Addressing this challenge from a pure cost standpoint will address a symptom of a larger problem. The value of higher education has decreased substantially with soaring costs and an end product that has not changed significantly over the last 50 years.
Many students graduate without the skills to handle living on their own and/or adapt to changing circumstances. What's worse is that many more are graduating without the skills that employers truly find valuable or help them exceed in the workplace.
That is why udacity exists.
Employers aren't getting what they want or need. Students are coming to the workforce with minimal experience in the real-world and employers aren't leveraging that lack of experience to develop game-changing products, services or organizations.
Why are we waiting for them to contribute to society? Why are we asking them to pay even more for an outdated education?
What if we paid them to contribute to society now? What if we used that lack of experience to challenge assumptions and solve problems in ways that many of us who have been in the workforce too long are capable of? What if we provided the platform for them to teach each other?
Let's create a platform for projects and ideas that truly challenge both students, organizations and society.
Issues/Questions - sorry, no answers
how does this help lower income students?
who pays the students? how much are they paid?
how are the projects determined or obtained?
how do you get buy-in from firms? other org's?
what happens to the old model? teachers? research? institutions and campuses?