Do you still think that MOOCs are an unprofitable investment for your college?
In addition to the benefits coming from innovations and improvements in course design, you can build a sustainable revenue model. Top schools are doing so.
There are at least four revenue models, coming from:
- Offering for-credit online courses that students pay for.
- Receiving grants to support research on new online pedagogy and course delivery.
- Using MOOCs as a recruiting tool for pre-matriculated students.
- Generating donations from the alumni community.
Our colleagues from Extension Engine –an Open edX dedicated company based in Boston– have analyzed data from 136 colleges and universities and detected sustainable revenue models. A white paper available for free download (after you leave your email) highlights how schools pursue income through MOOCs.
In other words, joining the MOOC-wagon is worth it.
