The Cost Of Higher Education: A Proposed Solution

The cost of higher education has become a hot topic, especially in light of the outrageous levels of youth unemployment in America and Europe. The average price of tuition at American four-year colleges, in constant 2007 dollars, climbed from $8,552 in 1980 to $20,154 in 2009. Outstanding student loan stands at over a trillion dollars at the moment, and thought leaders like Peter Thiel have taken aggressive positions against education bought at these prices.

I happen to be a believer in higher education, but the cost issue is a real one, and it needs a solution. This post is a reflection on the subject.

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1M/1M: Video Message Based On Recent Talks

I have been giving a lot of talks lately, and interacting with hundreds of entrepreneurs and entrepreneurship development leaders around the world. Here is an YouTube video synthesizing some of the core points of these discussions on bootstrapping, positioning, and lean startups:

1M/1M: Online Education Module Of The Curriculum Is Ready

Readers, we have just released the online education module of the 1M/1M premium curriculum. In it, you will find a synthesis of the various trends and opportunities that I see at this point, along with case studies and video lectures. The opportunity is clearly huge in multiple dimensions, and I am convinced that many businesses can and will be built in this segment over this decade.

Entrepreneurship Education: Youth Entrepreneurship Course

As a follow-up to my previous post, The Time Has Come For The College Entrepreneur, a question that begs to be answered is: What is the composition of a youth entrepreneurship course? What are the assumptions that need to be made about what students know?

Of course, one of the assumptions needs to be that the student has no business background or business training. Typically, they come from other streams of study and need to take entrepreneurship as a supplemental course.

In addition, give the job prospects, we have to also keep in mind the cost of education. It’s not reasonable to expect a large number of our unemployed youth to go to expensive business school programs and be saddled with large debt burdens. Entrepreneurship education needs to be imparted quickly, efficiently, and at a minimum cost. Ideally, it’s on a live project – a company – a venture – that the student has already started tinkering with.

I have tried to keep these criteria in mind as I have designed the One Million by One Million (1M/1M) program.

I am also curious to hear from educators at high schools and colleges who are coaching and mentoring students facing this deep recession on what, if anything, you are doing to steer them toward entrepreneurship.

Entrepreneurship Education: Incubator Business Models

You have read my last Forbes Column, An Underused Tool For Job Recovery. With unemployment soaring, I discussed how incubators can help people move into self-employment–and create jobs.

We’ve also discussed the topic of why incubators fail at length here. One of the issues that came up in the incubator discussion as a cause for failure is: What is the right business model for an incubator?

This is what I invite you to discuss in this thread.

[Please note that since this discussion took place here on the blog, we have launched the One Million by One Million global initiative, and for incubators looking for a viable business model, you are very welcome to reach out to me to become a reseller of our premium program priced at $1000 annual membership fee.]

Entrepreneurship Education: Why Do Business Incubators Fail?

While my previous post on entrepreneurship education, Bootstrapping at B-Schools is still generating hot discussion, I would like to pose another important discussion topic: Why do business incubators fail?

Those among my readers who have perspective and analysis to offer on the subject, please feel free to jump right in.

[Please note that since this discussion started here on the blog in 2010, we have launched the One Million by One Million global initiative, and for incubators looking for a viable business model, you are very welcome to reach out to us to become a partner of our program.]