The False Promise of the Education Revolution - College, Reinvented
By Scott Carlson and Goldie Blumenstyk Last year, leading lights in for-profit and nonprofit higher education convened in Washington for a conference on private-sector innovation in the industry. The national conversation about dysfunction and disruption in higher education was just heating up, and panelists from start-ups, banking, government, and education waxed enthusiastic about the ways that a traditional college education could be torn down and rebuilt—and about how lots of money could be made along the way. During a break, one panelist—a banker who lines up financing for education companies, and who had talked about meeting consumer demands in the market—made chitchat. The banker had a daughter who wanted a master's in education and was deciding between a traditional college and a start-up that offered a program she would attend mostly online—exactly the kind of thing everyone at the conference was touting. Read beneath the headlines a bit. A 'Mass Psychosis' Unfortunately, Mr.