For many young professionals massive open online courses (mooc) provide a viable alternative to graduate education- particularly in business and education. Moocs, or open license online courses, let students complete full degree course loads on their own time, for free. Courses consists of lectures, online quizzes and exams compiled from compiled from top tier universities. This compilation affords students access to the best lectures from the best institutions, while the open access allows students to tailor their education to their needs.
For many, including the manager of nopaymba.com Laurie Pickard, who cannot afford to complete a MBA but want to expand their knowledge and skill bases, moocs are a fantastic option. Since being introduced in 2008 the number of non-profit and commercial mooc vendors have skyrocketed in order to meet exploding demand.
However, Moocs are not without their downsides. In addition to high secondary costs (including textbooks and secondary material), no opportunities for applied education, and little engagement with professors, the completion of a Mooc program doesn’t convey a degree. Additionally, the average mooc program has less than a 10% completion rate, with most students failing to complete a single course. That being said, for dedicated professionals seeking to gain a set of skills, update their expertise, or stand out in job applications, Moocs are an increasingly viable and affordable option.
Logan Billman is the IFAMA Intern