The $6,600 Master's Degree.
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Having spent a long time on the inside track of the Silicon Valley hiring processes, I can vouch that getting a degree from a prestigious institution really does fast-track your interview, at least when it comes to the screening or pre-screening phase.
$6,600 will at the current engineering salaries be at most a month and a half of your future net salary in the USA, or about 4-5 months worth of rent in San Francisco, so it is overall a very small forward investment to make if you live in the US.
I doubt the degree will be treated as "second class," this will occur only if the words get out that the program is somehow easier to finish and I strongly doubt that. If anything, without in-person TA-ing and live peer interaction, it will be harder to complete some of the courses.
re: Cost of graduate-level education in the USA I understand that EU-citizens get free Masters' education. This is somewhat a side-effect of the EU-wide Bologna process, which promoted everyone's Bachelors degree into a Masters by adding a year's worth more of education and introducing a credit-system. If you are a non-EU citizen trying to get a degree in the EU, you will be paying much more than $6600 in many countries, including the socialist-leaning Scandinavia.
Any US citizen can give FAFSA a try and (from memory) more than half of the undergraduate student body receives some form of financial aid from the government. There are reputable sources that say that paradoxically the generous FAFSA grants are partially responsible for a tuition inflation, but this debate is completely off-topic.
If you go into any community with a lot of college students / new grads you'll hear a lot of complaints about how its impossible to qualify for FAFSA, scholarships, financial aid, etc.
I'm a middle-class white male and was incredibly worried that I'd hit FAFSA's 'blind spot': our family has a home and a stable middle-class income, but not enough to comfortably afford even a public college education (for our European friends: public colleges offer lower tuition for students residing in the same state as the college because they are partially funded by the state -- instead of paying 50K tuition, I'd be paying around 20K). Furthermore, I was by no means a prodigy: I did well enough in high school to more or less choose the college I went to (I'm from Virginia, and our public colleges are some of the best in the country) I certainly wasn't being courted or showered with incentives.
I managed to still get a pretty fair shake from FAFSA (that 20K number was knocked down to around 11K) and was able to secure some elective scholarships. America's college system isn't some bureaucratic hellhole destined to crush the spirits of its entrants; its just coping with some changes it wasn't really designed to handle.
This isn't true. I'm from England (hence EU Citizen) and Batchelors and Masters degrees are two different things.
I have had to pay for both my Batchelors and my Masters degree - having said that the government does offer a basic loan for Batchelors degrees BUT there isn't any funding for a Masters degree, you have to pay that yourself.
We used to have free university education for anyone in the world. But that's now changed so that anyone not in the EU, European Economic Area or Switzerland have to pay tuition.
A three year Bachelor program would cost about 63000 USD for anyone not in those countries that are part of the above organizations.
Albeit, that factors in the 2k and 8k per semester for food / housing (and the school requires you live on campus if your home is >20 miles away, and you can't get an apartment off) and you have to take that meal plan.
It is like $12k in classes per semester, plus the room / board, and a bunch of other line item expenses that add up.
I suspect the answer will be similar to the US, but scaled down a bit since high skill labor is much cheaper in Europe.
And as far as I know, professors are still very well paid, so I still fail to see why would the education in the US cost so much money.
EDIT: in the US
The USA is more or less unique in the blatancy of the class values implicit in its university entrance requirements. The cancer spreads, much like professional graduate degrees but it is still most obvious in the land of origin. Gotta keep them Jews out, or nowadays them Asians. It's about the right sort of extracurricular, don't you know?
In the case of education, these people are most likely to reside in the developing world - there are billions of people in places like the BRIC nations for whom $6,600 is a really reasonable price to access education over the internet without having to leave their current homes, families and commitments. Not only that, they get to put Georgia Tech on their resume and apply for jobs domestically and overseas (especially in the US) where people will recognise their qualifications, even if they have an online masters and not a masters.
The scale of something like this is difficult to fathom - we are talking many times the population of the US and Europe combined who could benefit from something like this. This is why we are witnessing something truly revolutionary.
$2,000 is what I'd call "reasonable", although if we're really thinking about truly revolutionizing education for the other 3+ billion people, it needs to go even cheaper than that. Everyone should get access to the same level of quality education, and their financial situation should not be a major impediment.
