The Future of College
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The Future of College

December 15, 2019

The model of higher education that we’ve inherited is you go to college, you get your diploma, you go through graduation, done. We don’t live in that world anymore. So now lets talk about the two R that were in that equation So R subscript E is the required return to equity holders. And we are going to follow a model that’s famous in finance called the capital asset pricing model. This teacher is creating a digital learning experience with the help of a team at Georgia Tech university. Once it’s incorporated into a course, her lecture will be watchable anywhere her students can get online. It’s part of a trend that’s spurred a fair amount of hype. Could this be a revolution for online education? I have to wonder if physical classrooms could become another casualty of the internet age. It’s hard to imagine a future for college that isn’t touched somehow by the ongoing digital revolution. But the widely-hyped courses that are massive, open and online, so-called MOOCs that emphasize passively watching video lectures, they turn out to have a disappointing track record. It’s a priviledge for me to be your calculus professor this term, and I’m glad that you’ve chosen this course. One study of a million users found only 4 percent of students ever completed their course. Which is why some educators say reinventing college isn’t as simple as posting a video online and watching the whole world learn. It’s a misnomer to think that online education is less work. it’s a lot more work hands on with the students, but the work’s distributed in a way that is constantly making the course better as opposed to constantly making the course run. At Georgia Tech, Joshua Donegal is taking a computer science class and, while he rarely meets his professor in person, he sees him regularly like this. I don’t think it’s possible to slack off, you know that there’s another human on the other side of the screen watching over you, checking you, making sure that you understand the concepts. On the other side of the country in San Francisco, a new college called Minerva only offers classes as online seminars. And while everyone here takes their classes remotely, teachers track students as closely as if they’re in the same room. Possibly more. It’s a live video environment where up to 20 students / professors can interact with one-another in real time. All of the classes are synchronized. It is about real time communication. I think if you came to a Minerva class with a hangover, you would regret it by the end. Welcome to Financial Modelling. Both of these schools bill themselves as being on higher education’s cutting edge, and both are facing an economic truth, which might surprise those who believe technological disruption always means saving lots of money. If you do online right, it is not cheap. Economist David Feldman says digital technology is not likely to lead to a world where everyone skips college and gets an online degree for free. Getting a college degree is not a financial guarantee. Nothing is a financial guarantee. But over the past 35 to 40 years, getting a college degree has become an ever better bet. Which is why, despite mounting student debt, going to college usually makes sense, even for people who borrow to pay for it. The data are very clear that the most promising way for someone who starts out at the bottom of the income distribution, who comes from a low income family to move up, the best way to do that is to get a bachelors degree. I absolutely believe that college is more essential than ever, period, full stop. And I believe that we have to be remaking education. One of the more pressing reasons for this change grows out of a new reality graduates will face as technology transforms the landscape of employment. The world is moving so fast that you can’t go to college for four years and be prepared for four years. If your focus is on, “Let’s make this 18-year-old really happy with going to football games,” you’re not going to stay in business very long. There are people that are changing jobs five or six times over the course of their career. They tend to be in industries where disruptive change is happening all the time. And so, they come back to universities and say, “Can you help me with this?” And this has some students and universities rethinking the model of college as a single stage of life. So the old model for college was that people would show up as 18-year-old high school graduates, spend four years with you, and then you would send them out and they would work for the next 40 or 50 years. And this classic model of college is newer than you might think. The most common cliché I hear about education is that is hasn’t changed in 2000 years. That’s totally not true. In the end of the 19th Century, both European and American colleges realized the whole world had been industrialized. You had to have a different role in society. You had to a different kind of education, and education went through massive transformations. A lot of the things we take for granted in the US college experience like entrance exams, multiple choice questions, grades, even the divisions among many academic disciplines – were adopted during another time of rapid technological change, between the 1880s and 1920s. And we now equally need to go through massive transformations for a world that is not an industrial world, but an interconnected, linked world. And I always say if people did this in 1890, we can change higher education now. I think we’re at the tipping point, and we’re about to see massive changes in higher education from inside. And Georgia Tech is betting on this future with programs like a full-credit master’s degree in computer science that students can take online, from anywhere in the world. The new model is that people come back to you episodically over the course of their lifetimes. The online master’s program is a window into this future that we imagine. College isn’t for kids. I mean, I’m 36 years old now. I have three children I’ve been working professionally for a number of years. But I find it very beneficial to come back to the college environment to help improve my skillset. Otherwise, I could be behind the eight ball. And it’s not just mid-career professionals who are feeling this pressure. Sarah Hernandez is a 24 year old aerospace engineer who, shortly after graduating with a mechanical engineering degree from Rice University in 2016, landed what you might think is the job of a lifetime. I am a research engineer at the NASA Ames Research Center here in Mountain View, California. And that means I climb around wind tunnels, set up experiments, run wind tunnels, take data, and then analyze the data after the fact. We test anything from just 18 wheelers to full sized rockets. I’d like to think this kind of makes me a rocket scientist… since I work on rockets. Yeah. But she wants to match her skills to a workplace that’s becoming more digital all the time. That’s why, a little more than a year out of school, she’s going back – taking Georgia Tech’s master’s in computer science program from home. There’s a lot of scary stuff out there in terms of where the world’s heading. I think a lot of us are just very antsy right now. This is kind of how I’m dealing with it. The reality of the world we’re in right now is that you have to keep learning and keep retooling yourself to be, useful in our society, which is unfortunately how our society functions. I feel like I always have to be accelerating. Which could suggest that, for many of us, the future of college will be more of it. The challenge, for students, will be finding ways to pay for more schooling particularly when they’re in between jobs. Some advocates are calling for colleges to rethink the business model for education that’s lifelong. I’m fascinated and encouraged by a new trend of many universities to offer lifelong alumni benefits where you can come back to your own college and either for a reduced rate, or sometimes even free, take classes. It’s good business on college’s part to do this, but it’s also a sense that we owe something to you for the rest of your life.

