Is a Declining Economy Good for Virtual Education?

Piggy bank

In an economy that has experienced rampant unemployment, a housing market crisis, astronomical gas prices, and governmental deficits not witnessed in many decades, millions are undoubtedly feeling the “pinch”.

People are being forced to do more with less, and to find creative ways to save where possible. Still, a down economy doesn’t translate to doom and gloom in all areas. There are a few “up-sides” even amid a down economy.

This is particularly witnessed in the area of virtual education. The need to improve one’s financial outlook, marketability, and quality of life has in fact fueled online enrollment. According to a recent piece reflected at Salary.com the Sloan Consortium revealed that online college enrollment has increased by 13% in  the last year.

Here are a few contributing factors to consider:

  • Virtual schools are seen as an alternative for public high schools with fewer offerings and growing budgetary cuts.
  • For adult learners, online classes are typically more affordable when compared to traditional universities.
  • Not only is tuition less, but there are other cost savings that distance learning provides–students don’t have to deal with the increasingly high cost of commuting, or expensive textbooks, or lab fees.
  • Online learning is also seen as an attractive option for today’s student due to convenience and flexibility.  Students can work in their “space” at their pace. Many students find that they can maintain full time jobs while obtaining a much-needed education.

Even in a declining economy, people refuse to abandon their dreams for a better life. A virtual education can help make those dreams a reality.

It’s a “no-brainer”.

What’s your take on this topic?

Image by Alan Cleaver

About

Andrianes Pinantoan is InformED's editor and part of the marketing team behind Open Colleges. When not working, he can be found reading about two of his favourite subjects: education and psychology. You can find him on Google+ or @andreispsyched.

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