Self Learning: The New Master's Degree

SELF-LEARNINE A The New H MASTER'S DEGREE Consider this: 75 percent of people living in the U.S. think college is too expensive, and only 19 percent of college presidents think higher education in the U.S. is the best in the world. College itself may be scoring an F, which is why so many youths are signing up for a new professor: the Internet. Degree Or No Degree? That Is The Question The career path of a college grad isn't as secure as it used to be, nor is college a top priority. What is extremely important for a young person to have in order to succeed in the world? Percent of respondents 61% 57% 42% Knowledge of how to get along with people Good work ethic College education DEBT:WHY STUDENTS DOUBT THEIR INVESTMENT What are students saying when they leave college with a significant debt burden? Percent of respondents 48% 25% 24 It made the process of buying It had an impact on career choices. The higher education system in the United States fails to a home more difficult. provide students with good value for their money. The Hard Facts The estimated average debt $27,000 GRADUATED WITH DEBT. PER STUDENT WHO for the class of 2011 was AS OF 2012, STUDENT LOAN DEBT HAS PASSED THE $730 $693 BILLION $1 TRILLION BARRIER, $1 TRILLION + BILLION far exceeding credit card debt and debt on automobile loans in the U.S. Student Debt Auto Loan Debt Credit Card Debt 25 PERCENT of college graduates are working at jobs that don't even require a degree. NEARLY 2 IN 25 people age 25 and over have a master's, which is roughly the same proportion that had a bachelor's or higher in 1960. Of the 30 jobs projected to grow at the ONLY 2 TYPICALLY REQUIRE A fastest rate over the next decade in the U.S. COLLEGE DEGREE OF ANY KIND. No Jobs, No Degrees A quick look at the MBA, one of the nation's most popular master's programs, shows us how tuition costs have significantly outpaced starting pay for students who graduated from these universities. Percentage of increase in pay for employees with an MBA, from 2001 to 2010 Percentage of increase in cost of an MBA, from 2001 to 2010 20% Stanford 32% 10% 31% 16% Wharton 41% Harvard 17% 49% Kellogg 20% Chicago 43% 8% Columbia 71% MIT 19% MIT SloR 45% 10% Dartmouth 67% 22% Berkley 90% New York 18% Virginia 69% D NYU 18% 66% 18% University 44% Duke Carnegie 10% Cornell 64% CM 11% Michigan 55% University 8% Mellon 102% UNC Univ. of Cal North 12% 66% Caroline UCLA 18% Los 135% 6% 45% Angeles Emory 12% Texas 140% Straight to the Top...With No Degree? Taking their cues from many thinkers and entrepreneurs who dropped out of college (or just plain never went), many people are now plugging into the wide range of self-learning tools found on the Internet. College dropouts turned rich and famous entrepreneurs: Divine Bradley, Steve Jobs, Apple $7 billion (estimated just prior to his death) Richard Branson, Mark Zuckerberg, Virgin Net Worth: $4.2 Billion Facebook Team Revolution $17.5 Billion Unknown & Jake Nickell, David Geffen, Bill Gates, Microsoft $62 billion Jeffrey Kalmikoff, Threadless Dreamworks SKG $300 million Unknown $5.5 billion "THE SELF-MOTIVATED LEARNER WILL BE ON THE WEB. AND THERE WILL BE FAR LESS PLACE-BASED [COLLEGE] THINGS...COLLEGE-EXCEPT FOR THE PARTIES–NEEDS TO BE LESS PLACE-BASED." BILL GATES LEARNING CAN BE DONE ANYWHERE, ANYTIME, AT LITTLE TO NO COST. TODAY, MORE THAN EVER, THE MEDIUM OF LEARNING DOESN'T MATTER. AN EXPERT ISN'T DEFINED BY HIS OR HER DEGREE, BUT RATHER BY WHAT THEY HAVE LEARNED AND HOW THEY HAVE PUT THIS KNOWLEDGE INTO PRACTICE. SOURCES: PEWSOCIALTRENDS.ORG, DAILYTECH.COM, GOOD.IS, NYTIMES.COM, HUFFINGTONPOST.COM, POETSANDQUANTS.COM, USATODAY.COM, WASHINGTONPOST.COM udemy