The Value of College is Going Down While the Cost is Going Up

We all take for granted the value of a college education.  Unfortunately, the universities themselves have recognized that belief and have raised tuition costs beyond reasonable amounts.  They are taking advantage of the situation, and, frankly, are nothing more than extortionists.

Now understand, I do believe a good education is important, especially in a society such as ours.  However, to take that logic and say it's therefore okay to charge someone hundreds of thousands of dollars for that is downright immoral.  When the head of a pharmaceutical company sees that someone needs a certain medicine and charges huge amounts for it, we shout that person down.  Why is it any different for universities to take advantage of the need for an education in the same way?

What's particularly ridiculous about all this is the fact that the need for universities for their knowledge has dropped ever since the invention of the internet.  Most majors have all their information listed somewhere online.  What people really need is someone to organize it all, and then someone to test the students on the information afterward.

And if we really need a professor to provide information, then why limit the amount of students to only those who can fit in the classroom?  Why not have a camera stream it to thousands of people in the world?  Sure, they couldn't ask questions on the spot, but they still get to hear the lecture, and the cost would be spread out, and could therefore cost less per student; at least enough to hire some TAs to answer questions placed in the comments.  The whole excuse for higher costs comes from the idea that a few students are bearing the burden of everything.  (Of course those costs are exaggerated, but that's another subject.)  With thousands of students carrying the cost, there's no longer an excuse for the cost being so high.

This also rids universities of the elitist practice of rejecting most students that apply.  There would be a select few who get accepted and pay more to be in the classroom at the time of the lecture, but with a streaming service, everyone gets to attend college.

So if all this information can be achieved at a low cost, why is the old system still being used?  The answer is simply because those in charge of hiring still believe in it.  As long as the heads of HR departments and presidents of companies still believe in the archaic, elitist system of universities rather than a strictly merit based system, this will continue.  It is time for this to change.

And some universities have.  Lydia.com is an example.  Certain universities, too, are beginning to make a stronger online presence, and teaching locations are increasing on Youtube.  And as it expands, more people will see its value.  The real change will happen when people who have grown up with that system begin to run companies.

And then those systems will be to places like Harvard what Netflix is to Blockbuster.