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Breaking Bad Habits: Navigating the Financial Crisis by Dennis Jones and Jane Wellman The "Great Recession" of 2009 has brought an unprecedented level of financial chaos to public higher education in America. Programs are being reduced, furloughs and layoffs are widespread, class sizes are increasing, sections are being cut, and students can't get into classes needed for graduation. Enrollment losses upwards of several hundred thousand are being reported-and only time will tell whether the situation is even worse. Reports of budget cuts in public institutions in the neighborhood of 15 to 20 percent (Pennsylvania, Virginia, New York, Florida, and California) are becoming common. Halfway through the 2009-2010 fiscal year, 48 states were projecting deficits for 2011 and 2012 (NASBO, 2009). Although states are reluctant to raise taxes, they evidently have less of a problem letting tuitions go up. And up they are going-California, Oregon, Washington, New York, Wisconsin, and Florida announced increases ranging from 10 to 33 percent. The normally tuition-resistant Florida legislature has authorized annual increases in undergraduate tuitions of 15 percent per year until they reach national averages for public four-year institutions. Around the country, the increases are setting off student protests reminiscent of the 1960's, variously directed at campuses, system boards, legislatures, and governors-complete with reports of violence and arrests. The New Normal Higher education has been through tough times before. The pattern of the last two decades has been a zigzag of reductions in state funds for higher education during times of recession, followed by a return to revenue growth about two years after the state coffers refill. But resources have not returned to pre-recession levels. So the overall pattern has been a modest but continuous decline in state revenues. Caption: Percent Change in Appropriations for Higher Education, 1960-2006

"April 3, 2011 A Perfect Storm in Undergraduate Education, Part 2 By Thomas H. Benton What is keeping undergraduates from learning? Last month, I speculated from my perspective as a college teacher about a set of interlocking factors that have contributed to the problem. In that column (The Chronicle, February 25), I referred to the alarming data presented by Richard Arum and Josipa Roksa in Academically Adrift: Limited Learning on College Campuses (University of Chicago Press, 2011) in the context of President Obama's call for more students to attend college in order to prepare for the economy of the future. Why, I asked, should we send more students to college-at an ever greater cost-when more than a third of them, according to Arum and Roksa, demonstrate "no improvement in critical thinking, complex reasoning, and writing skills" after four years of education? This month I want to speculate on why students (and, to a lesser extent, their parents) are not making choices that support educational success. What could they possibly be thinking? The student as consumer. Surely adolescent expectations of Animal House debaucheries have been with us since the decline of college as preparation for the ministry. But, in the past few generations, the imagery and rhetoric of academic marketing have cultivated a belief that college will be, if not decadent, at least primarily recreational: social activities, sporting events, and travel. Along the way, there may be some elective cultural enrichment and surely some preprofessional training and internships, the result of which will be access to middle-class careers. College brochures and Web sites may mention academic rankings, but students probably won't read anything about expectations of rigor and hard work: On the contrary, "world-renowned professors" will provide you with a "world-class education." Increasingly, students are buying an "experience" instead of earning an education, and, in the competition to attract cu

"The Year Ahead in IT, 2012 January 6, 2012 - 3:00am By Lev Gonick This series of annual Year Ahead articles on technology and education began on the eve of what we now know is one of the profound downturns in modern capitalism. When history is written, the impact of the deep economic recession of 2008-2012 will have been pivotal in the shifting balance of economic and political power around the world. Clear, too, is the reality that innovation and technology as it is applied to education is moving rapidly from its Anglo-American-centered roots to a now globally distributed dynamic generating disruptive activities that affect learners and institutions the world over. Seventy years ago, the Austrian-born Harvard lecturer and conservative political economist Joseph Schumpeter popularized the now famous description of the logic of capitalism, Capitalism, Socialism, and Democracy. The opening of new markets, foreign or domestic … illustrate(s) the same process of industrial mutation - if I may use that biological term - that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one. This process of Creative Destruction is the essential fact about capitalism. Our colleges and universities, especially those in the United States, are among the most conservative institutions in the world. The rollback of public investment in, pressure for access to, and indeterminate impact of globalization on postsecondary education all contribute to significant disorientation in our thinking about the future of the university. And then there are the disruptive impacts of information technology that only exacerbate the general set of contradictions that we associate with higher education. The faculty are autonomous and constrained, powerful and vulnerable, innovative at the margins yet conservative at the core, dedicated to education while demeaning teaching devoted to liberal arts and yet powerfully vocatio

