When you see a graphic like this, the first reaction is, this is absurd ..How can you compare apples and oranges, or shall we say watermelons and grapes !
It is easy to say that one would pay more for higher education than an online entertainment platform. After all higher education is a serious pursuit and online streaming is casual entertainment. Higher education is an investment for the future, that is expected to improve one’s earning potential and also many other social payoffs. Online streaming is just supposed to give some temporary pleasure.
For arguments sake, take Netflix as a representative of all OTTs. Netflix annual subscription is 100 $. Harvard annual fees is approx 50,000 $.
The question is – ” Is higher education from Harvard 500 times more valuable than a Netflix subscription ? “
The question that students who have to make the decision are asking are –
– Will online education be as good as face to face instruction ?
– Will the peer group interaction in virtual forums be similar to the bonding and networks that get formed in campus life ?
– Will employers value the online education degree similarly as the regular campus one ?
– A corollary to this question, will bankers give education loan for online courses
– For foreign students, student visa is the first step to immigration to US , if those doors are closed, is it justified to pay such a heavy price ?
– How does an online degree from a regular course in a US University differ from the numerous online certifications available through MOOC platforms like Coursera or EdX that are available at a much cheaper price ?
No easy answers to many of them. Your answers and comments welcome
- Posted by G.Mohan in his Facebook page on 10th July 2020
The Second Take 