WSJ writes Jack Welch is investing $2M in Chancellor University System LLC which is converting formerly bankrupt Myers University in Cleveland into Chancellor University.
An undergraduate degree will cost about $40,000.
The Welch MBA will cost about $21,600.
Interestingly, the WSJ says lead investor, Micheal Clifford never went to college.
Boston research firm EduVentures Inc. estimates that 11% of the roughly 18.5 million U.S. college students took most of their classes online in the fall of 2008, up from 1% a decade ago.
Online higher education will generate revenue of $11.5 billion this year, EduVentures says.
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Competition is good, but I'm not sure about "for profit" educational institutions. We stand to lose a significant body of work that benefits the greater good of society. Profit motivated organizations will package studies, solutions, papers, etc rather than distribute to the educational community.
Seems like $40k undergrad is a bit high....state universities and the junior college system appear more cost effective.
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