Michigan is one of the best universities in the country, and it answered a student distress problem by deciding to cover first-semester grades. The number I think its administrators were looking at is true, excellent, and aggregated at exactly the level where the actual problem disappears. This is how capable people miss a root cause, and it is the same error the college-ROI research made for twenty years.
Michigan said it will cover first-semester grades, and the internet answered in a day. Some replies were careful, most were not, and nobody could tell them apart without doing the work. That is a market failure with a Nobel Prize behind it. It explains why good arguments go unread, why I chose to argue without standing anyway, and what anyone with an audience can do about it in about a minute.
Michigan’s College of LSA will stop putting first-semester letter grades on transcripts, to help students explore and to curb a mental health crisis. The pressure is real. The evidence on hiding grades mostly runs the other way, and the university kept the measure for itself.