The average price tag for a bachelor's degree has shot up to more than $100,000. Spending four years on campus often leaves young people or their parents weighed down with big debts, a burden not only on their personal finances but on the overall economy. And many people worry that even as the cost of higher education has risen, its quality has fallen. Dropout rates are often high, particularly at public colleges, and many graduates display little evidence that college improved their critical-thinking skills. Close to 60 percent of Americans believe that the country's colleges and universities are failing to provide students with "good value for the money they and their families spend," according to a 2011 survey by the Pew Research Center. Proponents of MOOCs say the efficiency and flexibility of online instruction will offer a timely remedy.
Adjusted for inflation, my college education cost just under 17 grand. But what costs $100,000 today would have cost just under 15 grand then. But at least I got my money's worth.