The future of online education costs still hang in the balance, since a range of factors contribute to the radical changes taking place in the world of higher education.

The Internet Changes the Education Industry and Online Education Costs

The Internet’s far-reaching information-sharing capability has put e-learning on the map for good. When it comes to online education costs, the Internet’s impact on the education industry can mean cheaper options for nontraditional students.

In the same way the Internet has caused a shift in the newspaper and music industries, it could have a similar effect on higher education. For example, instead of getting all of your news from one paper, you can read a variety of stories from different sources. The same may go for education; instead of getting your whole degree from one college, you can shop around for specific courses that best suit your needs and at the lowest price.

College Courses: Buffet Style

Evidence of the Internet’s ability to create cheaper online education costs can be seen in the company Straighterline.com, which offers unlimited courses for $99 a month. Other services included in this price are 10 hours of one-on-one live support and a course advisor. If you pass their course, you get college credit from one of the many participating colleges.

To give you an idea of the savings involved here, four college courses cost a student $200 instead of the $2,700 it would have cost at one of the local universities.

Some believe that what is called a “home institution model” will evolve in which students will take (cheaper) introductory level college courses through companies like Straighterline.com and take the more in-depth, field-related courses of their degree program on campus.

The Online Education Reputation Factor

The longer online education is around and studies can reveal what is effective and what isn’t, improvements in overall quality can be made, resulting in improvements in the reputation of online education. Experience and time can also lead to higher quality online courses at a cheaper price, changing online education costs for the better.

The Obama Administration Plans to Fund Free Online Course Development

The Obama administration’s education proposal seeks to have the highest number of college graduates in the world by 2020. Since our on-campus colleges and universities could not support the number of students it would take to meet this goal, community colleges and online courses must be included.

Funds will go towards the development of free, high quality, online course materials — yet another step in the right direction for lowering online education costs.

Potential Obstacles in Lowering Online Education Costs

Keeping up with and affording the advances in technology is a significant concern for online colleges. Since online education is still relatively new, managing the technology for online courses can be a challenge. The best technology can also be expensive and many schools simply cannot afford it.

For traditional colleges and universities that happen to offer online courses (and as time goes on, more and more schools will) it can be a drain of resources since the instructors of the online courses may require graduate assistants and a lighter teaching schedule. Developing the online courses is also costly and many faculty members are not interested in the time it takes to do so.

Time Will Tell the Future of Online Education Costs

It is hard to say exactly how online education costs will change as the education industry changes, especially given the unprecedented economic crisis we are in. One thing is for sure: online education offers higher ed opportunities to students who would not otherwise have access to college. That alone is reason enough to find ways to make it as affordable and accessible as possible.