[Codango: I personally have always seen the "guaranteed a job or your money back" thing a misrepresentation. Seriously… why would any business make that offer, and why would any consumer think that was the norm? If you go to school, the only guarantee is that someone will present you with information. Whether that information sticks; whether you are able to get a job interview; and be tendered a job offer – is truly up to the candidate. Holding business responsible for this is absurd.]
Cait Etherington: Imagine a degree with a money-back guarantee if you don’t get a job upon graduation?
While most nonprofit colleges or universities continue to sidestep such consumer-focused practices, over the past five years, money-back guarantees have become commonplace in the for-profit education sector.
With some big players such as Udacity now rescinding their tuition-reimbursement offers, the real question is whether or not the consumer-focused practice can become an industry-wide standard and even place pressure on nonprofit educational providers to become increasingly accountable to students.