Universities rely on tuition and fees, but few parents will be willing to pay $30,000-and up-for online classes.
Many factors have contributed to inflated education costs, including administrative bloat, fancy amenities, greater demand, government subsidies that reduce price awareness, and "Cost disease"-the term, attributed to economist William Baumol, connoting how certain industries become more expensive because they can't readily become more productive by reducing labor costs.
With the advent of online learning and telemedicine, technology exists to make education and health care more efficient.
Certain aspects of higher education are better suited to online treatment than others.
Up to now, many universities have offered some online classes, but they've rarely been regarded as serious alternatives to in-person learning.
The pandemic will accelerate progress toward a more customizable and affordable system of higher education.
Students will be more price-sensitive, especially if online learning has less stigma and can be combined with in-person instruction.
https://www.city-journal.org/post-pandemic-higher-education
Many factors have contributed to inflated education costs, including administrative bloat, fancy amenities, greater demand, government subsidies that reduce price awareness, and "Cost disease"-the term, attributed to economist William Baumol, connoting how certain industries become more expensive because they can't readily become more productive by reducing labor costs.
With the advent of online learning and telemedicine, technology exists to make education and health care more efficient.
Certain aspects of higher education are better suited to online treatment than others.
Up to now, many universities have offered some online classes, but they've rarely been regarded as serious alternatives to in-person learning.
The pandemic will accelerate progress toward a more customizable and affordable system of higher education.
Students will be more price-sensitive, especially if online learning has less stigma and can be combined with in-person instruction.
https://www.city-journal.org/post-pandemic-higher-education
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