"Very insightful, and I agree with most of the premises. The only one that stands out is the accreditation/social validation angle. IIT or Harvard graduate has a validation angle to employers, which will not go away for top institutions".
We had the exact same comment from a colleague on the blog recently and this blog summarizes some views on the subject:
In a Washington Post article that Dr. Qasem and I wrote entitled “The Arab Spring of Higher Education,” we spoke of the Amazon model and the eBay model of higher education. Here we elaborate on these two models and talk about what education will look like in the future.
First, let’s look at some US trends in higher education:
- Tuition costs are becoming increasingly unaffordable for college students. President Obama in his Michigan address asked colleges to think of ways to make education cheaper and more accessible. Large capital investments and fixed costs make it difficult for colleges to cut their expenses drastically
- College degrees are unaffordable for many and even so, do not guarantee a job. There is a demand for many prospective students is to learn materials and skills that would help them get a job
- Free availability of multimedia tools, broadband access, differentiated student base, demand for flexibility and modularized education, and technologically empowered end-users has created an environment where a demand for 24/7 education can be fulfilled by individuals or groups of individuals
The Grassroots Business Initiative (GBI) is the brainchild of the World Bank Group’s International Finance Corporation (IFC). Launched in 2004, the GBI supports innovative social enterprises – dubbed Grassroots Business Organizations (GBOs) – that directly engage the poor as