Summary
I thought that elite universities like Harvard made their money from high tuitions. I was wrong! Harvard and other top schools actually lose money on students – they spend $150,000 per student a year on core academics alone.
The business model of elite universities actually binds them to wealthy students more than simply being expensive would. I’m not sure whether this pattern is a positive feedback loop, spiraling out of control and into absurdity, or whether it’s concerning but fixable.
I’m also not sure whether a focus on elite universities is a distraction, because their students represent less than 1% of college-goers, or necessary, because those students are disproportionately wealthy and powerful.
Inputs
* Is Meritocracy Making Everyone Miserable?
Now I want to…
* learn more about the business models at elite vs non-elite universities
* figure out whether elite universities could admit significantly poorer students without breaking their business model
* decide whether focusing on elite universities is constructive or a distraction
This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit polytrope.substack.com
Podchaser is the ultimate destination for podcast data, search, and discovery. Learn More