Why Education Will Get Cheaper

 

BANKRUPT: Restaurants, hotels, and airlines are going bankrupt!

But did you know that universities are also going bankrupt! Many people forget about this but universities are a business. They have to pay for professors, for space and for physical buildings. It costs hundreds of millions of dollars to run a university. 

And, now because of Covid-19, there are no students left on campus and no more revenue. That's why hundreds of universities will close their doors forever. 

This is a big deal! Even the richest universities in the world like Harvard are going in debt. And it all makes sense! Students don't want to pay $40,000 a year just to go on Zoom and get an education. It's just not the same! And families who have lost their jobs cannot afford college anymore. No more students, no more revenue, lots of expenses, bankruptcy. 

This is not supposed to depress you. I believe we will get through this every time we had a tragedy humans were able to survive it.

We invented the internet because of war. And we landed on the moon because of war and in the middle of the Covid-19  war. we will fix education.

Yes, old universities with beautiful campuses and a $100,000 tuition may struggle. But, here's my guess, we will see a new type of university that is much cheaper, much more efficient, and much smaller and we will call it an academy. 

If you want to become a nurse, you will go to a Nursing Academy. If you want to become an engineer, you will go to a Coding Academy. They will cost 10% of the price of a normal school and many of them may be online. Like the University of the People. It's tuition free  and entirely online. It costs 3% or less of a normal school with good education, and job opportunities. 

In fact, at my own company, we believe this will happen. So, we started the NAS Academy. It teaches people how to create videos. It's supposed to be the Harvard of Video for 1% of the price. 

The truth is before Covid-19 education was too expensive and many students graduated with debt. Almost 1 trillion dollars of debt. This can ruin careers. I know personally, if I graduated with debt, this entire Nas Daily page would not exist. I would stay at my boring job just to pay back my debts and none of this, this or this would exist.

So, yes, according to economists hundreds of universities may go bankrupt and this is devastating. But in this war, we will build a new type of school - a cheaper one, a more efficient one that can educate millions of new students without going in debt! And in the middle of darkness, this is good news!