Are Colleges At Risk To Alternative Education Choices?

 

University of California at Los Angeles (UCLA)
University of California at Los Angeles (UCLA)

Are colleges at risk to alternative education choices? Yes, if they do not become more affordable without students taking on massive debt, and use more cutting edge teaching methods.  In economics, they say that “the cure for high prices is high prices.” This means high prices will bring additional competition at lower prices. It is the basic economic principal of supply and demand. Outside of elite privates and flagship state universities, this seems to be happening in education, as many schools are lowering sticker prices after falling far short of filling their seats for this school year. Where is the competition coming from? International colleges are far less expensive. MOOCs (Massive Online Open Communities) are gaining in popularity. More families are looking at Community Colleges as a bridge to college, even if the student can get in to a 4 year school. Finally,”Immersive Schools” that teach specific skills in demand today in a short period of time and at a fraction of college costs, are sprouting up. These alternatives take direct aim at “skills needed in today’s economy, something colleges have been slow to adapt to, and use augmented and virtual reality as educational tools.