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  1. in my opinion we need both. Not just one. Recording of the physical along with recording of topics that are taught in classes. Teacher shares their insight in physical classes which are invaluable.

  2. Please please, keep paying us 80,000$ for our credentials on what you can learn online for free! We promise, we're making it better ( but don't expect us to make it cheaper!)

  3. Degree is a waste of time. And the education system is already failing as you can see. Students dont want to go to college at all. They want just the acute knowledge not the lumpsum course that has been set out of which only 10 to 15% is useful in real life. And yeah education system just creates workers nothing else. It was designed that way by the large corporates so that no critical thinking can be developed in young minds. And yeah if these great teachers are saying that yup degree is necessery in life then why havent they become a millionair by now atleast if they were that confident. In short its a scam and you will be always stuck in the rat race by yourself. Wake up and take real experance from the movers and makers from your field of interest. Meet people, make them your mentor, even work with them for free if you have too if you can gain knowledge with from them and then make your way up. Cause this single piece of paper doesnt define you or say what you are capable of. So rise up and make it to another life you want to live on your terms not the societies. Trust me, I'm a millionaire not like these teachers who say things without proving themselves and i know hundreds of people in my city who are rolling on high stakes and havent even graduated from high school.

  4. it is an economical education business world, We are facing a qualification degree booming age. They could be selling it to you as a product, you will complete a qualification degree fast enough, if you got enough money and good relationships. It does not mean you could handle your work.

  5. It's been happening for years in a sense already. Whenever we go on youtube to learn calculus or physics, it's so much more beneficial than a professor often times.

  6. I hate this stat about people not finishing their online courses. I admit that I have probably finished 4% of online courses I have take. This does not mean that I haven't gained a ton from learning online. Excluding mathematics, I have probably learned more online during my computer science degree than I have in a classroom. The reason for this deflated figure is because these courses are so accessible that I can enroll in them for only the information I need. Furthermore, if I find that a course is either not useful or poorly taught, I stop and find another one. Unfortunately, I can't do this in my university courses.

  7. 3:52 is she saying college is more essential than ever because more and more jobs require the knowledge one acquires in college or because more and more jobs just need to know you have a degree?

  8. When college cost becomes too much many people might not want to go. Changes in education will come education will revolutionized one day artificial intelligence will start teaching the student itself in one on one course instead of 1 on 1000 course. The quality of 1 on 1 course will be better instead of 1 on 1000 course which quanity instead of quality.

  9. These online features would be very crucial as it can reach more and more people around the world and maybe for a much cheaper price.

  10. Really enjoyed this. I find education often gets missed out on the debates about where technology is heading next. Turning my subject into an online youtube course has been an eyeopener in the possibilities for the future.

