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Interesting interview in the The Atlantic Monthly. I don't agree with everything (e.g. that undergrad education be a liberal one, or that everyone can tackle higher education), but quite a bit resonates with me.
Well, there are two ways to pick a college. One is to go to a prestigious college, and when you graduate the world will know you went to Princeton or Stanford. It doesn't matter what happened in the classroom as long as you have that brand behind you. Claudia and I were up at Harvard talking to students, and they said they get nothing from their classes, but that doesn't matter. They're smart already—they can breeze through college. The point is that they're going to be Harvard people when they come out.
The second reason to go to college is get a good liberal arts education. We argue that you can get a better education at second or third tier colleges. Have you ever heard of Linfield College? It's in a little town called McMinnville, Oregon. We were very impressed with the campus. The professors care. They spend time with the students. The same is true in a place called Hendrix College in Arkansas, or Earlham College in Indiana. They provide a good education because they don't expect professors to do research.