"If Engineers Were to Rethink Higher Ed's Future September 27, 2011, 10:27 pm By Jeffrey Selingo Atlanta - Walk into a college president's office these days, and you'll probably find a degree hanging on the wall from one of three academic disciplines: education, social sciences, or the humanities and fine arts. Some 70 percent of college leaders completed their studies in one of those fields, according to the American Council on Education. You're unlikely to discover many engineering degrees. Just 2 percent of college presidents are engineers. Yet, when we think of solving complex problems, we normally turn to engineers to help us figure out solutions. And higher education right now is facing some tough issues: rising costs; low completion rates; and delivery systems, curricula, and teaching methods that show their age. So what if engineers tackled those problems using their reasoning skills and tested various solutions through simulations? Perhaps then we would truly design a university of the future. That's the basic idea behind Georgia Tech's new Center for 21st Century Universities. The center is officially described as a "living laboratory for fundamental change in higher education," but its director, Rich DeMillo, describes it in terms we can all understand: higher education's version of the Silicon Valley "garage." DeMillo knows that concept well, having come from Hewlett-Packard, where he was chief technology officer (he's also a former Georgia Tech dean). Applying the garage mentality to innovation in higher ed is an intriguing concept, and as DeMillo described it to me over breakfast on Georgia Tech's Atlanta campus on Tuesday, I realized how few college leaders adopt its principles. Take, for example, a university's strategic plan. Such documents come and go with presidents, and the proposals in every new one are rarely tested in small ways before leaders try to scale them across the campus. After all, presidents have l

"Experts Ponder the Future of the American University By Karin Fischer and Ian Wilhelm Washington American universities have long set a global standard for higher education. But U.S. institutions will have to change, an international panel of experts said Monday, if they want to retain their edge and help the country in an economy ever more dependent on knowledge and innovation. "The American model is beginning to creak and groan, and it may not be the model the rest of the world wants to emulate," said James J. Duderstadt, president emeritus of the University of Michigan at Ann Arbor and one of the speakers on a panel assembled by the Woodrow Wilson International Center for Scholars here to discuss the university of the future and the future of the university. The other panel members largely agreed with Mr. Duderstadt's assertion that higher education could be among the next economic sectors to "undergo a massive restructuring," like the banking industry has seen. Among the factors that could lead to change, they said, are the globalization of commerce and culture, the accessibility of information and communication technologies, and the shift in demographics in developed countries that will result in the need to educate greater numbers of working adults. One model of a new approach to education could be the for-profit University of Phoenix, whose president, William J. Pepicello, also spoke at the Wilson Center forum. He argued that higher education must be more responsive to and tailor the curriculum to students' needs. Web sites like Google and Yahoo take note of users' preferences to give them information more attuned to their needs, he noted, adding, "Is there any reason why a higher-education platform shouldn't be able to adapt?"