  11. The biggest problem with online education is that public and established physical universities have the edge. To be accredited and allow your students access to financial aid and PELL grants, 50% of your classes have to have a physical class. There is no 'pre-accreditation' for online schools, you need millions of extra dollars to give smart students free school to become accredited (you need smart students so you get good hiring percentages, needed to become accredited.) Law and Medicine, Forget it! The US doesn't allow it. You'd need better lobbyists than Uber (I couldn't start a nationwide taxi service that rarely buys taxi medallions, but they did it.) I could start a school that charges community college rates for all the way up to doctoral classes, pay teachers far more than they get, create better opportunities for students than most schools; and still become a billionaire (but I'd need capital and lobbyists.) The only thing the school would not compete with major universities would be research, that's where a lot of your tuition goes; a research project you get nothing from (you can't even go in the room if you're not one of the researchers.) I wrote a 27 page business model (I don't waste words) before finding out how hard it would be to get access to PELL grants (which basically let the student go to school free if it's community college prices, they may even get some left over.)

  12. well I paid enough that you should owe something to me for the rest of my life other than those personal attacks whenever I went in due to depression. Collages are filled with people who think they are fine with attacking you emotionally because they believe themselves to be better than their customers. I had a counselor, who I went to due to depression, attack me personally saying it was all my fault not the school's and i was just an idiot who did not belong in collage. I almost committed suicide, thankfully my friends were there to get me out of my depression

  13. Everyone who is not a pure academic at heart needs to go to the military then go Finnish up college afterwards sense in all likely hood you’ll have at least 60 credits after 4years of service and discipline.

  14. 4% of MOOC students complete the courses…. The people signing up are mostly people that wouldn't be taking classes if MOOCs didn't exist ?? It's also very easy to drop a course because it's not what you expected or hoped for.. Not like a class you went through hell to sign up for and already bought an expensive text book…

  15. The important point that can be inferred from the video is that the pace at which technology is changing, the knowledge earned in a defined duration degree is not going to serve you for the entirety of life. You need to keep learning to keep up and these online courses or programs are the way to go.

  16. college is a business
    business' exist to maximize profits
    profits are maximized partly by reoccurring customers
    college students are glorified customers

    Ive learned more on youtube than i have from college. lol most of my classes actually reference kahn academy lol
    Dont believe me go to any of their teaching videos on kahn academy and see how many students comment that their teachers are shit compared to the video.

  17. This is not sustainable. Too much pressure on individuals, how many people can handle this? keep learning and "retooling" as they grow? Hmm maybe I am underestimating humans

  18. As our capitalist society grows do you thing that we will be left with options to discover for our own self. Tut-ions is expensive and the trend of a human being life is set up where we follow a typical lifestyle to the next person

  19. Why are there no standard, widely accepted alternatives to university education? Why does the university model have monopoly status in the United States (and probably elsewhere, especially in the Western world)? And why are instruction and certification so often inextricably linked? Why aren't there institutions that specialize in either teaching or accreditation but not both?

  20. More college?! That's ludicrous. People can't even afford the first four years of obtaining a degree. More education might become necessary, but only an elite few could afford it, unless our country's economy no longer remains a dumpster fire.

  21. We are not "Georgia Tech University." We are "Georgia Tech" (full stop) or "Georgia Institute of Technology."

  22. Retail you it will disrupt the mainstream education, but innovation diffusion here suggest there is a need of a hybrid system I.e. 50:50 onsite:online. Eventually there will be no more visible educational institutes, we don’t need that infrastructure and environment for learning, things and though both has changed ! What didn’t is the habit or cliche…..

  23. who ever says education hasn't changed in 2,000 years? stupidest comment ever, of course it has. nobody thinks that lol 5:00 minutes

  24. Most millionaires made a million before finishing college. Nearly all billionaires didn't finish college before they earned a billion. College is for the wage slave.

  25. Why is the state of our society and the way it's heading "scary?" 7:35 Why is it unfortunate that we have to keep retooling ourselves? 7:45 Education has always been a continuous pursuit. It's exciting there is a driving force behind personal/professional growth. Engage and succeed or step aside. It's an incredible time to be alive. We have the ability and opportunity to reach for our wildest dreams.

    I'm a dad and R&D engineer. I will encourage my son to learn programming, machining, design, welding, dance, music, art etc etc etc. Acquire skills that have utility and showcase them to the world creatively; in a way that adds value to those around you and the world.

  26. @ Quartz Great video! Too bad you didn't bring up whether there is any stigma with undergrad degrees online. This segment only brought up about taking masters courses online.

