The spread of exorbitantly priced, resort-style schools was possible only so long as the masses saw taking on debt as an affordable and necessary evil to launch a rewarding career. But once that cost-benefit analysis no longer makes sense and personal debt levels have become toxic, stubborn weights that hold back one’s ability to launch independence and build up savings, then the gig is up. We are there today. Non-traditional education models are an obvious solution that will continue to attract business away from bricks and mortar schools that bloated themselves beyond reach during the credit bubble of the last decade. The good news is: no one actually needs state of the art stadiums and buildings to learn. Thinking itself, is a very efficient activity.
Ben Nelson, Minerva founder, talks about the problems associated with the growing load of debt that follows many college graduates. Here is a direct video link.
Online degree universities are not what they used to be, and more students are taking advantage if new and improved programs to earn their diploma. Here is a direct video link.