One of the top ranked universities in the world and certainly one of the famous ones, Massachusetts Institute of Technology (MIT) is one where anyone remotely related to tech, science or engineering aspires to study. Of course, getting into MIT is also financially unfeasible for a lot of people in our corner of the world. All that is about to change though.
In these past few years, MIT has offered free online courses for those who want to benefit from their teaching. The downside to those courses was that they did not count towards a degree.
Now, the university has started offering degrees with those courses. It is rolling out a pilot project for the same. So yes, you too can take advantage of one of the best academic qualifications in the world now.
MIT Starts Supply Chain Management Degree Program
In a pilot project announced on Wednesday, the students can take the free online course at MIT for the first semester. If they pay a fee of $1500 for an exam and pass it, they will be get a MicroMaster’s credential.
This MicroMaster credential is a new program which represents half of the university’s year long supply chain management program. Those who do well in the online courses can then give an exam to apply for the second semester of the program. The students that enter the second semester would need to pay $33,000, which is half of what the whole program costs.
All in all you can get a full degree in supply chain management from MIT for about $34,500 instead of $66,000 required if you apply for the program the regular way.
Anyone who wants to be here now has a shot to be here. They have a chance to prove in advance that they can do the work. – L. Rafael Reif, MIT President
Those who join the supply chain management program are usually the mid career workers who take a year off for training. There is a high demand from companies that want to train more workers in this field.
Are Online Degree Programs the Future?
Yossi Sheffi, director of the MIT Center for Transportation and Logistics, says that they barely have 40 students graduating each year from the university. They need more students, which we can assume is a major reason behind the decision to offer this online degree program.
Online courses are touted to be the future. Universities as we know them may change, with many more joining traditional degree programs with online courses. MIT is joined by many other universities including Arizona State University, Harvard University, Georgia Institute of Technology etc. that are offering online courses with a full-fledged degree in tow.
Its not easy getting into a big name university like MIT. Even MIT’s President admits that:
That admission system works well for people who went to schools we know very well, but for people from outside that familiar circle, it can be hard to break in. Right now the main focus is quality, and hopefully the finances will work out later but this is not something in which we expect to make money. We want to break even.