"Ready for Change.edu? January 11, 2012 - 3:00am By Paul Fain Andrew S. Rosen takes the long view when talking about higher education. As CEO of Kaplan, Inc., he often defends the role of for-profit colleges in an evolving marketplace, peppering versions of his stump speech with tales about the creation of public universities and community colleges. His point is that some skepticism about for-profits is similar to the snobbery those older sectors faced from elite private higher education. Rosen goes further in his debut book, Change.edu: Rebooting for the New Talent Economy, which attempts to paint a picture of higher education's future as well as its history. He also takes a turn as a journalist of sorts - an interesting twist for the former general counsel of the Washington Post Co. - writing about his campus visits to other institutions, a couple of which are Kaplan competitors. The book is ambitious in its scope, particularly for an author with obvious vested interests. But most reviewers have given Rosen high marks. Kirkus Reviews writes: "Incredibly, his argument never comes off as self-serving; the author's thorough exploration of 'Harvard Envy' and the rise of 'resort' campuses is both fascinating and enlightening." Rosen recently answered questions over e-mail about his book, which was released by Kaplan Publishing. Q: The book arrives amid a series of challenges for your industry. What did you hope to accomplish by writing it? A: I've spent most of my life studying or working in education, with students of all ages and preparation levels: top students from America's most elite institutions and working adults and low-income students who have few quality choices to change their lives. I've come to see how the American higher education system (as with K-12) is profoundly tilted in favor of those who already have advantages. Our society keeps investing more and more in the relatively small and unchanging number of students who have the privil

"June 12, 2011 In Follow-Up, 'Academically Adrift' Students Show Worrisome Levels of Debt and Joblessness, Author Says By Scott Carlson Some people have been talking about a bubble in higher education. Richard Arum, a professor of sociology and education at New York University, doesn't quite buy it. But he did tell a room of college administrators here that higher education was going through a sea change: Once upon a time, if you took the financial risk of getting a college degree, no matter your major, you would do extremely well in life, compared to someone with only a high-school degree. Times have changed, he said. "It's not that college degrees aren't worthwhile," but the returns are diminished, he said. "After 2008, "you can't be so sure that the college credential, waving that paper in the air, is enough to give you the job that is going to pay enough that it didn't matter how many loans you took out." Mr. Arum appeared here at the Summer Seminar, a conference put on by the Lawlor Group and Hardwick-Day, two higher-education consulting firms based in the Twin Cities, to discuss the book he wrote with Josipa Roksa, Academically Adrift: Limited Learning on College Campuses (University of Chicago Press, 2011). By now, most academics are familiar with the book and its provocative thesis: Students, the authors contend, spend a great deal of time socializing and relatively less time studying effectively. As a result, they don't seem to be learning as much as we might like to think they are, despite the high grades many have. "They might not hand out A's on college campuses like they're candy," he said, "but we hand out B's like they are candy. You've got to really work today to get something below a B." The book represents the work the researchers did in tracking through their first two years of college 2,300 students who entered 24 representative four-year institutions in the fall of 2005. "By the time the book came out, we had data not just on the first tw

"Udacity and the future of online universities By Felix Salmon January 23, 2012 The most exciting (but also, in a small way, slightly depressing) presentation at DLD this year came from Sebastian Thrun, of Stanford and Google. Or formerly of Stanford, anyway. Thrun told the story of his Introduction to Artificial Intelligence class, which ran from October to December last year. It started as a way of putting his Stanford course online - he was going to teach the whole thing, for free, to anybody in the world who wanted it. With quizzes and grades and a final certificate, in parallel with the in-person course he was giving his Stanford undergrad students. He sent out one email to announce the class, and from that one email there was ultimately an enrollment of 160,000 students. Thrun scrambled to put together a website which could scale and support that enrollment, and succeeded spectacularly well. Just a couple of datapoints from Thrun's talk: there were more students in his course from Lithuania alone than there are students at Stanford altogether. There were students in Afghanistan, exfiltrating war zones to grab an hour of connectivity to finish the homework assignments. There were single mothers keeping the faith and staying with the course even as their families were being hit by tragedy. And when it finished, thousands of students around the world were educated and inspired. Some 248 of them, in total, got a perfect score: they never got a single question wrong, over the entire course of the class. All 248 took the course online; not one was enrolled at Stanford. Thrun was eloquent on the subject of how he realized that he had been running "weeder" classes, designed to be tough and make students fail and make himself, the professor, look good. Going forwards, he said, he wanted to learn from Khan Academy and build courses designed to make as many students as possible succeed - by revisiting classes and tests as many times as necessary u

