Mr. Selingo touches on the lack of transparency in higher education: it is difficult for potential enrollees to understand the graduation rates or employment statistics of an particular college program. Which is kind of like buying a new car with no insight into its fuel economy or safety record. Except that a four year college costs far more than what the average person would spend on an automobile.
Still, this is only a broad brush view on the topic. I'm going to try Richard Arum's "Academically Adrift
College Unbound: The Future of Higher Education and What It Means for Students
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