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The Higher Education Bubble [Reynolds]

On 06/11/2012, in cost of getting a degree, dangers of the status quo, Daniel S. Christian, disruption, future of higher education, game-changing environment, higher education, leadership, legislatures / government / legal, New "Amazon.com" of Higher Education, staying relevant, strategy, surviving, United States, by Daniel Christian

The Higher Education Bubble

Book Description
Publication Date: June 26, 2012

America is facing a higher education bubble. Like the housing bubble, it is the product of cheap credit coupled with popular expectations of ever-increasing returns on investment, and as with housing prices, the cheap credit has caused college tuitions to vastly outpace inflation and family incomes. Now this bubble is bursting.

In this Broadside, Glenn Harlan Reynolds explains the causes and effects of this bubble and the steps colleges and universities must take to ensure their survival. Many graduates are unable to secure employment sufficient to pay off their loans, which are usually not dischargeable in bankruptcy. As students become less willing to incur debt for education, colleges and universities will have to adapt to a new world of cost pressures and declining public support.

About the Author
Glenn Harlan Reynolds is the Beauchamp Brogan Distinguished Professor of Law at the University of Tennessee. He writes for such publications as The Atlantic Monthly, Forbes, Popular Mechanics, The Wall Street Journal, and the Washington Examiner. He blogs at InstaPundit.com.

Also see:

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From DSC:
Note many of the relevant categories and tags I put this under — items I’ve been covering for years:

  • Walmart of Education
  • Cost of obtaining a degree
  • Reinventing oneself
  • Dangers of the status quo
  • Game-changing environment
  • Future of higher education
  • Leadership
  • Strategy
  • Staying relevant
  • Disruption
  • Surviving

 

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7 things colleges worry about [O’Shaughnessy] and associated whitepaper from Lawlor

On 06/02/2012, in budgets, colleges, dangers of the status quo, Daniel S. Christian, disruption, game-changing environment, reinvent, staying relevant, by Daniel Christian

7 things colleges worry about –– from CBSNews.com by Lynn O’Shaughnessy

Excerpts from “What’s worrying college administrators?”

  1. After peaking in 2008, the number of high school students has been declining slowly.
  2. While high school grads in the West and South have remained mostly stable, the number of teenagers has declined significantly in the East and Midwest.
  3. Between 2000 and 2010, the real median income for families dropped nearly 11 percent.
  4. High unemployment remains persistent.
  5. Many families owe more on their mortgages than their homes are worth.
  6. With flat and falling income and high unemployment, many American families are poorer now than they were five years ago.
  7. Looking further into the future, the financial reality for younger families (ages 25 to 34), who will eventually be sending their children to college, is grim.

Also see the below items from Lawlor.com

From DSC:
Just looking at the title one of the above items — “When Market Conditions and Public Perception Collide: A Looming Crisis for Higher Education” (by Amy Foster) — those of us working within higher education don’t want to be in the “Have you driven a Ford lately?” mode. That is, once we lose the public’s confidence and trust in our products and/or services, it will be very hard to get those things back. Not impossible, but difficult.

Two additional thoughts here:

  • Reputation, like china, is easily cracked and hard to mend.
  • There is tremendous and lasting power in the ideas and perceptions that reside within people’s thoughts. Once an idea catches hold, it’s hard to stop.

 

 

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Reflections on “A generation hobbled by the soaring cost of college” [Martin & Lehren]

On 05/14/2012, in cost of getting a degree, dangers of the status quo, Daniel S. Christian, reinvent, staying relevant, by Daniel Christian

A generation hobbled by the soaring cost of college

My thanks to Academic Impressions who sent out the above item and the interactive graphic below.

 

From DSC:
I am not posting these to put down liberal arts colleges/universities/programs.  In fact, I went through a liberal arts program in college and I’m currently working at a liberal arts college.  Rather, I’m posting them to say, “Houston, we have a problem.”  And to then prompt us all to ask, “What are we going to do about it?” 

Which reminds me again of a graphic I created a while back:

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Daniel S. Christian: My concerns with just maintaining the status quo

 

 

Addendum on 5/15/12:

 

Andrew Spear for The New York Times

E. Gordon Gee, the president of The Ohio State University, says that public colleges and universities need to devise a new business model to pay for the costs of education, beyond sticking students with higher tuition and greater debt.

