Quite. Big-ticket schools have a lot of incentive & budget & momentum to promote big-ticket degrees. MOOCs just don't have the visibility, so those who tend to

Quite. Big-ticket schools have a lot of incentive & budget & momentum to promote big-ticket degrees. MOOCs just don't have the visibility, so those who tend to participate are already plugged in enough for awareness of such obscure options. 20% being "new students" is pretty good. MOOCs also don't yet provide confidence for all-in degree-scale participation, so they appeal more to those looking to fill educational gaps instead of building their academic career thereon. High-school graduates just aren't ready to pursue MOOC degrees en masse; they will as momentum & reputation builds, but not yet.