"The Campus Tsunami By DAVID BROOKS Published: May 3, 2012 Online education is not new. The University of Phoenix started its online degree program in 1989. Four million college students took at least one online class during the fall of 2007. But, over the past few months, something has changed. The elite, pace-setting universities have embraced the Internet. Not long ago, online courses were interesting experiments. Now online activity is at the core of how these schools envision their futures. This week, Harvard and the Massachusetts Institute of Technology committed $60 million to offer free online courses from both universities. Two Stanford professors, Andrew Ng and Daphne Koller, have formed a company, Coursera, which offers interactive courses in the humanities, social sciences, mathematics and engineering. Their partners include Stanford, Michigan, Penn and Princeton. Many other elite universities, including Yale and Carnegie Mellon, are moving aggressively online. President John Hennessy of Stanford summed up the emerging view in an article by Ken Auletta in The New Yorker, "There's a tsunami coming." What happened to the newspaper and magazine business is about to happen to higher education: a rescrambling around the Web. Many of us view the coming change with trepidation. Will online learning diminish the face-to-face community that is the heart of the college experience? Will it elevate functional courses in business and marginalize subjects that are harder to digest in an online format, like philosophy? Will fast online browsing replace deep reading? If a few star professors can lecture to millions, what happens to the rest of the faculty? Will academic standards be as rigorous? What happens to the students who don't have enough intrinsic motivation to stay glued to their laptop hour after hour? How much communication is lost - gesture, mood, eye contact - when you are not actually in a room with a passionate teacher and students? The

"January 22, 2012 States Push Even Further to Cut Spending on Colleges By Eric Kelderman For nearly four years, governors and state legislators have focused on little else in higher education but cutting budgets to deal with historic gaps in revenue. Now, with higher-education support at a 25-year low, lawmakers are considering some policy changes that have been off-limits in the past, such as consolidating campuses and eliminating governing boards. Such proposals reflect the reality that, in most states, money for higher education will be constrained for the foreseeable future. Systems in Georgia and New York have already taken the unusual step of combining campuses under a single president. Other states, such as Ohio, are talking about giving institutions more freedom from state regulations, although for college administrators there's a trade-off: They would get more flexibility but even less state money. On the agenda in many statehouses this year will be bills that would tie higher-education appropriations to the completion rates of students at public colleges. Such performance-based models, which have had a mixed record in recent decades, are again popular with lawmakers trying to squeeze the most out of every tax dollar and to reward colleges that are more efficient at producing graduates. Related Content State Support For Higher Education Falls 7.6% in 2012 Fiscal Year Calif. Governor Goes After For-Profits With Limits on Cal Grants Legislators aren't demanding that colleges be more cost-efficient just to reduce spending on higher education, says Travis J. Reindl, a higher-education researcher for the bipartisan National Governors Association. They also want to keep colleges affordable for students. "We'll still be talking about money, money, money," Mr. Reindl says of the legislative sessions ahead. "Governors are increasingly interested in how the money is being spent by higher education ... and how much of that money is going to come out of