  27. creating interesting and fast paced 3 month courses where you can learn a specific skill while using the resources on campus, is something I would sign up for IMMEDIATELY. I love learning but hate the slow and outdated 4 year college programs.

  28. future of college: brain chip implant of every knowledge in the universe. go in one day, get it, done with college.

  29. If you’re debating on going to a community college or a university, please check out my most recent video. Don’t let anyone tell you community college isn’t good enough. Congrats to you on whichever path you take! ?

  30. What is equity? i went to Kaplan Online. i graduated during the Lehman Bros shock. There were no programming jobs available in Nagoya at the time, having JLPT 2 (before the pre-levels and N-levels. )was not enough. i worked with 60 year old who lost his job with a trading company due to 9-11.
    i've worked for 15 years in Japan. i would be a fish out of water in my home country. My wife pays the bills, i don't mind being a house husband. My brother-in-law has been one while between jobs.

  31. as i have done my bachelors in electrical engineering from nepal, our courses has not changes since 1980s, and from that time the world has changed a lot but except for our course which is just the same with no practical education. And the irony is most of my friends who are graduate even don't know the meaning of programming or coding. So, courses has to be changed.

  32. No reason the textbooks on the basics ever need to be updated. What a RACKET!2+2 STILL= 4 so dont change math books.) Most of the basic STEM courses SHOULD BE STANDARDIZED AND PUT ONLINE FOR FREE.

  33. The problem that I see with college is the added costs. Sure, you might see a class at $500 per credit hour but the book is another couple hundred dollars and added software, and the professor’s added text all increase that cost

  34. I love this channel sooo much that if given the chance, will be soooooo happy to contribute in any way..

  35. They mention returning to college to further education later in life, but the one downside of that is that there is less return on investment because you’ll have less years employed with that degree.

  36. nope…the future is companies providing specific education to employees with potential…see google…also ask, why are colleges and universities tax exempt and who is benefitting???

  37. Its not Georgia Tech University it is Georgia Institute of Technology.

    I am a proud high honors graduate of Georgia Tech and took 2 hybrid courses as a Mechanical Engineering student.

    Going to college is more than just learning the material. Its also about building network and building in person communication skills.

    I personally believe that complete online courses are going in the wrong direction. Hybrid courses may be the way to go. Most of my classmates had a same opinion.

  38. lol period my ass, went to uni, and 3 colleges, it was my third college that got my first real job. bachelor degree is usless.

  39. These yahoos saying college degrees are essential are for a Jurassic period. Google, amazon and many other tech companies are hiring people who they will train because they know universities haven’t kept up with the times regarding curriculum and what is “real” to today’s times. Coding is very important and I don’t know many colleges teaching that!! And the stupid expense, and the over surplus of degrees to job ratio is low. The old lady needs to get her head out of the sand!!

  40. I graduate 1985 with a psychology degree and was in field which hated it. 1995 majored in electronics and networking which I enjoyed today. Today the new technology is voip voice over ip phones. Keep learning. Downey California

  41. Meanwhile, many bogan towns in Australia believe that learning how to play football, how to wrap gifts and/or how to paint walls constitute an all-round Education.

  42. YouTube is basically an Educational Resource. Wanna learn how to sculpt, build a portable hard drive or Massive touchscreen. .. watch a video.

  43. i finished my 1st coursera class which i paid for (the OG andrew ng's machine learning course) and the knowledge i gained there impressed my teacher in the real college i was going to and he recommended me for a job so i got one right after uni. thank god for moocs tbh.

  44. I’m a big believer in the future of higher education being online but, I think Universities aren’t going to be as powerful as they have been.

    Some of the professors in these institutions are about to realise they can deliver the course online to millions simply by using their phone and starting a free YouTube channel. Just like Dr Jordan Peterson and others have done.

    What they can earn from one year of uploading courses can be $10,000s a month.

    As for students – rather than paying $40,000+ they could take out a loan of less than $10,000 and travel the world while studying. If not working to fund travelling the world.

    The smarter ones will go and live in a really cheap country like Thailand or they will start an apprenticeship / entry level role. Both situations would leave them with far less debt while providing valuable life experiences.

    This obviously wouldn’t be the right route for surgeons but for the vast majority of people, the route I described will work fine.

    Just think, would you rather pay to go to your local university to learn business and marketing for $50,000 or watch free videos online from the person who used to teach at Harvard, for free? (Possibly while building your own business)

    This choice is today’s reality.

    Simply search for ‘Yale’ or ‘Harvard’ in the search bar above, if you have any doubt.

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