Is MIT Offering a Free Degree?

MIT_free_degree

Free online courses have been available through the Massachusetts Institute of Technology for the last several years, but students taking those courses were out of luck if they wanted them to count toward a degree. That’s all changed, however.

A new pilot program is allowing students to take a semester of online graduate courses in the school’s supply chain management program for nominal fees, and then earn a MicroMaster’s credential if they can pass an exam.

So no, it’s not a free degree. But it’s a significantly cheaper alternative, and provides students who might not otherwise be accepted into the traditional program based on previous academic performance to prove their abilities.

“Anyone who wants to be here now has a shot to be here,” MIT President L. Rafael Reif was quoted by the Associated Press. “They have a chance to prove in advance that they can do the work.”

That MicroMaster’s credential will count toward half of MIT’s one-year master’s degree in supply chain management, Arthur Grau, community manager for the Supply Chain MicroMaster’s program, said. Students who do well can qualify by exam to take the second semester on campus, with a related tuition of $33,000.

The cost of the MicroMaster’s includes $150 for each of the five online classes, plus an additional fee of up to $800 to take the exam, according to Grau. The first courses launched last winter, Grau said.

The first group of students to take part in the program — about 2,000 students thus far, Grau said — have started two of the five required courses and should have completed all five by March or April of 2017, just in time for the first qualifying exam in May, 2017.

“So they’re about one-third through the entire process right now,” Grau said.

“We have not done any official launches yet,” Grau said, though the university expects to make an official announcement of the program on Sept. 20. “At that time we’ll probably see a bump in the numbers.”

Grau did note that approximately 30,000 students take the online supply chain management courses, but only 2,000 have paid the fees necessary to qualify for the degree program. That’s good news for an industry in need of qualified workers.

“We produce 40 students a year, and they say that’s a drop in the bucket; we need thousands,” Yossi Sheffi, director of the MIT Center for Transportation and Logistics, was quoted by the Associated Press.

As tuition rates continue to climb (a four-year degree at a public college is on track to cost $94,800 by 2033, according to data from the College Board), finding alternative solutions is becoming attractive to more and more students and student hopefuls. It’s also becoming more attractive to higher-education institutions, which are offering more and more free online classes in hopes of reaching a wider student audience.

That’s not surprising when you consider that tuition and fees have outpaced inflation over the last several years, while wages have stayed the same or fallen, according to 2014 analysis from the Pew Research Center.

Those statistics can seem even more daunting when you consider that the average student now graduates with more than $37,000 in student loan debt. Government funding (or the lack thereof) also is a significant part of the many things affecting students’ access to affordable education. (Credit scores can also play a role, specifically if you need private student loans to subsidize your education costs. You can check two of your credit scores for free on Credit.com to see where you stand.)

Image: Zoran Zeremski

The post Is MIT Offering a Free Degree? appeared first on Credit.com.

5 High-Paying Jobs That Don’t Require a Bachelor’s Degree

high-paying jobs

The higher your degree, the higher your pay? Not necessarily.

According to the USA Today College partner network, the ticket to a number of lucrative and stable jobs – especially in the high-demand health care and technology sectors – is an associate degree, not a bachelor’s degree.

If you’re looking for a high paying job that doesn’t demand that you devote four (or more) years to earning a college degree, this news is for you. These five jobs highlighted by OnlineDegrees.com offer high pay and strong job growth, but only require an associate degree:

1. Computer network support specialist (mean annual wage of $66,140, as of May 2014)

With employment in this field expected to grow by 17% from 2012 to 2022, “becoming a computer network support specialist is not only a solid job in and of itself, but it’s often a starter position for climbing up the tech ladder,” according to OnlineDegrees.com.

2. Dental hygienist ($71,970)

This in-demand position requires you to earn an associate degree in dental hygiene and meet state licensing requirements. But with a “whopping 33% projected job growth through 2022, this career will make you want to open up and say ‘ahhh,’” OnlineDegrees.com said.

3. Paralegal ($51,840)

If you’re interested in a career in law, but don’t want to devote nearly a decade to earning a law degree, becoming a legal assistant or paralegal may be a good alternative. Paralegals not only earn a good wage, but they’re in high demand, with a 17% projected job growth predicted for the 10 years ending in 2022.

4. Cardiovascular technologist or technician ($55,210)

According to the U.S. Bureau of Labor Statistics, cardiovascular techs are in hot demand, with a 30% growth in employment opportunities predicted between 2012 and 2022, so this position offers both excellent pay and employment security.

5. Registered nurse ($69,790)

Although some prospective nurses opt to earn a bachelor’s degree in nursing, known as a BSN, you can become a registered nurse (RN) after completing an associate degree in nursing and meeting national and state licensing requirements. With a 19% job growth predicted through 2022, nursing also offers job security.

More from Money Talks News:

Image: Creatas

The post 5 High-Paying Jobs That Don’t Require a Bachelor’s Degree appeared first on Credit.com.