COLUMBUS, Ohio — In a wood-paneled office lined with books, sports memorabilia and framed posters (including John Belushi in “Animal House”), E. Gordon Gee, the president of Ohio State University, keeps a framed quotation that reads, “If you don’t like change, you’re going to like irrelevance even less.”

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The Campus Tsunami [Brooks]

On 05/04/2012, in 21st century, change, changing business models, dangers of the status quo, Daniel S. Christian, disruption, education technology, future of higher education, game-changing environment, higher education, innovation, Learning from the Living [Class] Room, New "Amazon.com" of Higher Education, new business models, online learning, staying relevant, surviving, by Daniel Christian

The Campus Tsunami — from The New York Times by David Brooks

Excerpts:

But, over the past few months, something has changed.The elite, pace-setting universities have embraced the Internet. Not long ago, online courses were interesting experiments. Now online activity is at the core of how these schools envision their futures.

…

What happened to the newspaper and magazine business is about to happen to higher education: a rescrambling around the Web.

From DSC:
What David Brooks said in this last bolded sentence (above) is what I have been saying, but in a slightly different way:

Other industries have been up to bat, and the Internet was pitching.  Higher education used to be on deck. But now, higher education is at bat.

 

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The “Innovator’s Dilemna” strikes again; another solid example of the need to reinvent one’s organization.

On 05/02/2012, in business, change, corporate / business world, dangers of the status quo, Daniel S. Christian, higher education, reinvent, staying relevant, surviving, by Daniel Christian

Sayonara Sony: How industrial, MBA-style leadership killed a once great company — from forbes.com by Adam Hartung

Excerpt:

Who can forget what a great company Sony was, and the enormous impact it had on our lives?  With its heritage, it is hard to believe that Sony hasn’t made a profit in 4 consecutive years, just recently announced it will double its expected loss for this year to $6.4 billion, has only 15% of its capital left as equity (debt/equity ration of 5.67x) and is only worth 1/4 of its value 10 years ago!

 

From DSC:
Blockbuster, Kodak, and now Sony — and I’m sure there are countless others who have moved in and out of prosperous times — but those three come instantly to my mind as more recent examples of The Innovator’s Dilemna — which strikes again!

It reminds me of a Steve Jobs’ quote (and I’ll use the item found at Yastrow.com)

One of Jobs’ business rules was to never be afraid of cannibalizing yourself. “If you don’t cannibalize yourself, someone else will,” he said. So even though an iPhone might cannibalize the sales of an iPod, or an iPad might cannibalize the sales of a laptop, that did not deter him.

 

Addendum (with emphasis from DSC):
Another thought comes from Guy Kawasaki’s talk at TEDxHarkerSchool entitled, “The 12 Lessons I Learned from Steve Jobs”

  • You need to jump to the next curve — don’t duke it out w/ others on the current curve (DSC: Like from the book Jonathan Livingston Seagull...don’t fight it out on the beach with the other seagulls. Instead, learn how to fly. <– that’s been my prayer, LORD teach me how to fly.)
  • Customers cannot tell you what they need  — they can only describe things in terms of what they already have; bigger, faster, cheaper, status quo
  • Challenging your mind is a sign of intelligence  (DSC: Reinvent, staying relevant, be able to completely reverse a viewpoint, cannibalizing own business)
  • “Experts” are clueless
  • The biggest challenges beget the best work
  • Design counts
  • Use big graphics and big fonts
  • Value does not equal price

 

 

 

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Everybody’s worried now [Kiley]

On 04/11/2012, in changing business models, cost of getting a degree, dangers of the status quo, Daniel S. Christian, future of higher education, game-changing environment, higher education, Learning from the Living [Class] Room, New "Amazon.com" of Higher Education, reinvent, staying relevant, strategy, surviving, by Daniel Christian
Everybody’s worried now — from InsideHigherEd.com by Kevin Kiley
Excerpts:

EASTON, PA. — A year ago, the notion that Smith College — with a $1 billion endowment, high student demand, and frequently cited educational quality — was raising existential questions, particularly about its economic model, seemed a fairly radical notion.

