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Online Education Recession-Proof?

posted by Mark on December 3rd, 2008

With the stock market flatlining, unemployment soaring and corporations struggling to stay afloat, online education is one of the few industries that seem to be thriving.  Here are some reasons why.

  • The popularity of online classes has already been expanding steadily since the turn of the century, as more schools begin to offer classes and more students gain access to the Internet. The number of students taking at least one college course online has shot up by more than 145% since 2002, with average growth of over 20% a year.
  • Online classes generate revenue for cash-strapped schools and generate extra income for cash-strapped teachers without the cost associated with maintaining a real-world classroom setting.
  • Workers who’ve been laid off can use their new-found free time to explore other job options by earning degrees in other fields, or they can simply boost their resumes so that they can get a better position in the same industry.
  • Those who are still working but feel anxious about their security can boost their skill set by taking classes related to their field.
  • Companies looking to cut costs may resort to e-learning as a cheaper alternative to in-person training sessions that incur expenses for location and travel.
  • Despite a more stringent lending environment, the federal government has taken steps to make it easier to acquire school loans by helping to secure the loans in the secondary market for wary investors.

As more and more students enroll in online classes, more and more schools will offer them, improving the stature of online degrees and spurring even more students to enroll. This is how humans will evolve into giant pulsating brains.

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