Given its possible scale, online education may improve the financial model of residential education. If a university’s courses can be offered online for small fees to people around the world, we might arrive at a sweet spot where high numbers of online learners are getting extremely good value for their fees, and the university that creates the content is using those fees to serve the mission of the university as a whole—part of which is to make education, on and off campus, affordable.
The new President of MIT seems here to advocate for what might be called the crowd funding of higher education.
There is something to this model, so long as it remains rooted in the strengths of residential teaching and research, and animated by the attempt to reinforce and fully fund the residential learning experience.
Source: The Wall Street Journal