Painting all colleges and universities with the same broad-brush criticism is unwise and unfair
It is easy to get swept in the college bashing so prevalent today. Led by Washington decision makers, universities are portrayed as bastions of liberal faculty and echelons of administrators who often add little to the core educational purpose of an institution. This is true. However, university faculty are, overall, more liberal than the average American. But almost universally, their interest in teaching is driven by the desire to instill in students the ability to reason, to think on their own, and recognize biased information regardless of the source.
Those who castigate colleges and universities for producing young liberals should not forget the immortal words of Winston Churchill, attributed to have said, “If you are not a liberal when you are twenty-five, you do not have a heart. If you are not conservative when you are thirty-five, you don’t have a brain.”
While all colleges and universities have been singled out for distain, the “Ivy’s” have received the brunt of the condemnations, often echoed by graduates of these prestigious schools. President Trump himself is an Ivy graduate. Often citing immense and un-taxed endowment earnings, the implication is that all institutions are subject to the same criticism. Of course nothing could be further from the truth. The vast majority of college students in the U.S. are enrolled at either regional public institutions or private colleges/universities. Net of financial aid and scholarship offered at private institutions, the total cost of attending either a public or private institution is surprisingly similar.
Price alone should not be the determining factor in what college to attend. Obviously, institutions are of different sizes, and some students will do better at a smaller college than at a larger one. But since price is a critical issue, when analyzing which college to attend, it is important to look at several other factors. First, how long does it take to get a baccalaureate degree at an institution? The U.S. Department of Education tracks the length of time to complete an undergraduate degree. The Department reports that the four-year graduation rate for a private college is 53% while at a public university the average graduation rate is 33%. It is not only the cost per year that a prospective student should consider, but also the number of years that he/she is paying for tuition, room and board, etc. that matters, and the income forgone during those extra years in school.
Another indicator essential to the decision-making process of college choice should be the return on investment, (ROI) a graduate receives. One effective way to measure the relative ROI is to look at the default rate on college loans. The substantial number of graduates who have defaulted on their student loans is one of the sticking points often echoed by higher education critics, and rightly so. To renege on a loan is a good indicator of the income earning capability of a recent graduate. A high “default rate” suggests that the degree might not have been as effective in the graduate’s ability to find a good-paying job. The Department of Education publishes default rates for colleges annually. Private institutions, despite having a higher list price for attendance, have a much lower default rate.
President Trump has intimated that colleges should be responsible for the bad student loan repayments. This is an interesting concept which can have both intended and unintended consequences. On the positive side, colleges should have a personal stake in making sure they are offering courses of study that lead to a good paying career. Further, the annual public release of the institutions that graduate debt scofflaws would help those deciding upon a college to ferret out institutions which produce graduates incapable of paying off their debts. The downside is that placing student debt figures on an institution’s balance sheet might significantly diminish college’s ability to raise bond financing, thereby increasing costs with at least some of those costs reflected in future tuition increases.
Beating up on all colleges for real and perceived indiscretions is a popular pastime right now. However, painting all colleges and universities with the same broad-brush criticism is unwise and unfair. Many, like Misericordia University, have relatively high graduation rates, low student loan default rates and graduate mostly politically moderate, diligent people with values that mirror the communities in which they live.
Michael A. MacDowell is president emeritus of Misericordia University. He lives in Estero.