In the U.S. a Bachelors degree lasts 8-9 semesters and equips you for work far better than the 3-year Bologna "equivalent."
The Masters degree thus can focus almost exclusively on the graduate-level courses, with the exception of some refreshers.
You have to compare the $6,600 to the cost of living in the United States.
U.S. census Bureau's poverty threshold is $11,500/year income. In this income-level very little goes to taxes. So this program is roughly 7 months of minimum wage in the US.
That is very affordable for an advanced degree.
which costs about 4655 USD
Brazil, in particular, has the exact opposite model of the US. Public undergrad schools are generally weak (with very few exceptions). If your parents can't afford to send you to a private high school, you'll probably have a tough time ranking well on the top public universities (which are not only free, but normally ranked lot better).
Not surprisingly, some public universities receive 10-20x more candidates/spot than other private options.
MOOC and initiatives like this pilot from Georgia Tech have the potential to change this picture radically in the next 10-15 years.
Instead of spending $100,000+ for a second class degree, some students will opt to spend a fraction of this, for a top tier US school. And you could use the difference to complement your education in other different ways - in-person courses, unpaid internships abroad, trips, etc.
Probably still not the same as going in-person to a top university school, but still revolutionary. The goal shouldn't be to send everybody to the best universities in the world (which is an impossible and unrealistic goal), but to give the best education that each person can have.
But I also have to ask: If this degree costs 20% of a traditional Master's education, is it even worth 20% as much? The degree clearly states "Online Master".
We might see a value developing here, but there is an equal chance that the early students get ripped off big time. They might learn a lot, but are they really getting their money's worth in additional skill marketability?
An enterprising person may well setup a facilitator experience, where students gather to watch online lectures and do group labs, at a fraction of the cost (plus not having to pay board away from home) and having the best materials to work with.
It is less about stuffing random facts in the brain than developing group oriented problem solving skills in a specialized discipline.
> They might learn a lot
does not imply this:
> "additional skill marketability"
really troubles me, but in this case you're unfortunately right.
I should note that I'm ignoring the instance of "might" here because I've encountered many 'traditional' masters students that haven't exactly "mastered" their material by the end of their studies either, so I'm assuming the differences in this aspect will be negligible. Either way, the traditional application process students have to go through is largely what bases the perceived weight of degree, so this course still keeping that 'metric' in-tact should help with its 'marketability'. However this program will still face an uphill battle regardless, simply because its biggest problem is it being 'non-traditional'; which is unfortunate.
The real cost, as always, in getting a degree is the students time. Someone capable of getting a Masters degree, can, without too much effort, make $100K/year pretty quickly (If income is what they are interested in).
This is why education is normally inexpensive in other countries - students are having to forego all that income, so it's in the interest of the country, to encourage their populace to become educated - so they subsidize.
I think part of the reason why Education is so expensive in the United States, is they have a fairly regressive tax system, with poor social systems (in comparison to other first world countries). Health Care is expensive, Education is expensive. It's a very difficult country to be poor in.
I'd love it if the $6,600 Master Degree started a disruptive trend.
For the latter it would be strictly because I want to create something, be innovative, and give back to my industry. The former - you're really paying for the connections - and possibly a few lessons on economics that have grown dry in your head.
I am justifying the price tag on a two year (night) MBA because I feel like I am getting into that "club" that most of the bigwigs are in.
Am I wrong?
MBA has very little (some might almost say negative) value in Silicon Valley startup world, but obviously more value in mature companies, or companies that are transitioning from startup->mature (possible exception being the CEO, VP of BizDev/Marketing and possibly VP of Product Management). MBAs have close to zero value for people who wish to be simultaneously tactical and technical. I've never seen a network engineer, or firmware developer get any value out of their MBA. It's really for people who are either going to go into the business side of a company, and/or go into management.
Also - it's important to note if you'll have to quit working while you are getting your MBA - that makes the credential doubly expensive.
