Occupy Wall Street is a grass roots protest against big public institutions like banks, which up until recently, have been able to avoid public scrutiny regarding principles and practices that are full of internal contradictions.
In recent months, it hasn’t just been predator banks, subprime mortgages, and absurdly high interest fees that have come into the spotlight, but other once venerable institutions like higher education.
Parents of college bound students have been asking: why should we send our son or daughter to a top school when we can’t afford it, and they may not even be able to find a job on graduation and it’s likely to leave them with huge student loan that they will need to pay.
MIT has come up with a game changer idea that may permanently alter the landscape of higher education making it accessible not just to the privileged few, but to all, regardless of their academic qualifications, financial situation, or location.
The university is going to be offering a new program called M.I.T.x which will offer the online teaching of MIT courses for absolutely no charge to students on line anywhere in the world. The students will not be able to get an MIT degree, but will however get a certificate of completion, which may be worth its own weight in gold.
MIT expects the program to be a giant hit.