"A Disrupted Higher-Ed System January 26, 2012, 2:40 pm By Jeff Selingo The "disruption" of the higher-ed market is a popular refrain these days. Rising tuition prices and student debt have left many wondering if the current model is indeed broken and whether those like Harvard's Clay Christensen are right when they say that innovations in course delivery will eventually displace established players. What exactly those innovations will look like remains a matter of debate. One view from Sheryl Sandberg, chief operating officer of Facebook, envisions a future in which every industry will be disrupted and "rebuilt with people at the center." In this recent interview with The Wall Street Journal, Sandberg talked specifically about the gaming industry, which has been upended by the popularity of social-gaming venues, such as Words With Friends and Farmville. But what if we applied her people-centered vision to higher ed? While amenities and services on campuses have been redesigned in the last decade with students clearly at the center, the core of the academic experience for students today is almost exactly the same as it was for their parents decades ago. While other industries have been able to find productivity gains without sacrificing quality, on most college campuses we still have professors at the front of a room or at a table with an average of 16 students in front of them. We all know that's one of the key drivers of rising college costs. Higher ed is people intensive, and for many prospective students and their parents, the professor-centered academic experience is well worth the high price and will be for a long time. It's one reason why high-quality institutions really have little to worry about. But we also know that the traditional academic experience isn't for everyone these days. The students we used to call "nontraditional" are now a majority, yet we have way too many colleges chasing after high-achieving 18-to-24-year-olds

"October 6, 2010 How to Help Students Complete a Degree on Time By Jennifer Gonzalez Speakers at a conference that opened here (Baltimore) on Wednesday discussed policies and practices that states and colleges are using or considering to help more students complete an undergraduate degree or credential in a timely way. The conference, "Time to Completion: How States and Systems Are Tackling the Time Dilemma," was organized by two nonprofit organizations, Jobs for the Future and the Southern Regional Education Board, whose goals include broadening college access and making higher education more affordable. At the opening of the two-day event on Wednesday, officials with the Southern Regional Educational Board said they planned to start tracking the length of time it takes students in the organization's 16 member states to earn credits toward graduation. Officials with Jobs for the Future announced new online tools the group is putting together to help institutions, system officers, and policy makers better understand different aspects of time-to-completion issues."

"October 31, 2010 Tomorrow's College The classroom of the future features face-to-face, online, and hybrid learning. And the future is here. Jennifer Black isn't a fan of technology. Until college, she didn't know much about online classes. If the stereotypical online student is a career-minded adult working full time, she's the opposite-a dorm-dwelling, ballet-dancing, sorority-joining 20-year-old who throws herself into campus life here at the University of Central Florida. Yet in the past year, the junior hospitality major has taken classes online, face to face, and in a blended format featuring elements of both. This isn't unusual: More than half of the university's 56,000 students will take an online or blended class this year, and nearly 2,700 are taking all three modes at once. As online education goes mainstream, it's no longer just about access for distant learners who never set foot in the student union. Web courses are rewiring what it means to be a "traditional" student at places like Central Florida, one of the country's largest public universities. And UCF's story raises a question for other colleges: Will this mash-up of online and offline learning become the new normal elsewhere, too? Signs suggest yes. The University System of Maryland now requires undergraduates to take 12 credits in alternative learning modes, including online. Texas has proposed a similar rule. The Minnesota State Colleges and Universities system is pushing to have 25 percent of credits earned online by 2015. And the Bill & Melinda Gates Foundation, pointing to UCF as a model, has made blended learning a cornerstone of its new $20-million education-technology grant program."

"October 31, 2010 Tomorrow's College The classroom of the future features face-to-face, online, and hybrid learning. And the future is here. By Marc Parry Orlando, Fla. Jennifer Black isn't a fan of technology. Until college, she didn't know much about online classes. If the stereotypical online student is a career-minded adult working full time, she's the opposite-a dorm-dwelling, ballet-dancing, sorority-joining 20-year-old who throws herself into campus life here at the University of Central Florida. Yet in the past year, the junior hospitality major has taken classes online, face to face, and in a blended format featuring elements of both. This isn't unusual: More than half of the university's 56,000 students will take an online or blended class this year, and nearly 2,700 are taking all three modes at once. As online education goes mainstream, it's no longer just about access for distant learners who never set foot in the student union. Web courses are rewiring what it means to be a "traditional" student at places like Central Florida, one of the country's largest public universities. And UCF's story raises a question for other colleges: Will this mash-up of online and offline learning become the new normal elsewhere, too?"