At one very prominent startup that I worked for, lead by some very, very well known executives (who are extraordinarily prominent in the valley today), there was a general position for the first two years of our company, "Hire no MBAs." They really believed that the MBA was a negative at that phase of the company's history, and were looking for Programmers, designers, coders, systems administrators, DBAs, etc.
My alma mater (UWA) has a Master of Professional Engineering degree which I can complete for $15k AUD (and since they guarantee entry to their BCompSci grads, I'm considering it). Sydney Uni have a Master of Project Management that I costed at 20k AUD (edit: I was quite wrong, it's closer to 45k).
And the FEE-HELP program means that, if I chose, I could do it without paying up front.
Public higher education is a mess in many ways. But sometimes, boy, I really do live in the lucky country.
$15K AUD is very close to ~$14.5K USD. This is less than half of that.
While I am a huge believer in this, my little finger tells me that Online students will perform worse when it comes to exam time.
There is an energy to synchronous group learning you can't duplicate via websites. I remember when I was in college and university, a bunch of us bonded a bit and got pretty competitive (in a friendly way) when it came to our grades and test results. If you developed a good relationship with your prof, they would often have high expectations of you and you didn't want to let them down. These emotional connections can be pretty inspiring to kids ages 18-22.
If they want to be competitive with campus students, they need to either duplicate these emotions online (via virtual worlds?) or perhaps increase the workload and adjust the bell curve so students fail out quickly unless they take it very seriously.
If what they're selling is online videos and someone to check your homework, $3,300/yr sounds kind of expensive.
Additionally, I graduated with a BA in 2011 and the entire process felt archaic to me, filled with wasted time, and more importantly costing lots of my hard-earned money. The only way I was able to get the degree was with help of family and by taking CLEP tests for over 70 hours. (rougly equivalent to 23 courses), the CLEP tests only costed in total around $500, and allowed me to skip 2 years of study. (so if anyone hasnt heard of CLEP and is low on funds and wants to get a degree I would highly recommend them :)
I'm definately going to look into this in more detail though, getting a Masters would be nice and if all it costed was $6,600 for the 2 years (and study was remote) I think i'd be able to manage it as a full-time developer with a family.
There's no difference at all but for any even mildly ambitious undergrad in a STEM field, physically attending a research university is an opportunity to get involved, however peripherally, in such research. For someone pursuing a graduate degree this seems more like a requirement rather than a serving suggestion.
Georgia Tech is not a respected engineering school just because it does a decent job of fielding 500-person classes.
This is precisely the point. Our undergraduates go mostly up to Med School, and having a reaearch paper published is almost a requirement to get into any decent medical program.
Also, in an online course the interaction between is of a wholly different kind that a traditional brick-and mortar university. The social network that you build while at uni is part of why you go there in the first place.
I know a number of people across the natural science disciplines who TA'd / RA'd their way through Grad School. I might be misunderstanding how common this is but it seems any discussion of Grad School cost should discuss the fact that natural science students will often get paid to go to Grad School in the US.
The US educational system has a tradition of issuing a Masters as a consolation price to PhD dropouts who've done enough of the coursework/research.
Bona-fide Masters programs with scholarships/stipends are very hard to find. If there's counterexamples I would like to know about them. From my experience, these are very rare.
An online education with tough admissions would be better if one tries to preserve the brand (and thus provide insurance* to the program trainees).
* by insurance, I refer to insurance of employability, like Peter Thiel described in his PandoMonthly interview.
It's going to be interesting seeing which ones will offer an actual bit of paper at the end that says 'I'm educated in X by Y' and how much it's going to cost. $7k for a degree from a prestigious school is going to be a popular option, so whilst they lose the high amount per student, they gain it back in larger student numbers.
In fact I think the pricing will be separated out so that the lectures are 100% free and you pay for examinations or for tutoring or for small group mentoring with professors.
The logical conclusion is mega-universities that teach to millions of people in multiple countries around the world and out-compete existing universities leading to a large percentage of current universities being shut down or used only for courses where in-person training is necessary (for example medicine, some engineering courses etc).
If you were wanted to do medicine it was a whopping $5000 or so a year over about 5 years.
There were lesser hidden costs (200 for a registration fee kind of thing) but thats about it.
We considered that outlandish at the time.