But an idea that seemed striking in the past  — that elite liberal arts colleges might have to make significant changes in the next few years if they are to remain relevant (or present) in the current educational market — is now the hottest topic in the sector.

A conference this week here at Lafayette College entitled “The Future of the Liberal Arts College in America and Its Leadership Role in Education Around the World,” drew more than 200 college administrators, including about 50 college presidents, out of an invite list of U.S. News and World Report’s list of top national liberal arts colleges. Judging by the turnout, the discussion, and the fact that several other conferences addressing these questions are scheduled over the next few months, it’s clear that the questions are on everybody’s mind.

…

In his opening talk Monday night, Lafayette President Daniel H. Weiss laid out four major challenges facing liberal arts colleges — affordability, public skepticism about the value of a liberal arts degree and college in general, decline in the share of U.S population who fit the demographic patterns of students who traditionally attend liberal arts colleges, and questions about how to incorporate technology into the college and serve a generation of students that is increasingly networked — most of which was addressed in various forms throughout the day Tuesday.

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From DSC:
Many people haven’t liked the messages that I’ve been trying to get across these last several years:

  • That the price of higher education is too high.
  • These high prices have changed — and continue to change — the dynamics of our classrooms across America (and inside our students’ heads/thinking).
  • The predominant business models are not sustainable.
  • We are in a game-changing environment and the perfect storm continues to develop.
  • We must reinvent ourselves to stay relevant and helpful to future generations. The costs of not doing so are enormous and truly have life-long impact.
  • We need to experiment with new business models.
  • There is danger in the status quo.
  • That far more affordable means of obtaining an education are going to continue to materialize (and then asking, what do we want to do about this? How can we ride this wave and not get crushed by it?)
  • The future will have team-based content with extensive analytics — being enabled by a growing set of powerful technologies.

I am encouraged by this conference — and the turnout of 200 college admins and 50 college presidents — because it appears that this perfect storm within higher ed is now being taken more seriously.

Also relevant:

  • The world changed, colleges missed it — from The Huffington Post by Tom Vander Ark
    Excerpt:
    A bunch of colleges are going out of business, only they don’t know it. They pretend that trimming costs and jacking tuition is a solution. They haven’t come to terms with a world where anyone can learn anything almost anywhere for free or cheap.
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In U.S., while the real median household incomes continue to decrease, tuitions continue to increase.

On 04/10/2012, in cost of getting a degree, dangers of the status quo, Daniel S. Christian, economics, higher education, New "Amazon.com" of Higher Education, staying relevant, United States, by Daniel Christian

 

"The American Dream: Fraying of the Folklore" San Francisco Chapter of the National Association of Business Economics. February 29, 2012

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From DSC:

Note the troubling picture here for higher ed — the real median household income continues to decrease in the last several years, yet in those same years, there have still been increases in the cost of tuition.  That is, I’ll bet the going rates of higher ed degrees in California are not at their 1998 prices/levels.

 

Staying Relevant

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Also see:

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Has the higher ed bubble started to pop? If so, why are changes/innovations not more frequent?

On 04/09/2012, in 21st century, accreditation, business side of he, change, changing business models, colleges, dangers of the status quo, Daniel S. Christian, future of higher education, game-changing environment, higher education, innovation, Learning from the Living [Class] Room, New "Amazon.com" of Higher Education, new business models, organizational change, reinvent, smart/connected TV, staying relevant, surviving, universities, by Daniel Christian

From DSC: First, some articles that caused these reflections

Discounting heads — from insidehighered.com by Kevin Kiley

Excerpt:

Despite spending nearly 43 percent of their gross tuition revenue from first-time, full-time freshmen on institutional aid for those students, many private colleges and universities had a harder time enrolling students last year, with almost half seeing no growth or a decline in enrollment for 2011, according to survey results released today by the National Association of College and University Business Officers.

From DSC:
It seems to me that it’s highly-possible that the higher ed bubble has started to pop — at least at private colleges and universities. So why doesn’t change occur? See the next article for several reasons.

