[businessprofessor]

I agree that the model can be changed especially with financial incentives. Students have different needs for personal contact and interaction in learning. The time is now for change but I do not see a champion for change. Everything that the existing education establishment touches leads to even higher prices. For example, online courses cost more than traditional classes at most universities.

Here are my principles to radically lower cost and improve quality of the higher education product:

- Commoditize the knowledge and skills
- Unbundle services
- Eliminate or reduce unnecessary requirements
- Provide standardized assessments of student outcomes
- Use communications technology to reduce labor costs and physical plant requirements

[Kevmo]

If you can see it, then it is very likely to happen. The model will soon be overhauled by some enterprising soul with millions of dollars who wants to hire some pre- professors that can make their name better known in the industry. Instead of spending $50M for 50 professors over the next 5 years, he spends $10M for 50 lecturers and has the rights to their recorded lectures.

Many jobs can be reduced like this, and the expensive components outsourced. That’s what we’re seeing across industries right now.