"Speeding Toward a Slowdown? November 16, 2010 Online college enrollments grew by 21 percent to 5.6 million last fall, the biggest percentage increase in several years, according to a report released today by the Sloan Consortium and the Babson Survey Research Group. At the same time, the authors say online growth might begin to slow down in the near future, as the biggest drivers of enrollment growth face budget challenges and stricter recruitment oversight from the federal government. Nearly one million more students took an online course in fall 2009 than in the previous year, according to the new survey, which drew responses from 2,583 academic leaders at both nonprofit and for-profit institutions across the country. That is the biggest numerical increase in the eight-year history of the report, and the largest proportional increase (21.1 percent) since 2005. Online enrollments have grown at more than nine times the rate of general enrollment since 2002. Almost a third of all college students in the country take at least one course online. The conventional wisdom has been that the economic crisis has spurred at least some of that growth, as adults looking to increase their job prospects have gone back to school for a new degree. Three-quarters of the institutions surveyed said the recession drove interest in their online programs. In the year since Sloan administered its survey, there has been more talk of online enrollment growth as a strategy for making up for shrinking state allocations at public university systems - especially in places like California, where some think a massive online expansion could lift the state university system out of financial ruin, and Minnesota, where possible Republican presidential challenger Gov. Tim Pawlenty has made the idea of less-expensive online public higher education one of his talking points. But Jeff Seaman, co-director of the Babson Survey Research Group and co-author of the new Sloan survey, says that shrinkin

"How Will Students Communicate? January 6, 2011 Thus spake Zuckerberg: "We don't think a modern messaging system is going to be e-mail." The Facebook founder said so in November, when his company unveiled its new messaging platform: a system, sans subject lines, designed on the assumption that in the future most electronic communication will be brief, informal bursts. In December, Zuckerberg's prognostication was essentially certified by the New York Times, which ran an article suggesting that among young people who are in college or about to be, e-mail is quickly going out of style. Meanwhile, learning-management platforms - notably Blackboard, the market leader among nonprofit institutions - have been building more just-in-time messaging features with an eye to becoming the hub for student-to-student and professor-to-student communications around academic coursework. All this has left campus technologists to ponder the future of institutional e-mail systems, which are still by and large the standard medium connecting colleges with their students. If students are in fact moving away from e-mail in their personal lives, institutionally provided student e-mail accounts will probably diminish in popularity over the next few years, campus technologists say, and that could force colleges to rethink the most reliable ways to stay in touch with their students. At the same time, several technologists contacted by Inside Higher Ed say that e-mail is unlikely to disappear, if only because it remains the most suitable medium for the sort of official communications routinely sent to students from non-peer, non-professor sources."

"April 17, 2011 5 Myths About the 'Information Age' By Robert Darnton Confusion about the nature of the so-called information age has led to a state of collective false consciousness. It's no one's fault but everyone's problem, because in trying to get our bearings in cyberspace, we often get things wrong, and the misconceptions spread so rapidly that they go unchallenged. Taken together, they constitute a font of proverbial non-wisdom. Five stand out: 1. "The book is dead." Wrong: More books are produced in print each year than in the previous year. One million new titles will appear worldwide in 2011. In one day in Britain-"Super Thursday," last October 1-800 new works were published. The latest figures for the United States cover only 2009, and they do not distinguish between new books and new editions of old books. But the total number, 288,355, suggests a healthy market, and the growth in 2010 and 2011 is likely to be much greater. Moreover, these figures, furnished by Bowker, do not include the explosion in the output of "nontraditional" books-a further 764,448 titles produced by self-publishing authors and "micro-niche" print-on-demand enterprises. And the book business is booming in developing countries like China and Brazil. However it is measured, the population of books is increasing, not decreasing, and certainly not dying. 2. "We have entered the information age." This announcement is usually intoned solemnly, as if information did not exist in other ages. But every age is an age of information, each in its own way and according to the media available at the time. No one would deny that the modes of communication are changing rapidly, perhaps as rapidly as in Gutenberg's day, but it is misleading to construe that change as unprecedented. 3. "All information is now available online." The absurdity of this claim is obvious to anyone who has ever done research in archives. Only a tiny fraction of archival material has ever been read, much less di

