The Value and Limitations of For-Profit and Community Colleges

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For-profit colleges can be beneficial for those with limited skills and income
Community colleges enroll nearly half of college entrance, many of them from low-income families
Only 40% of community college entrance get their degrees within six years
80% of community college students want to get a bachelor's degree but the system doesn't support it well

We think of them as intellectual enclaves and the surest route to a better life. But U.S. colleges also operate like firms, trying to differentiate their products to win market share and prestige points. In the first episode of a special series, we ask what our chaotic system gets right — and wrong. (Part 1 of “Freakonomics Radio Goes Back to School.”)