The costs of the US education system baffle me on a daily basis.
However I don't see online courses as the way to go. Most people don't complete them.
If bought by the millions the cost should be a fraction?
Would never fly in the US because we do not invest in the future anymore unless it's for corporate profit.
Am I missing something? Did Berman pull that number out of thin air? Where did he get it?
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Edit- Here [http://www.omscs.gatech.edu/faq/] they write:
"We’re not yet ready to announce a specific program cost, but the plan is to offer the Georgia Tech OMS CS for a total cost of under $7,000—a fraction of the cost of Georgia Tech’s on-campus program and even less than that of comparable private universities."
That FAQ has a lot more meat than the LinkedIn article...
In most places you have to have at least 10k EUR (13k USD) on your bank account for each year of the program, on top of the tuition fees.
If one could get a college education from a distance in a language I know well, that would be amazing.
Professor/teacher is pretty much the quintessential example of highly-educated brain work, isn't it ?
> He estimated the school would have to hire one full-time teacher for every 100 online students as opposed to one full-time teacher for every 10 or 20 students who study on campus.
Also from the article:
> Looking back on it now, this experience had far more in common with the Middle Ages than the world of 2013. What's the difference between watching a lecture in an auditorium and watching HD-quality video in one's living room or beach cabana?
This is the situation that was hit at the end of the Roman Empire, the beginning of what would later turn into the dark-ages. Plenty of highly educated people, ever more and more, and ... no reason to have them. No reason to have all that many farmers either. This was a result of using iron-age technology to it's fullest potential. You should see some Roman surgery tools, they're amazing. They're much more specialized than "our" surgery tools. Surgeons today have 10 kinds of knives, syringes, stitches, compresses, all very general tools. Roman surgeons had hundres of tools, each a weird metal thingamabob specifically built for one singular procedure. We use special tools today in some cases, but mostly very general tools like 5 sizes of the same gripper, tweezers, ... that sort of thing.
They used iron to it's fullest potential, and we use computers, but the end result is the same : massive population numbers, yet the economy only justifies ~1% to maybe 5% of the population, with most of even that employed in either the government itself or the military. At some point, even slaves become a losing proposition (better to give those precious jobs to family, and keep in mind that Roman slaves had rights, and were more akin to someone holding a job. I'm not saying slaves in the Roman empire had rights comparable to Americans (they lacked voting, for example), but they certainly couldn't be killed randomly or on a whim). No goods shortages, quite the opposite : almost universal abundance (not for expensive goods, but things like food, clothing, furniture, cutlery, apartments, ... no shortages). Not that anyone was happy with just having what everyone else had, no matter how comfortable it actually was (it evolved - for the better, for almost a century). Unemployment numbers hit ridiculously high proportions and never went back down (like in the poor centers of Euro cities now, 80-90% unemployment in areas the size of towns), and ever more of the famed Roman armies were dedicated purely to keeping order in cities. Enemies, ideological ones and physical ones, which had no hope whatsoever of surviving a single confrontation with a single centuria (the unit a centurion commanded) became able to do large amounts of damage due to help from dissatisfied locals, and the situation just systematically kept getting worse.
So realistically this is just another indication that the middle ages will come back. Expect atheism, or realism in general, to lose a lot of it's appeal, because it's only message to 99% of the population will be what it was just before the dark ages :
The only useful thing you could realistically do for others is to die, right now.
1. Are we doomed, as a species with sentience and recall, to repeat the same historical mistakes over and over again?
2. This is the only "flaw" that I could find, really: While organised religion has definitely been a stranglehold over humans during the European dark ages, right now, in many parts of the World, it is not Atheism, but fundamentalism that is more and more prevalent (N.B: Lest people be mistaken, I am not talking about Islam only, or singling it out here). So, that one fell slightly off the mark for me.
3. We are also moving towards a post-peak, energy-scarce, capital-scarce, World scenario, so perhaps, these trends might themselves reverse, or die-out before reaching the kind of critical mass it reached during the Roman collapse?
But, in general, yours' is a very lateral observation, radically different from the "celebrate all things technology" article linked. Enjoyed reading it, although its suggested implications left a very bad after taste in the mouth.