The governor thrust himself into the debate because he envisions cost savings in online education. UC did too. But its project has lost money so far. After raising just $750,000 from a foundation, UC Online took out a $6.9 million loan from UC. It has spent more than $5 million, with most going to a marketing company. And now that MOOCs are stealing UC Online’s potential clientele, UC may rethink its plans. But changing midstream will be tough. UC Online has to pay back the loan in seven years and expected to sell 7,000 classes to non-UC students for $1,400 or $2,400 apiece, depending on each course’s duration. China was thought to be a lucrative potential source of students, but few expressed interest. The U.S. military also fell through.

Read full article [here].
by Nanette Asimov, The San Francisco Chronicle.

Posted: January 8th, 2013, by: admin. Categories: . Awaiting Comments.