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""Where's the beef?" was the famous campaign slogan from the 1984 Presidential campaign. For two years, MOOC watchers have been asking the same question, as hundreds of thousands of students participated in free online courses that delivered knowledge but no certification of any real value. The Georgia Institute of Technology recently changed all that: Its May 14 announcement that the school would offer a fully accredited Online Masters of Science in Computer Science (OMS CS) for less than $7,000 suddenly brought the abstract potential of MOOCs into stark relief."

almost a year after Global Campus made the announcement, officials are still waiting for their first credit bargain-hunters. Not one student has taken the university up on its offer.

"The bottom line is that there really is no replacement for face-to-face interaction between academics and students. Digital and online methods can enrich those interactions, but it seems unlikely they can replace them in anything other than a greatly impoverished way without the investment of considerable resources. No wonder 72% of those who have taught moocs over the past three years believe students who took their classes had not done sufficient work to deserve credit from their institution."