This is non-responsive to my point. Pointing out that paid universities like Corinthian in a grossly distorted market predictably are not very competitive offerings, or that good offerings can nevertheless still exist in heavily distorted markets, both fail to address that
> Current educational incentives caused by how payment is handled in these all-pay systems mean there is very little or no pressure exerted towards promoting an educational arms race towards quality, rather than minimizing cost to service that education.
In a more competitive market, yes, I believe you'd both likely see better European offerings, as well as substantially more compelling American paid offerings than the current batch of cash grab for-profit universities. They exist in their current form almost exclusively because financial lenders in the US have no incentive not to issue loans to students - even if the program is bogus, they are guaranteed re-payment.
This is a commonality shared between both current European offerings (via taxation guaranteeing repayment), and American alternatives (via guaranteed load repayment).
> Current educational incentives caused by how payment is handled in these all-pay systems mean there is very little or no pressure exerted towards promoting an educational arms race towards quality, rather than minimizing cost to service that education.
In a more competitive market, yes, I believe you'd both likely see better European offerings, as well as substantially more compelling American paid offerings than the current batch of cash grab for-profit universities. They exist in their current form almost exclusively because financial lenders in the US have no incentive not to issue loans to students - even if the program is bogus, they are guaranteed re-payment.
This is a commonality shared between both current European offerings (via taxation guaranteeing repayment), and American alternatives (via guaranteed load repayment).