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Education is expensive (and getting more so everyday).
college tuition and costs have increased by 500% since 1985.
In comparison, medical costs & the CPI have only increased by 286% and 121%, respectively.
To add to that, the US has $1 trillion dollars in student debt, with the average student acquiring $24K. Not a great way to set off into the adult world.
So, we know that college is expensive, but what if parents just "save a lot" for education?
The US Department of Agriculture calculates that it will now cost $250K for a middle-income couple to raise a child up to 18 years old. If you live in the Northeast, it's more like $450K per year. And, those numbers do NOT include college.
This can't continue.
If it does, income inequality in the US will become even more stratified and only the very rich will be able to afford college education (or students willing to risk the enormous debt).
That's why I think education is ripe for disruption. The current model doesn't scale or meet the ultimate goal of educating & preparing the next generation of citizens.
I like tech and sometimes drink the kool-aid that it can fix everything. Therefore, I think MOOCs (mass open online courses) are the future once they figure out accreditation and monetization.
Right now, I'm in the last week of my Coursera Social Psychology class, and it's been an awesome experience. If you've been around me the last 6 weeks, I'm positive you've heard social psychology jargon roll off my tongue. I've done all my homework this time around, which takes dedication, but also makes a difference in comprehension. My experience is just one data point, but what's more amazing is this:
My class has 200K students from 200 countries.
That's truly global at a fraction of the cost.
Here's to hoping for more disruption.
Interested in learning more? Check out this book:
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