It is the week of clearing, when silly-season news is briefly full of stories of would-be university students who didn’t get the grades they needed for their offered places scrambling to get a place somewhere else. Looking at it close-up, the only credible conclusion, now that university education is so expensive, is that the system is designed to benefit the universities far more than the students.
In turn, this represents a whole privileging of the universities and their trade associations, that also promotes the wholesale financialisation of the higher education system. Which is odd, because the previous non-financialised system delivered world-class outcomes at less than world-class costs, and there’s little guarantee that that the financialised system will do the same. Indeed, the evidence so far is that giving universities too much financial autonomy turns them into rogue institutions, if the record of London University is anything to go by, here, here, and here.