more than likely discard those majors which don't result in sufficient financial returns. As a business, it would be too risky to continue otherwise.

Why take the risk of offering a women's studies course if those who graduate in that field will more than likely be unable to pay for tuition? The risks outweigh the benefits.