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Except that the raw "information" taught in colleges doesn't represent enough value to even show up as a line item in a cost breakdown. Anyone can read a book,
by lordCarbonFiber 8y ago
Except that the raw "information" taught in colleges doesn't represent enough value to even show up as a line item in a cost breakdown. Anyone can read a book, or even watch a lecture; the value add is access to research, access to professors, and perhaps most importantly, access to a community of motivated(to a degree) students all in plus/minus the same point in their lives.
MOOCs on the internet can't compete on any of these metrics.
- akgoel 8y agoThe only "value add" for colleges is the signaling provided by getting the degree, i.e. going through the application process and committing to finishing a 4 year degree. This is most easily measured in the income data for college-grads vs non-college-grads. This data is so easy to measure that you can measure the "value" of a college degree, currently something like $17K per year more for the graduates.
- pessimizer 8y agoDon't underestimate the value of circulating amongst the children of the wealthy. These are the connections that will get you work and investors, especially if you manage to marry one of them, which has always historically been the most common mode of class mobility. Your wealth is directly related to the people who you associate with. If you're any lower than upper-middle class, college will be your last opportunity to associate with the rich through simple elbow grease and charm.
- gowld 8y agoRight. The "basic core education" is what you get from a community college or a European public school -- and look at what the expenses is for those (total funding, per student). The rest is all up-charge for intangibles