Renaissance University's online education is closed; it only accepts students based on intangible qualities for success - completely removing money from the equation. This is counter-intuitive against the usual 'open course' of online education where everything is easily accessible and cheap. The fact that it is too easily obtained is what makes it not valued by students and companies alike. Renaissance University flips the equation upside down.
The application criteria for acceptance is based on a student's adaptability, response to adversity faced in life, proactivity, enterprising mentality, etc. It has rigorous and difficult application process that can only be accomplished with effort and time. This levels the playing field where coming from a high-income family does not put you any further ahead. Everybody has the same amount of hours per day. That is something that cannot be changed by money or society.
Teachers, Courses, & Curriculum
- SET ONE (WHY): The online video courses will be created in collaboration with successful entrepreneurs such as Elon Musk, Bill Gates, etc. The opening will be a recorded video narrated by this entrepreneur as it sets the tone for why the material is important. It is the mindset part.
- SET TWO (HOW): The tutorials, class interaction, workshops will be apply the concepts in most MOOCs today of interactivity. This will be the learnings of how you do what you need to do.
- SET THREE (WHAT): Applying the work is the best way it is learnt. As online courses are virtual, Renaissance University will partner with startup accelerators around the world and connect students with startups where they can learn to apply their knowledge. This also increases their work experience and network that normally lacks in online environments.
- The Renaissance University is closed. You can only be accepted by putting in time and effort into the application process displaying your drive to succeed.
- As the application process rigorously tests a student's motivation, and makes it difficult to enter, this increases the likelihood of the student graduating once they begin. It is more valuable to the student.
- Materials are created and collaborated on with successful entrepreneurs, this increases perceived value of material.
- Partner with startups and accelerators around the world to provide for mutual benefit. Startups receive free help. Students receive network, experience, and applied learning in the offline world.
The goal to remove money from the equation (or at least make it less important) is to make the landscape more equal; running with the concept that the most valuable things in life, money can't buy. That is, if even the richest kids can't get into this school by buying their way in, it will increase perceived value of this online education, and students will be more motivated to graduate.
Potential Ways To Cover Fees
1. If a student does not pay any fee, then during the course of their education, they must work for a startup that would be sponsoring their cost. In a way, they are working to gain experience but at the same time paying off their fee via the sponsoring company. The issue would be to get a sponsoring company, which is why the application process would be rigorous and focused on motivated individuals.
2. Similar to number 1, a large corporation (or group of companies) sponsors a batch of students together. Say 30 students, then these 30 students during the course of their education work on solving problems and improving the large corporation's business.
3. I don't like this one, but the price could be offset by donations, so they are scholarships.
Renaissance University does not create ground breaking content, it is changing the perception of online education. It does this by applying human psychology to increase the perceived value of its education; this makes students value it more and strive to graduate, the 'closed/exclusive' nature of it makes it more valuable to future employers/companies, and its association with startup networks makes it content more relevant to the real world.