Failure to change — from insidehighered.com by Robert J. Sternberg

Excerpts:

Universities teach about the importance of societal and organizational change, but often have trouble changing themselves in any but the most superficial ways. As a psychology professor interested in both individual and organizational modifiability, I have studied organizations, including universities, and why it is so difficult for them to change. Meaningful organizational change requires five elements, and unless all five of them are present, the organization — whether a department, school, college, or university — remains static.
…
Change is not always for the better, of course. But a college or university that is static will inevitably fall behind more dynamic, positively changing institutions. And like any institution that fails to compete, it is on the path to stagnation or death. A dynamic institution will change and, if the change proves to be in the wrong direction, will redirect itself until it finds a sustainable path.

From DSC:
As a relevant aside, it’s not just the “younger folk” who are struggling with student loans either:

Student loans saddle both kinds of seniors: graduates and grandparents — from the Washington Post by Michelle Singletary

Excerpt:

Using data from Equifax credit reports, the Federal Reserve Bank of New York found that people 50 and older are carrying nearly $135 billion in student-loan debt. Those 60 or older have student-loan balances of more than $36 billion.

 

It’s these types of dynamics and trends that are catalysts for what I call:

“Learning from the Living Room”
Though 2-5 years away, signs point to it coming to fruition (my prediction is that this movement will really gain traction when Apple’s Connected/Smart TV hits the market and as more people get fed up with the current, unresponsive accredidation monopolies within higher ed). Some example/recent articles:

  • The Evolution of the Digital Living Room — from digitalvideospace.blogspot.com by Chuck Parker
    Excerpt:
    Apple with its iPad, Apple TV and iCloud for movies and TV shows has delivered a seamless ecosystem to the consumer’s digital living room for owning and watching content from multiple devices in the home. The rest of the industry (SmartTVs, connected devices, Android tablets) struggles to create a similar experience when they are a single-brand ecosystem and fail miserably when there are devices from multiple manufacturers in the household.
    .
  • Google and Microsoft’s new battleground: Your living room — from ComputerWorld by Preston Gralla
    The upshot will have surprising implications for IT
    .
  • Why the future of Shazam is TV, not music — from readwriteweb.com by Richard MacManus
    Excerpt:
    Shazam is in the midst of a major pivot. Currently it earns most of its revenue off advertising from the music app. But within two years, the company told ReadWriteWeb, TV will provide the majority of Shazam’s revenue. Just how big an opportunity is TV for Shazam? According to statistics from the company, it is already outpacing both Facebook and Twitter in second screen user engagement.

“The Forthcoming Walmart of Education” …which is already happening, but far more significant changes will come in the next 1-5 years as people look for more affordable alternatives. A graphic I created back in 2008 states what I see developing and will be a piece of the higher ed landscape in the future:
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Besides the items mentioned above (i.e. changes in price and delivery mechanisms),
what might some of these innovations look like? Here are some ideas/articles/examples:

  • Be more responsive to real-world/market needs
    Example:
    12 college majors we hope to see soon     — from bestcollegesonline.com
    While some college majors have been around for decades or even centuries, others are relatively new and some are still waiting on the horizon to be added to college programs around the world as new technologies and demands shape the needs of modern students. While a host of degree programs have been added over the past 10 or 20 years, many related to computers and other forms of technology, many more will be needed in the future to keep up with a world that is rapidly changing.
    .
  • Introduce more innovations and be willing to experiment with different models
    Examples besides MITx, Udemy, U of People, iTunes U, YouTube Edu, etc.:
    ANGELS, a new European research project, a gateway to the future.
    ANGELS project (Augmented Reality Network Generating Learning on Safety), is the training system that will revolutionize education and learning on safety and health at work, particularly in the hospital facilities. This tool aims at innovating in terms of training on health and safety at work with the use of augmented reality (computer system that can superimpose 3D image on a real image to combine real and virtual). ANGELS introduces 4 key innovations: A practice adapted to an innovative new technology, a realistic assessment in tune with the XXIst century in the area of education and training, a large field of application in the health care facilities and the creation of a starter kit for public and private organizations, training centers and academic centers.
    .
  • …and bring the prices WAAAY down!!!

