Posted by kcrookston at 6:47 PM. Placed in Technology category
At the All Things D conference, Stanford University President John Hennessy and Salman Khan, founder of Khan Academy discussed this issue. The conference, which is centered on the latest trends in technology and how these trends will affect our future, included details on this theory.
The cost of education isn’t just a problem for students who have to find a way to pay for their college education. These days, many colleges are charging less for an education that costs them more to provide. This means it’s not a financially stable model for anyone. Many people don’t realize that their tuition costs don’t just cover the cost of a credential. The cost of education is so high because colleges need to pay for professors, labs, equipment, university buildings, computer labs, libraries, student dorms and so many other things. When a student pays his tuition, some of it goes toward the cost of running the university.
However, with the increase in technology, schools may be able to offer better tuition rates, which is good news for students. It also means that it may not be as expensive for schools to operate, which is good news for universities. Overall, this could be a win-win solution.
One popular way colleges are able to lower tuition rates is by offering online degree programs. Many of the top online colleges in the nation have affordable tuition rates. And, that’s not all. When a student enrolls in online school, they don’t have to pay lab fees, buy textbooks or even pay as much for costs like professor payrolls and campus upkeep. Online college students benefit from a lower tuition fee because they are paying for online materials and a teacher who doesn’t necessarily provide lectures on a daily basis. Online curriculum can be reused several times, cutting down on the cost of developing it.
As technology continues to evolve, college students may see decreased tuition rates. This means college will be more affordable, and it may be easier for students to pay off student loans after they graduate, since they won’t accrue as much debt.