How to Choose a College
By Richard Vedder
The most popular rankings use the wrong measures.
Each year, as they make the momentous decision of where to go to college, high school seniors are turning to popular rankings compiled by magazines like U.S. News & World Report. There are competing scorecards from the Princeton Review and Kiplinger's, but U.S. News' product is way out in front in visibility; in addition to its usual circulation of 2 million, it sells 9,000 newsstand copies and some 20,000 of its college guide book.
U.S. News evaluates educational quality by looking inside colleges at measures like faculty-student ratios, admissions selectivity, financial resources and alumni giving.
I think the U.S. News rankings ought to get a D. They're roughly equivalent to evaluating a chef based on the ingredients he or she uses. At the Center for College Affordability & Productivity, a two-year-old research organization in Washington, D.C. with a free-market bent, we evaluate colleges on results. Do students like their courses? How successful are they once they graduate? In short, we review the meal.
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