The number one paradox in higher education is that technology is both transforming and disrupting universities around the world. Institutions that adapt to the technology and become content producers will survive and flourish; those confined to being content consumers will struggle to stay in business.
Many colleges and universities are in financial difficulty today: According to an article in The New York Times, Moody’s Investors Service estimates that the number of four-year nonprofit colleges going out of business could triple (from five to 15 per year) over the next few years, and the merger rate will more than double from two or three today. The inability to keep up with technology-enhanced teaching and learning will only exacerbate the problems of financially challenged colleges.
The article reminds me of an article from Mark Cuban 4 years ago.
As an employer I want the best prepared and qualified employees. I could care less if the source of their education was accredited by a bunch of old men and women who think they know what is best for the world. I want people who can do the job. I want the best and brightest. Not a piece of paper.
The competition from new forms of education is starting to appear. Particularly in the tech world. Online and physical classrooms are popping up everywhere. They respond to needs in the market. They work with local businesses to tailor the education to corporate needs. In essence assuring those who excel that they will get a job. All for far far less money than traditional schools.
Plus we have the oncoming robot revolution.