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According to America’s top economist, online education might improve the standard of living of U.S residents. Chairman of White House Council of Economic Adviser, Alan Krueger predicted that the U.S can make great progress in online instruction as compared with other countries. During the Bloomberg Washington Economic Summit he also said that U.S has benefited greatly from quality higher education and has the smartest entrepreneurs in the world.
A study released on 2nd April by Bloomberg Government stated that the apparent increase in online courses offered by top universitiesmight eventually transform higher education. The popularity and approval of online courses might lower elevating college costs. He went so far as to say that colleges might even vanish away in the coming fifteen years due to persistent competition with online education.
Popular US universities offering MOOCs, or the massive open online courses, include Stanford University, Harvard University and Massachusetts Institute of Technology. According to Babson College’s Survey, uptil now only 2.6% United States institutions offer online courses, while 9.4% plan to do so in the near future.
The administrations of top colleges are collaborating with Coursera Inc. and EdX, online education providers, to provide free courses, where students from all over the world interact with top U.S. professors.
Furthermore, Princeton University’s current economics professor Krueger said that online education can help raise the standard of living, once we find the accurate format.
It has also been seen that almost 6.7 million students during Fall 2011 studied at least one course online, so the count was 9% higher than 2010, and four times higher than the count in 2002. Around one third college students took at least one online course.