Is it possible that the golden age of universities is over? After all, 1 in 3 students won’t finish college. Student debt is at an all time high; tuition has increased faster than inflation; and 2 in 3 students leave with debt. The bottom quintile is just drowning in debt. Every year since 2000, the real value of having a Bachelors Degree has fallen.
Massive open online courses are changing the way the country educates. They are generally free and open to anyone, also in a much more cost effective way than the traditional college model. Internet courses will likely become increasingly accepted as legitimate course credits in the coming years.
To survive, universities need to begin looking more like a startup. Density powers startups, and it can help colleges as well. To unleash the potential of density, communities need nurturing: bars, eateries, coffee shops and housing. Universities foster this density. It is hard to top the collaborative potential of a thousand online students.
Universities that prepare students for a creative economy also prioritize shared resources and nurturing communities. There are areas where universities have the ability to compete, but they just need to act.
Do you think a university should be run more like a startup? Please share in the comments. To learn more, check out the full infographic below!