<p>@Snarlatron, rather a fallacy, though? Many things which are ridiculed are not true. Truth is not a required characteristic of the ridiculed. </p>
<p>What makes this proposition a bad deal for prospective students? Let’s posit the students would be eligible for admission to Ivy League/elite US colleges on the basis of academics only. Off the top of my head:</p>
<p>1) For-profit status. Investors in this enterprise expect to receive interest on their investment. Thus, any surplus will not be accumulated to improve the institution over time, nor to guard against lean times. Trimming “expenses” will mean trimming academics. Has to, especially in a school. Caveat Emptor applies.</p>
<p>2) Lack of transparency. The supposed freedom from bureaucratic reporting means the student does without the sort of data published in the Common Data Set. No federal oversight. </p>
<p>2a) forswearing the use of standardized tests for admission. For the able student, there is no means to ascertain the quality of the student body. If the proprietary admissions procedures selects a capable student body, the test scores should be in line with those of students accepted to the likes of Harvard. If the test scores were not as impressive as the scores of the student bodies of elite universities, then, no, I wouldn’t leap to conclude Minerva’s student body was more capable. </p>
<p>3) faculty. Who will agree to work without the prospect of tenure, so long as other universities are offering it? What adult will agree to move house frequently? One could conjecture they’d be a series of short-term contracts, mostly retired professors who can afford to go without, some who want to live in a specific city for a while, and whomever else they can find. </p>
<p>As a side note, does anyone know whether the Olin College of Engineering still does not offer tenure? They were widely reported not to offer tenure at the time of their founding, but this listing (and others) details tenured and non-tenured professors: <a href=“http://profiles.asee.org/profiles/6227/screen/15[/url]”>http://profiles.asee.org/profiles/6227/screen/15</a>.</p>
<p>4) Personal connections (lack thereof). No alumni body. If the institution lasts more than 4 years, the alumni will still be scattered across the world. </p>
<p>A student who wins admission to Harvard (or similar) would likely also be in the running for significant merit scholarships, including named scholarships, at many prominent universities. In comparison to paying 1/2 the going full rate at Harvard (Minerva’s stated goal for “thousands”), the students would be well advised to compete for full-ride scholarships at state flagships. They’d have the “full experience” for much less money, the advantage of established alumni networks, and access to corporate recruiters coming to campus.</p>
<p>5) Not to be persnickety, but Minerva has not yet found anyone willing to pay tuition for what their offering. The students are sacrificing a year to four years of their lives, but their room and tuition are covered, according to The Atlantic.</p>