This part of the discussion with education researcher and policymaker Ross Weiner and public universities representative Peter McPherson highlights a particularly pertinent issue in law school settings.
Anyone paying attention to the law school rankings game can recognize the not so invisible hand of the rankings behind this statement from Ross Davies:
One of the things that we can look at is how colleges and universities use their own financial resources either to broaden access or to serve other purposes. And what weâ€™ve seen is a huge shift away from providing institutional financial aid to the financially neediest students and more towards giving larger financial rewards to students who could afford to go to college whether they got a financial award or not. But these public universities, in order to move up in the ratings and the rankings systems, are actually buying up students who have done better previously. And itâ€™s a real problem because weâ€™ve got to figure out how to reward and incentivize these public institutions to serve these students who are going to struggle academically and financially. The country needs for these students to be more successful. And right now all the signals and all the status are towards universities and colleges becoming more elite, and not serving struggling students.
There is a clear incentive to “buy” high performing students in order to increase the illusion of selectivity. This incentive in turn puts pressure on admissions offices to make choices based on numbers that it might otherwise make on less quantifiable grounds and also applies pressure to increase tuition to fund the arms race. In this context, the recent moves by wealthier universities to reach into their endowments looks less like philanthropy and more like the erection of barriers to entry.
When the rankings start to reflect not the value the institution can impart on a student by virtue of its education but rather the status the school can achieve by leveraging its endowment to pad its LSAT stats, then it’s time for a MoneyLaw revolution.