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this post was submitted on 26 May 2024
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Oh, yeah, I agree with you that at a systemic level, for-profit education isn't serving the best interests of people in general or even of a country.
And it's simply due to how any private company works: their objective is to maximize shareholder (or stakeholder, for companies which don't have shares) returns, nothing else - they might provide the "customer" with something positive if that's what it takes to generate said returns, but what you see very often in complex enough situations or those where the final outcomes for the "customer" take a long time to materialize is the companies selling something that ultimatelly doesn't provide the promised benefit to the customer.
The For-profit motivation has no place in things which are strategical for a country's future and its people, and that includes Education IMHO.
Personally I'm fortunate to have been born in a country where higher education is mainly a Public service (there are a few Private Universities nowadays, but they're not considered the best ones) and selection for entrance is reasonably meritocratic (based entirelly on grades and domain specific entrance tests, though people who went to better highschools in nicer neighbourhoods or whose parents were themselves highly educated, provided them a good environment and taught them good practices like reading, still have some advantage).