I suspect a lot of their failures to do this in the US are related to easy money from non-defaultable federal loans.
Not only is there less incentive to control costs, but there's a perverse incentive to build stadiums, fancy student dorms, and other things to persuade new students to choose your school over another. Since that student is taking out loans without really evaluating their costs prices get driven up. The student gets left holding the bag eventually.
I understand the intent behind these loans is opportunity - making it so students that would otherwise be rejected for a loan from a bank can get one, but the negative knock on effects are severe. I think ISAs (structured like Lambda's that are very student friendly) align incentives between the school and the student while also giving all students opportunity.
There's also the issue that universities are primarily selling status with some education on the side (particularly true for fluffier majors that are almost entirely status). That's a harder cultural problem to fix.
Software is a good place to get a foothold though since if lambda school can actually deliver students that can write code and pass interview questions they can build out a referral network. Since universities are generally pretty bad at actually teaching students how to write code and pass interview questions there's a good opportunity here.
Not only is there less incentive to control costs, but there's a perverse incentive to build stadiums, fancy student dorms, and other things to persuade new students to choose your school over another. Since that student is taking out loans without really evaluating their costs prices get driven up. The student gets left holding the bag eventually.
I understand the intent behind these loans is opportunity - making it so students that would otherwise be rejected for a loan from a bank can get one, but the negative knock on effects are severe. I think ISAs (structured like Lambda's that are very student friendly) align incentives between the school and the student while also giving all students opportunity.
There's also the issue that universities are primarily selling status with some education on the side (particularly true for fluffier majors that are almost entirely status). That's a harder cultural problem to fix.
Software is a good place to get a foothold though since if lambda school can actually deliver students that can write code and pass interview questions they can build out a referral network. Since universities are generally pretty bad at actually teaching students how to write code and pass interview questions there's a good opportunity here.