Earlier quoted context omitted.
> Students who now go to schools who do nothing for them and have no chance of paying their loans -- or spend most of their adult life trying to -- would be dissuaded from making that incorrect financial choice. The feedback loop for that is incredibly slow and incomplete. University reputations move on the order of decades, and only a handful of universities enter the public consciousness by way of reputation. Most…
I'm baffled by adults that grew up with computers yet seem to be unable to google a school for their reputation and the job prospects for graduates. Back in my day, pre-internet, every high school guidance counselor had catalogs that compared schools, so did public libraries, and magazines like US News & World Report would annually publish rankings.
(See Cathy O'Neil's "Weapons of Math Destruction", where she blames US News rankings specifically for the bloat of universities and the overuse of adjuncts.)