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Submission + - UC online courses' alarming growth rate (sfgate.com)

slew writes: In the shadow of Stanford and Harvard offering free on-line courses, The University of California has been attempting to offer pay-courses for credit. UC online took out a $6.9M loan from UC and spent $4.3M to market these courses. For their efforts, they've been able to quadruple their enrollment year over year.

The first year results: one person paid $1,400 for an online calculus class worth 4 credits. Now 4 people are signed up. Me thinks head will roll on this one...

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UC online courses' alarming growth rate

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Loan-department manager: "There isn't any fine print. At these interest rates, we don't need it."