“The overwhelming majority of college-goers today don’t enroll in higher education to get an education as much as they seek to earn a credential that they can successfully leverage in a labor market. Sure, the former is supposed to beget the latter, but it’s a hurdle that’s easily, and often, leaped. Knowledge learned is quite easily forgotten (ask any college graduate to retake one of their mid-term or final exams five years on and I’d almost guarantee a near-perfect failure rate) and our current structure for assessing knowledge gain is built around point-in-time assessments like exams, not repeated evaluation over time of comprehension and understanding. Indeed, one need look no further than Facebook or Twitter to find countless posts of college students bragging about never cracking open a book, attending class or cramming for an exam and pulling the minimum they needed to pass a class to see that it’s the credential that people value and carry with them years later, not necessarily the education.”

The real economics of massive online courses (essay) | Inside Higher Ed

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