"July 10, 2011 A College Education for All, Free and Online By Kevin Carey All around the world, people have been waiting for someone like Shai Reshef to come along. Reshef is the founder and president of the University of the People, a tuition-free online institution that enrolled its first class of students in 2009. UoPeople strives to serve the vast numbers of students who have no access to traditional higher education. Some can't afford it, or they live in countries where there are simply no good colleges to attend. Others live in rural areas, or identify with a culture, an ethnicity, or a gender that is excluded from public services. UoPeople students pay an application fee of between $10 and $50 and must have a high-school diploma and be proficient in English. There are also small fees for grading final exams. Otherwise, it's free. The university takes advantage of the growing body of free, open-access resources available online. Reshef made his fortune building for-profit higher-education businesses during the rise of the Internet, and he noticed a new culture of collaboration developing among young people who grew up in a wired world. So UoPeople relies heavily on peer-to-peer learning that takes place within a highly structured curriculum developed in part by volunteers. The university plans to award associate and bachelor's degrees, and it is now seeking American accreditation. Rather than deploy the most sophisticated and expensive technology, UoPeople keeps it simple-everything happens asynchronously, in text only. As long as students can connect their laptops or mobile devices to a telecommunications network, somewhere, they can study and learn. For most of humanity, this is the only viable way to get access to higher education. When the university polled students about why they had enrolled, the top answer was, "What other choice do I have?" Some observers have wondered how effective such an unorthodox learning model can be. But UoPeople's tw

I wonder how the University of the People will evolve compared to the fledgling Open Educational Resources University that is being founded by a few key institutions around the world. OERU has its business model roots in Web 2.0 as the foundation for collaboration. A group within OERU is also participating in Ray Schroeder's EduMOOC. For more info on OERU see http://wikieducator.org/images/c/c2/Report_OERU-Final-version.pdf

"The Disruption Is Here September 15, 2011 - 3:00am Michael Staton A recent essay here by Robert Archibald and David Feldman challenged the idea of a "higher education bubble." They argued that a degree, even an expensive degree, is still worth it. They correctly pointed out that a degree is not an asset that responds to supply and demand like other markets. Their point that "on average most of us are average, and the data show that college is a very good investment for the average person," is true enough. But their real message was: there's no need to panic, the status quo is still working. I disagree. Said essay is part of a broader continuing discussion, this round set off by Peter Thiel's statements surrounding his 20 Under 20 Program encouraging students to "stop out" of college - with the idea that they are more likely to achieve entrepreneurial breakthroughs on their own than with more formal education. Thiel is a managing partner at one of the venture investors, Founders Fund, in my company, Inigral. Ironically, Inigral serves educational institutions with our Schools App, and most of our clients are traditional colleges and universities. (Schools App is a community platform inside Facebook and on mobile devices that helps to welcome the incoming class during the admissions, orientation, and first-year experience, making sure students find their "fit" and get off on the right foot.) So my company helps keep students in college while Thiel is going around talking about the potential value of "stopping out." Given this irony, people often ask me what I think about Thiel's comments suggesting that higher education is in a bubble. Here's what I think: He is mostly right, but the future prospects for education are more optimistic than Thiel suggests for two primary reasons: 1) Though it looks like an economic bubble, it's unlikely that there will be a precise moment in which the market crashes. Instead, there will be a slow market shift towards amor

A venture capitalist panel at SXSW interactive conference has discussed the future of education technology. The panelists, Mitch Kapor, Phillip Bronner and Rob Hutter claimed to have a broad vision of investing that looked for technology to be more than just successful but that also created social value.