Marketplace - American Public Media
As MIT sees it, education is a lot like the record business used to be: still producing albums, when people would rather download songs one at a time.
To put it another way, instead of offering semester-long classes, professors need to start offering individual lessons and letting students pick which ones they want.
“The very notion of a ‘class’ may be outdated,” says a new report from an MIT task force on the future of the school. “Much like a playlist on iTunes, a student could pick and choose the elements of a calculus or a biology course offered across [MIT’s online platform] to meet his or her needs.”
The report notes that 25 percent of professors and 40 percent of students believe classes could benefit from this “modular” approach.
MIT is not the only school thinking this way. The University of Wisconsin began offering MOOCs this year that offer shorter, more narrowly focused segments.
Also recommended by the MIT task force:
- Continue to expand online and blended-learning options.
- Expand the school’s certification program for online courses.
- Develop ways to use game-based learning in classes.
- Attract a more diverse group of students to MOOCs– more than 70 percent are male.
- Make the school more affordable.
- Admit more students.
Felix Salmon of Fusion and Jo Ling Kent of Fox Business News talk with about geopolitics, economics and where the two shall meet.
FICO -- the nation's leading provider of those all-important credit scores so many of us have tatooed on us -- has announced that it is changing the formula it uses to score our credit in a way that could boost the credit scores for tens of millions of Americans. More on what you need to know about your FICO credit score. Plus, things are getting tougher for military personnel who get help on their college tuition. The current rule is people getting assistance have to just pass the classes, but the government now wants them do better than that. Also, Cleveland is a sports town, be it baseball, basketball or badminton. That game is one of 35 featured in the Gay Games, which start Saturday. The international Gay Games 9 competition is expected to bring 30,000 visitors to the area. More on what some small businesses are doing to get fans into their establishments.
As of September, active service members who tap the military's tuition assistance program could be financially on the hook if they get bad grades.
Active members of the military can get up to $4,500 a year in tuition assistance. Under the current rules, they just have to pass classes they take off-duty to get tuition covered up to 100 percent, depending on the branch of the military they’re in.
But starting in early September, troops will have to earn a C or better in undergraduate classes, and a B or better in graduate work. And they can’t settle for grades of “incomplete.” Otherwise, they'll have to pay back the course tuition back.
“Tuition dollars and military student time is both limited and valuable,” says Defense Department spokesman Lt. Cmdr. Nate Christensen. “So, we want to make sure they maintain focus and have an understanding of the expectations that are required of them.”
Christensen says the Pentagon could waive the requirements in certain cases and cut soldiers slack for events like deployments.
Emma Scherer of Student Veterans of America says the threat of paying back tuition for anything less than an average grade could scare people off.
“We don't want to put roadblocks in the way of service members or veterans getting to education, and this clearly does that,” she says.
Student financial aid expert Mark Kantrowitz, publisher of Edvisors.com, says having to back-pay tuition could also disrupt service members’ long-term education plans.
“They’d either owe the military or owe the college, and that could have consequences for their ability to complete college,” he says.
The changes come as the Pentagon faces long-term budget cuts.
Corporate earnings reports for the spring quarter are mostly in by the first week in August. Overall, they paint a pretty rosy picture for America, Inc., as Bloomberg predicts profits at S&P 500 companies rose nearly 9.5 percent; sales rose more than 4 percent. So far, 75 percent of companies that have reported earned more than equity analysts predicted.
“The results have been really solid,” said chief economic strategist John Canally at LPL Financial in Boston. He said the results bode well for the second half of 2014, especially since GDP growth has picked up since the winter reversal.
Canally said companies are mostly plowing their profits back into the company; not adding to their payrolls, or investing in new plant and equipment.
“It’s mergers and acquisitions, increasing dividends, share buybacks,” Canally said. “Companies are doing what companies normally do: trying to boost share price for their shareholders. They’re just not doing a lot of hiring right now.”
Paul Ashworth, chief U.S. economist at Capital Economics in Toronto, said U.S. companies have increasing worries overseas — where a lot of their profits are earned — due to geopolitical and economic crises in Russia-Ukraine, Iraq-Syria, Israel-Palestine, Argentina, and Europe.
“Some of those geopolitical events have made people rethink how optimistic they are about the world economy over the next 12 months,” said Ashworth — Which, he said, explains some of the stock market's recent slump.