NY Times Story on College "Value" Rankings

This New York Times article covers the emergence of "value" rankings of undergraduate institutions.  While brief, the discussion does a good job raising the tricky question of measuring value in higher education.  Apropos of this article, National Jurist magazine has published a "best value" ranking of law schools using a combination of tuition, average student debt, bar pass rate, and employment rate as the criteria.  The topic of value overlaps with the topic of productivity in higher education, covered in prior posts here and here, in that both ask how we ought to measure the output of colleges and universities.