 

 

 

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Items re: changing business models within higher ed & the “disruptive innovation” theory

On 04/03/2012, in business side of he, change, changing business models, dangers of the status quo, Daniel S. Christian, future of higher education, game-changing environment, higher education, innovation, leadership, reinvent, staying relevant, strategy, surviving, by Daniel Christian

Rethinking higher education business models — from americanprogress.org by Robert Sheets, Stephen Crawford, Louis Soares

Excerpt:

The theory of “disruptive innovation“—the notion that certain innovation can improve a product or service in such a way that it creates new markets that displace existing ones—was developed and advanced by Christensen in the 1990s. According to Christensen, who has studied the evolution of many industries, disruptive innovation occurs when sophisticated technologies are used to create more simplified and more accessible solutions to customers’ problems—solutions that are often less high performing than previous technologies but whose price and convenience attract whole new categories of consumers. The first generations of transistor radios, desktop computers, and MP3 players are examples. These new solutions—innovations to existing technologies deployed through new business models—gradually improved to the point where they displaced the previously dominant solutions. Christensen’s key point, however, is that new technologies like these cannot achieve their transformative potential without compatible changes in their industry’s business models and value networks, which in turn may require shifts in the standards and regulatory environment.

From DSC:
Given the current rumblings of massive changes that are about to take place (if they haven’t already) within the higher education landscape, each person within higher education that has key strategic and leadership responsibilities should be required to read the two books mentioned below. I assert this because these world-class researchers and authors have discovered and documented phenomenon that is affecting all of higher education at this point in time. Understanding the concepts in these books will help your college or university not only survive — but thrive — in the future.

  • The Innovator’s Dilemma — by Clayton M. Christensen
    Clayton M. Christensen is the Robert and Jane Cizik Professor of Business Administration at the Harvard Business School. Christensen is also co-founder of Innosight, a management consultancy; Rose Park Advisors, an investment firm; and Innosight Institute, a non-profit think tank. He is the author or coauthor of five books including the New York Times bestsellers The Innovator’s Dilemma, The Innovator’s Solution and most recently, Disrupting Class.
    .
  • Disrupting class, expanded edition: How disruptive innovation will change the way the world learns — by Clayton Christensen, Curtis W. Johnson, Michael B. Horn.

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Also:

From DSC:
That article reminds me of a posting on my archived site from 4/11/09:

Let’s reallocate funds towards course development, and then let’s leverage those learning materials throughout the world!

 

Reallocate funds to course development, and bring costs WAAAAYYYY down and ACCESS WAAAYYY UP!

For students: Bring costs waaaayyyyy down and access waaayyy up!
Plus, no more defaulted loans, students could experience richer content, students wouldn’t have to wait as much on financial aid decisions. There would be fewer financial aid headaches; and the resources devoted to figuring out & processing financial aid could be reduced. The issue will be how an institution can differentiate itself in such a new world…but that issue will have to be dealt with in the future anyway.

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Items re: the connected living room; relates to what I call a future “learning from the living room” environment

On 04/02/2012, in 21st century, 24x7x365 access, 3D, A/V -- audio/visual, analytics, Apple, Artificial Intelligence/Agents/LLMs/and Related, business side of he, changing business models, cloud-based computing / apps / other cloud-related, convergence, corporate universities / corporate training, dangers of the status quo, Daniel S. Christian, digital audio, digital learning, digital storytelling, digital textbooks, digital video, disruption, distance education, e-books, e-publishing related items (EPUB and more), education technology, educational games / serious games, elearning, emerging technologies, engagement / engaging students, flipping -- inverted learning, future of higher education, game-changing environment, higher education, homeschooling/homeschoolers, human-computer interaction (HCI), innovation, intelligent tutoring, interactivity, internet, K-12 related, learner profiles, learning agents, learning ecosystem, Learning from the Living [Class] Room, mirroring and/or multiple devices, multimedia, New "Amazon.com" of Higher Education, new business models, new media literacies, online learning, online media, online tutoring, personalized/customized learning, podcasting, reinvent, smart/connected TV, social learning / networks, staying relevant, streams of content, student-related, teaching & learning, teaching online, technologies for your home, telepresence, television, the downsides of how people use tech, transmedia, trends, videoconferencing, virtual field trips, virtual K-12 schools, Virtual Reality (VR) / worlds / learning, virtual tutoring, by Daniel Christian

The human voice, as game changer — from nytimes.com by Natasha Singer


Matthew Cavanaugh for The New York Times
Vlad Sejnoha demonstrated Nuance’s Dragon TV system, which obeys spoken commands to
flip channels, for example, or shop on screen on Amazon.com.

