A bubble in student debt, enabled by central banks and underwritten by governments, has allowed post-secondary education costs to balloon more than 9% a year since 2000. Meanwhile incomes have stagnated and job opportunities narrowed. The education delivered is not more valuable today, only more expensive, and the model has become grossly inefficient and counter-productive.
Only lenders and the administrators of bloated school budgets have benefited from this massive mal-investment of resources. As debt levels must contract, this system and pricing is no longer sustainable.
Solutions lie in affordable, efficient delivery channels. Sal Khan is a leader in the education evolution that is necessary.
Salman Khan, Khan Academy Founder & CEO, discusses why he keeps Khan Academy free for students, what he thinks about public schools across the United States and how he’s working to forward education efforts across the globe. Here is a direct video link.