Why you may not need to save for college any more

[Anonymous]

New developments underway that are finally going to make the higher education bubble burst! http://www.nytimes.com/2015/03/08/upshot/true-reform-in-higher-education-when-online-degrees-are-seen-as-official.html

[Anonymous]

Here's an interesting discussion of this issue, in which several people argue that online courses are not the nirvana so many assume they are/will be.

https://talk.collegeconfidential.com/parents-forum/1743786-will-the-college-system-collapse.html

[Anonymous]

Sweet. By then we'll probably be done paying off the 80k my Dh took out for his state college education.

[Anonymous]

One NYT commenter sums it up nicely:

What Carey doesn't understand is that MOOCs are not the equivalent of courses. They are the equivalent of textbooks.

We have for generations had libraries where students can teach themselves biology, economics, anthropology. The internet brings these resources into the home. That's wonderful. But it's not teaching.

[Anonymous]

Re: MOOCs not being a silver bullet -- there are other ways to learn things besides taking courses (in person or online). Volunteer or paid work, travel, mentors, etc.

[Anonymous]

Anonymous wrote:Re: MOOCs not being a silver bullet -- there are other ways to learn things besides taking courses (in person or online). Volunteer or paid work, travel, mentors, etc.

Nobody gives degrees for these things.

[Anonymous]

Re: MOOCs not being a silver bullet -- there are other ways to learn things besides taking courses (in person or online). Volunteer or paid work, travel, mentors, etc.


Nobody gives degrees for these things.

That may change. And work experience can be very valuable and may become more so as many more people have degrees. You can already see that happening.

[Anonymous]

We had high hopes for MOOCs initially, but reality's having a dampening effect. They have a utility; it's limited.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Re: MOOCs not being a silver bullet -- there are other ways to learn things besides taking courses (in person or online). Volunteer or paid work, travel, mentors, etc.

Nobody gives degrees for these things.

Actually, more and more colleges are switching over to competency-based degrees, where you get credit for showing your competence rather then showing that you attended a certain number of classes. You could have acquired that competence in any number of ways. And as employers start to see that looking at badges for individual skills is much more useful in the hiring process, traditional degrees are going to become worth less and less.

[Anonymous]

Most people learn most of what they need on the job. Certifications are finally going to catch up with that reality.

[Anonymous]

Anonymous wrote:Sweet. By then we'll probably be done paying off the 80k my Dh took out for his state college education.

I'm sorry, but huh?

My children have been informed that they are not allowed to borrow more than $5K per year for college. Period. They can live at home, get scholarships, go in-state, get jobs, whatever, but no way on earth are they going to accumulate college debt like this. What in the world was your DH thinking???

DH and I went to elite private colleges. We'd love for our children to do the same, but no way are these colleges worth the price they charge nowadays. Not even the Ivies, not Amherst, nor Haverford, nor Stamford. No, just say no!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Sweet. By then we'll probably be done paying off the 80k my Dh took out for his state college education.

I'm sorry, but huh?

My children have been informed that they are not allowed to borrow more than $5K per year for college. Period. They can live at home, get scholarships, go in-state, get jobs, whatever, but no way on earth are they going to accumulate college debt like this. What in the world was your DH thinking???

DH and I went to elite private colleges. We'd love for our children to do the same, but no way are these colleges worth the price they charge nowadays. Not even the Ivies, not Amherst, nor Haverford, nor Stamford. No, just say no!

They'll be 18. They won't need your permission, and they won't need a co-signer.

[Anonymous]

The only people who talk about the "higher education bubble" are people who didn't go to college. Education is not just about vocational skills. That's why Harvard does not offer an accounting or pharmacy major. Putting aside the critical thinking skills, it confers social status, social capital, and access to valuable networks. If the middle class starts to rely on cheap online colleges, the less they will benefit from the social capital and status advantages of higher education. And, the Ivies will become even more exclusive and competitive and more valuable in terms of life options/open doors.

[Anonymous]

Anonymous wrote:The only people who talk about the "higher education bubble" are people who didn't go to college. Education is not just about vocational skills. That's why Harvard does not offer an accounting or pharmacy major. Putting aside the critical thinking skills, it confers social status, social capital, and access to valuable networks. If the middle class starts to rely on cheap online colleges, the less they will benefit from the social capital and status advantages of higher education. And, the Ivies will become even more exclusive and competitive and more valuable in terms of life options/open doors.

Your first sentence is obviously nonsense. As for the rest, it depends on what kind of social capital you want in your life. There are many other possible ways to make social connections, and I bet a lot of new models will start popping up to take the place of colleges in that regard too. But sure, there is a certain type of social connection and social status that some people value and that elite colleges will still continue to cater to. So you're right in that regard -- some of the exclusive colleges are primarily social clubs for perpetuating the stratified social order and will continue to fill that role. Whether that's a good thing is another matter -- a recent study showed that high social inequality has negative effects on everyone's health and well-being, across the board.