Apple’s iCloud will teach Apple’s Smart TV remote new tricks — from patentlyapple.com

6 answers about your next TV, with or without Apple — from forbes.com by Michael Humphrey

10 tech commandments for the TV industry — from thenextweb.com by Martin Bryant

Smart TVs are growing in popularity — from business-news.thestreet.com by Steve Adams

smartTV Quincy gh 032112-284-wihr.jpg

Image from Gary Higgins/The Patriot Ledger

Paul Berrini, a salesman at Hancock T.V.& Appliance in Quincy, demonstrates
some of the new features of “smart” televisions, Wednesday, March 21.

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10 AirPlay-ready iPad apps that make Apple TV worth it — from  readwriteweb.com by John Paul Titlow

Entertainment and Streaming Media – The Recent Past and the Future — from homesystemintegration.com by Alan Ruby

Connected Living Room 1

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TVs may soon be used to spy on you — from smartplanet.com by Tuan C. Nguyen

 

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The potential of cloud-based education marketplaces [Christian]

On 03/27/2012, in 21st century, 24x7x365 access, adult learning, cloud-based computing / apps / other cloud-related, content development, aggregation, repositories, convergence, corporate / business world, Daniel S. Christian, digital learning, emerging technologies, homeschooling/homeschoolers, innovation, internet, learning ecosystem, Learning from the Living [Class] Room, lifelong learning, marketing/social marketing, mirroring and/or multiple devices, reinvent, smart/connected TV, social learning / networks, staying relevant, streams of content, technologies for your home, trends, by Daniel Christian

The potential of cloud-based education marketplaces — from evoLLLution.com (LifeLong Learning) by Daniel Christian; PDF-based version here

Excerpt:

Such organizations are being impacted by a variety of emerging technologies and trends – two of which I want to highlight here are:

  • Online-based marketplaces – as hosted on “the cloud”
  • The convergence of the television, telephone, and the computer

One of the powerful things that the Internet provides is online-based marketplaces. Such exchanges connect buyers with sellers and vice versa. You see this occurring with offerings like Craig’s List, e-Bay, PaperBackSwap.com, and others.

 

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Education 2.0 isn’t coming. It’s here. And the way you’re educated will be changed forever. [Balter]

On 03/26/2012, in accreditation, assessment, career development, change, changing business models, cost of getting a degree, dangers of the status quo, Daniel S. Christian, New "Amazon.com" of Higher Education, new media literacies, reinvent, social learning / networks, staying relevant, workplace, by Daniel Christian

Education 2.0 isn’t coming. It’s here. And the way you’re educated will be changed forever. — from bostinno.com by Dave Balter

Excerpt (emphasis DSC):

Sometime in late 2010, I sat down with angel investor Josh Abramowitz in NYC.  I asked him to invest in Smarterer, a business whose purpose was to validate people’s digital, social and technical skills.  What I encountered for the next hour wasn’t someone merely evaluating my specific business concept – it was an attack on the entire higher education system.

Josh argued that our higher education system was on the verge of crumbling.  Not because there weren’t marvelous educators or exceptional institutions, but because colleges and universities were charging exorbitant sums that weren’t equal to the return.  Our educators were burying our students with tremendous debt. But increasingly sophisticated learning and credentialing opportunities were emerging online, and they were free or nearly free.  And this disparity would lead to a full-fledged education revolution, he predicted.

…

What the Universities need to know is that what’s coming for education is something like the shift the music industry failed to see until it was too late.  Things will never be the same again.  Instead of griping about how hard it will be to tap their endowments to pay for education, they should be thinking about how to take advantage of the changes.

To save their universities, here’s the three-pronged ecosystem that every University Leader should start thinking about…

Also see:

smarterer.com -- show what you know

 

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Student-loan debt tops $1 trillion [Mitchell and Jackson-Randall]

On 03/22/2012, in budgets, business side of he, changing business models, cost of getting a degree, dangers of the status quo, Daniel S. Christian, disruption, future of higher education, game-changing environment, higher education, innovation, leadership, Learning from the Living [Class] Room, New "Amazon.com" of Higher Education, new business models, reinvent, staying relevant, student-related, surviving, trends, United States, vision/possibilities, by Daniel Christian

Student-loan debt tops $1 trillion — from WSJ.com by Josh Mitchell and Maya Jackson-Randall

Excerpt:

The amount Americans owe on student loans is far higher than earlier estimates and could lead some consumers to postpone buying homes, potentially slowing the housing recovery, U.S. officials said Wednesday.

