The July 20th, 2013 Issue of the Economist Magazine has an article entitled “The Attack of the MOOCs”. It describes the way Massive Online Courses are challenging the business model of traditional brick and mortar universities. I encourage you to read the article, which explains the different revenue models the MOOC providers are using.
What impacts will the MOOCs have? The article mentions two (changes):
- Cheap online providers will radically reduce the cost of higher education and drive many traditional institutions into extinction.
- Access to higher education will dramatically increase.
Overall, this increased competition in higher education will be good for students and the family members helping to pay the tuition.
The Sunburned Surveyor