These schools are trying to adapt to the Gen Y. Make it cheap and put it online, and prestigious and if the student can offer “try before you buy,” they will love it. This is what The London School of Business and Finance is doing: Take classes online with the best faculty through an innovative and familiar delivery channel (Facebook) at no cost and then give the GenY’s the Pièce de résistance. Let them test the quality of the course before putting their money down. That is, take the course for free, and if one wants the credit then pay. They expect 500,000 to go online the first year.
Why will this work? Gen Y’s do not like the concept of fixed time, they prefer to decide when things happen and they do not like to be told by some authority that they will be punished if they do not show up when expected. At the University of Florida students live in (summer camp) dorms and take their classes online. GenY’s love to travel and live in a world with no boundaries and they welcome alternative cultures. They avoid being stuck in one place for a period of time, no traffic jams on the way to class, no living in an uncivilized dorm rooms with strangers and no standing on line for showers, food, books, advisement, registration, etc. If the student can afford it they can do their degree in Mumbai, London, Costa Rica, etc. It’s no longer “a year abroad” its four years abroad. If a student cannot afford it then it’s off to work and to the community college for two years. The key is they want to be able to obtain their education their way; full time, part time and they can do their degree in 4 years or 14 years and they will avoid the one thing they hate- debt. Their goal is to obtain a viable degree (not necessarily an education) without debt.

Coursework is great for reference, but real business education comes from case study and more importantly from class discussion and debate. Above all, it comes from application and experience.

Coursework by itself is meaningless.