1.We should provide free online college education to the world
- We should go to very major university and find the best professor in each area of study.
- We should not charge people to get the education but charge them to take a test to get credit for having passed the course.
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- This would allow them to get a degree from this university.The test must be graded and require a real understanding fo the material to pass so that a degree from this university is highly regarded throughout the world.
- We should charge them about $300 per course for the test. This would be about what I paid 50 years ago to the University of Maryland.
- 50% should go to the university of the school where the professor work
- I would like a portion of that to go to the professor for being selected as the top of his/her profession
- I would like the schools to include Harvard Yale Stanford and Princeton. It should include all the top universities in the United States. I want this education to be looked at as a very high quality degree.
- The schools will now have access to 5 billion people not just 350 million in the United States. This should result in a financial windfall for the universities
- It should not have any adverse impact on enrollment since people will still want to go to universities for the prestige of getting a degree from places like Harvard as well as college experience.
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- We should limit the amount people can borrow based on their major. College tuition has risen to $50,000 per semester because students can borrow $50,000 per semester.
- This created high risk loan with an outsized chance of default. This creates systemic risk and an increased chance of default. No bank would underwrite and approve a loan for $50,00 per semester for an art major. It is only because the government guarantees these loans that they are available.
- If we lower the amount students can borrow it will lower the amount universities will charge for tuition.
