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Harvard Business School professor: Half of the American colleges will be bankrupt in 10 to 15 years

Harvard Business School professor: Half of the American colleges will be bankrupt in 10 to 15 years

There has been a debate going on between online virtual education and traditional education. The argument for virtual education is the ease of accessibility and being able to learn from the top individuals, and it is also the more cost-effective alternate of the two. However, traditional education also has its benefits such as the classroom effect on learning and the importance of the physical presence of a teacher, but as technology progresses, there's a high chance that these things will be present in virtual education as well.

A Harvard business school professor wrote in his book, that he could forecast at least 50% of American colleges to go bankrupt in the next 10 to 15 years, particularly because of the phenomenon of virtual education.

 

The one thing, however, he thinks online education won't be able to have is the alumni associations and the kind of support and guidance they provide. The alumni association of every university guides its current students to be able to navigate in this world. Specific professors also inspire individuals and to be able to sit in a class will always be more inspiring than behind a screen. However, the cost-effectiveness of online education will become a real challenge for traditional institutes.

Author: KP
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