Total student debt outstanding appears to have surpassed $1 trillion late last year, said officials at the Consumer Financial Protection Bureau, a federal agency created in the wake of the financial crisis. That would be roughly 16% higher than an estimate earlier this year by the Federal Reserve Bank of New York.

From DSC:
Phrases/words that come to my mind include (which many readers of this blog and my archived website will instantly recognize:

  • Reinventing ourselves
  • Staying relevant /addressing our customers’ needs
  • Innovation
  • Strategy
  • Leadership
  • Vision
  • The business side of higher ed / new business models
  • Game-changing environment
  • Disruption
  • Dangers of the status quo
  • Student-related
  • Future of higher education
  • The Walmart of Education
  • Learning from the Living Room

Addendum on 3/23/12:

 

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Lifelong learning ecosystems!!! A powerful vision for our future [Daniel Christian]

On 03/14/2012, in 21st century, 24x7x365 access, A/V -- audio/visual, accreditation, active learning, adult learning, analytics, Apple, blended learning, business side of he, changing business models, cloud-based computing / apps / other cloud-related, CMS/LMS, content development, aggregation, repositories, convergence, corporate / business world, corporate universities / corporate training, cost of getting a degree, dangers of the status quo, Daniel S. Christian, digital learning, digital textbooks, disruption, distance education, e-publishing related items (EPUB and more), education technology, educational games / serious games, elearning, emerging technologies, engagement / engaging students, face-to-face, future of higher education, game-changing environment, higher education, homeschooling/homeschoolers, innovation, intelligent systems, intelligent tutoring, interactivity, internet, K-12 related, learner profiles, learning agents, learning ecosystem, Learning from the Living [Class] Room, learning spaces, lifelong learning, love of learning, machine-to-machine communications, marketplaces, mirroring and/or multiple devices, mobile learning, mobile technologies, MOOCs -- Massive Open Online Courses, multi-touch, multimedia, Near Field Communication (NFC), New "Amazon.com" of Higher Education, new business models, online learning, online media, online tutoring, passions, personalized/customized learning, reinvent, smart classrooms, smart/connected TV, social learning / networks, social media, staying relevant, student-related, surviving, teachers, teaching & learning, teaching online, technologies for your home, telepresence, television, training / L&D, transmedia, trends, ubiquitous learning, videoconferencing, virtual field trips, virtual K-12 schools, Virtual Reality (VR) / worlds / learning, virtual tutoring, vision/possibilities, web-based collaboration, webinars, workplace, by Daniel Christian

From DSC:
The vision below involves:
(click on the image below to access it) 

  • The convergence of the telephone, the television, and the computer
  • Cloud-based education stores/marketplaces/exchanges
  • Second screen devices and machine-to-machine communications
  • Social networking/learning
  • Smart classrooms/learning spaces
  • Content recognition/synchronization applications
  • Apps as “channels”
  • Web-based learner profiles
  • Video overlays
  • New business models in higher ed
  • New jobs/needs for the future
  • A new way for employers to hire highly-effective employees/contractors/consultants
  • …and more

 

Click this thumbnail image to access the larger image / vision

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Beyond the college degree, online educational badges [Lewin]

On 03/12/2012, in career development, dangers of the status quo, future of higher education, game-changing environment, MOOCs -- Massive Open Online Courses, new business models, open courseware and systems, reinvent, staying relevant, workplace, by Daniel Christian

Beyond the college degree, online educational badges— from the New York Times by Tamar Lewin

Excerpt:

With the advent of Massive Open Online Courses and other online programs offering informal credentials, the race is on for alternative forms of certification that would be widely accepted by employers.
…
By the end of this year, Mr. [David] Wiley predicted, it will become familiar to hear of people who earned alternative credentials online and got high-paying jobs at Google or other high-visibility companies.

 

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