That’s right - places like Stanford, the Ivy League are just ‘big businesses’ - STOP DONATING $$$ to these places. They already have too much money - enough to employ 10k bureaucrats- STOP DONATING now.
And most of the money isn't coming from the students anymore. It comes from the federal government in the form of loans to the students (which the students are on the hook for, but which the school gets up front regardless of educational outcome) and research grants. They also have huge endowments which mitigate the need to take in funds every year in the form of tuition. With a 4% acceptance rate, they also have a lot more kids to go through when they toss out the ones they no longer have use for.
It's a weird situation where the educational systems don't actually need the students to get the money. And they certainly don't need to actually provide those students with an education. Totally messed up incentives.
“They don’t really care about your kid. . . “
It’s about the money, period.
My exact thought when I read that.
That’s right - places like Stanford, the Ivy League are just ‘big businesses’ - STOP DONATING $$$ to these places. They already have too much money - enough to employ 10k bureaucrats- STOP DONATING now.
And most of the money isn't coming from the students anymore. It comes from the federal government in the form of loans to the students (which the students are on the hook for, but which the school gets up front regardless of educational outcome) and research grants. They also have huge endowments which mitigate the need to take in funds every year in the form of tuition. With a 4% acceptance rate, they also have a lot more kids to go through when they toss out the ones they no longer have use for.
The DIEvy League is fully demoralized: https://yuribezmenov.substack.com/p/how-to-get-into-harvard-part-3
It's a weird situation where the educational systems don't actually need the students to get the money. And they certainly don't need to actually provide those students with an education. Totally messed up incentives.
Everything government touches turns to crap.
Exactly!