I am continuously asked when I think college costs will hit a ceiling? I've maintained that costs will continue to rise until there is a viable alternative.
In a conference call Tuesday with a brilliant friend Rob Thompson, he stated-
"Colleges could be in trouble. The Higher Education World has titled. Their business model will change over the next 10 years. People are finding that online learning is not so bad after all. In fact, many students are liking it."
Online learning has been around 20 years now, nothing is new about that. What is new are the minds that have been opened to the viability of online learning now that almost every student in America, high school and college alike, is experiencing it in some form right now.
Of course, there are trade-offs with online learning in not having direct personal engagement or social interaction. So it's not for everyone. It won't replace college campuses but it could put a hardship on their golden-goose business model.
An online degree can now be earned from top four-year colleges at a fraction of the on-campus cost. Admission acceptances are generally more attainable. Degrees may be achieved in less time with greater flexibility in class scheduling.
Look at what the Univ. of Florida says-
UF Online provides an unparalleled education to determined individuals. We remove barriers, so our students can breakthrough. And those who complete one of our fully online four-year programs earn the same Univ. of Florida degree as their counterparts on campus.
The cost is $130 per credit x 30 credits = $3,900 per school year... do I have your attention?
For athletes wondering how that could work for them, either the NCAA will figure out how online students can play for a local college or they can be replaced too.
The Crack in the Armor- over 200 colleges have extended the "decision and deposit deadline date" from May 1 to June 1. I love this. They will spin it that they are doing it as a favor to you. Well, that's false! It does not come as a favor to you, rather it comes as a need for them to increase their enrollments...aha, the crack!
The Opportunity- parents of high school seniors, do not make your deposit yet, rather, wait it out. A university's response to lagging enrollments will be to increase scholarships, but only for those who know how and when to ask for it.
America is tired of excessive college costs. America is ready to see a correction in the cost-curve of colleges. Many Colleges will face a backlash from the newly opened mind of parents and the willingness of students to study from home.
The college world is tilting...thank you, Rob!
To see how this might apply to you, let's talk!
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