Some Context on Size of Higher Ed Market and Opportunity for Entrepreneurship

Very interesting piece from Good: Education (which is partnered with the University of Phoenix). See the data below for some context on the size of higher education and the room for innovation and disruptive products and services. From Cord Jefferson:

In 1973, less than a quarter of 18- to 24-year-olds were enrolled in college. But once the jobs in manufacturing and agriculture disappeared almost at once, with them went the belief that you could make it in America without a college education. In the years since, college matriculation in the United States has skyrocketed. In 2009, 70 percent of graduating seniors immediately enrolled in four-year or community college. Naturally, college prices increased exponentially. From 1982 to 2007, though median family income rose only 147 percent, college tuition and fees grew a whopping 439 percent. And for 67 percent of students, getting a four-year college degree means acquiring debt along with it.

The entire article is about free online education resources such as iTunes, MIT OpenCourseware, and P2PU. The scale of the industry, from Harvard and Berkeley to community colleges and for-profit, is mind boggling and stress is occurring in all segments.

via Skipping School: A Look at Free Higher-Education Alternatives – Education – GOOD.

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