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  • An Open Letter to Money Magazine

    By Dean Dad August 19, 2008 9:56 pm

    Dear Editors of Money,

    This one has been making the rounds on campus.

    The September issue of Money magazine features an article by Penelope Wang entitled "Is College Still Worth the Price?" (I haven't been able to find it online.) It features the obligatory references to Vassar, climbing walls, arms races, the Chivas Regal effect, and superstar professors. It's intended to motivate parents to subject the pricey colleges and universities to cost-benefit analyses, and it could easily have been written ten years ago. But it also contains a memorable howler:

    "The outlet for students who can't play this game has always been public colleges, which 80% of undergraduates attend." (p. 90)

    The outlet, which 80 percent of undergraduates attend.

    Ahem.

    I know that Money magazine assumes a certain class background among its readers. I know that among certain strata, 'college' is synonymous with 'exclusive' and 'private.' And I know that higher ed isn't really your specialty. But this is really a bit much.

    By any reasonable definition, 80 percent is not the outlet, or the exception, or the afterthought. It's the majority. It's the norm. For that matter, almost half of the undergraduates in America attend community colleges, which merit no mention – not one – in the entire piece. Compare the complete silence on community colleges to this sentence from page 89: "But they're spending even more on building Hogwarts-style dorms with mahogany casement windows of leaded glass (Princeton's newest $136 million student residence); installing 35-foot climbing walls and hot tubs big enough for 15 people (Boston University); providing multiple eateries with varied cuisines and massive fitness centers (too many schools to name)." Tell you what – find me one community college in America with mahogany casement windows of leaded glass, and we'll talk.

    Among public four-year and community colleges, the lead is likelier to be found in the interior paint of the 1960's brutalist concrete squares showing the fruit of decades of deferred maintenance. I've been on plenty of community colleges campuses over the last several years, and have yet to see a hot tub. The 'varied cuisines' part I'll concede, I suppose, if you count Taco Bell and Pizza Hut.

    I'd just roll my eyes at the article and be done with it, if I weren't convinced that it feeds an incredibly destructive attitude among powerful people.

    It took me a few re-reads to figure out how the intended reader was intended to respond. Are elite colleges acting irrationally? No, because the market seems to bear the cost just fine, judging by the Chivas Regal effect. Should Congress crack down on wasteful public colleges? No, they barely merit mention, though you do manage to quote a few prominent Republicans taking potshots at an undifferentiated Higher Ed. Are tenured liberals living high on the hog, thumbing their vegan-fed noses at their ignorant but well-meaning benefactors?

    That's the nearest I can get to an intended reaction. Although why it's bad for elite colleges to respond to the market, and good for everyone else to, remains, shall we say, obscure. And adjuncts – who far outnumber tenured radicals – are as unmentioned as community colleges.

    It's the 2000's version of redbaiting. Pick a few wildly unrepresentative outrages, and tar an entire system with them. (If the article were entitled "Is the Ivy League Still Worth It?," it would at least be a little closer to honest.) Moving from outrage to outrage, without even a feint towards actual analysis, the piece is obviously intended to generate self-righteous, undifferentiated anger. And the taxpayers who feel that anger direct it at the public sector, where it damages the reasonably-priced majority.

    Call the article a limited success. I'm angry, and maybe even self-righteous. But I know precisely why.

    Sincerely,

    Dean Dad

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Comments on An Open Letter to Money Magazine

  • Posted by Kaye on August 20, 2008 at 9:10am EDT
  • I just read the article last night (just made it to my mailbox yesterday). I did not have the same visceral reaction that you did, though I only breezed through it once. I had previously worked at a private institution that had used consultants for a market competition study, only to find that we were a "good buy" among our competitors, which resulted in this equation: good buy = lesser school. Tuition was raised by double digits the next year. This was not an elite private; it had catered to the GI students after WWII, their children, and their grandchildren... the grandchildren (or more accurately, the parents paying for the third generation to go to college) were no longer the blue collar kids that had enrolled at the beginning. The college could be described as middle to upper middle in SES, so the price tag was not inconsequential. I sat in many debates over the incongruity of the school's social justice mission and the price hike... but how to keep up with our market (all of whom, to varying degrees of US News competitiveness, have the same historical roots and religious ties that call for social justice)? How were we to pay for salary hikes (deserved, at this teaching-focused institution) for faculty to make living in our expensive area more palatable? I agree his definition of "college" is myopic; the "middling" private colleges are engaging in this arms race in ways that I think will ultimately result in many of them overreaching and having to shut the doors.

    Now at a well-respected, large public institution, I am amazed by how many faculty I know and respect are willing to shell out major dollars for their kids to attend elite or striving-to-be-elite private schools, because it will somehow give them a better education than the students they themselves are teaching and engaging in the research process. I think that sense of name brand recognition permeates more than just a certain class; it even permeates many of the places who fall outside the small conclave of elite schools mentioned in that article.
    You would think that those with an "inside baseball" view of higher ed would be better proponents for its diversity with their own kids.

  • Money Magazine
  • Posted by Legacy Magnate on August 20, 2008 at 9:15am EDT
  • And your point is what? ;)

  • Pullic Colleges
  • Posted by SRW on August 20, 2008 at 10:40am EDT
  • I'm remonded of Dennis O'Brien's comment in Commonweal back in the 90's that the state (no pun intended) of public financing even for state colleges was even then so tenuous that a colleague said he could not describe the institution of which he was president as a "state college", and certainly not as a "state-financed college", but had settled on a "state-located college".

  • Open Letter to Money Magazine
  • Posted by Sharon Todd , Director, Grant Assistance at Harry S Truman College on August 21, 2008 at 11:55am EDT
  • Thank you for your cogent response to the article in Money magazine. Your defense of public higher education and community colleges was inspiring and most welcome.