This is why places like general assembly and dev bootcamp are so popular -> much greater ROI than university granted degrees
Every once in a while, education policy squeezes its way onto President Obamas public agenda, as it did in during last months State of the Union address. Lately, two issues have grabbed his (and just about everyone elses) attention: early-childhood education and access to college. But while these scholastic bookends…
Only about 10 percent of the money that’s spent on institutions of higher education actually goes to educating students, according to Robert Samuels, president of the American Federation of Teachers at the University of California.
The rest goes to athletic programs, hospitals, medical schools, industrial and government research and other programs not related to instruction.
Subconscious Mind Power
How Children Succeed: Grit, Curiosity, and the Hidden Power of Character
Quoting the original article in the Economist:
"Less selective institutions are close substitutes for MOOCs. Course content is often standardised and interaction with professors is limited in order to keep costs down.
…Elite institutions face very different circumstances, Ms Hoxby reckons. They operate like venture-capital firms, offering subsidised, labour-intensive education to highly qualified students. They aim to cultivate a sense of belonging and gratitude in students in order to recoup their investment decades later in the form of donations from successful alumni…. For top schools, the best bet may simply be to preserve their exclusivity.”