No, it’s a piece of paper, which people get for free after paying for a lot of classes, books, living arrangements, etc. for a few years. That piece of paper may be the reason people give for paying so much for these things, but they’re confused—some classmates won’t get the paper, and will pay just as much. And if the bank DID sell repo’d degrees, or the school sold the paper without the classes, the perceived value of the paper would drop to zero pretty quickly.
No, it’s a piece of paper, which people get for free after paying for a lot of classes, books, living arrangements, etc. for a few years. That piece of paper may be the reason people give for paying so much for these things, but they’re confused—some classmates won’t get the paper, and will pay just as much. And if the bank DID sell repo’d degrees, or the school sold the paper without the classes, the perceived value of the paper would drop to zero pretty quickly.