Imagine a personnel manager at a mid-sized industrial corporation in Kansas who’s looking for a candidate with a particular set of knowledge. There are two candidates: one from the local state school with an appropriate college degree, a second with relevant MITx certificates of completion.

Let’s say all other things between the candidates are equal. Which should be chosen? It’s true that an online education is not the same as the college experience. The candidate who went to college probably enjoyed his experience more, but how much is that experience worth to a potential employer? Unless he’s a member of the same fraternity, probably not as much as the college candidate would hope.

And here’s the reality: the student debt of the college candidate controls, to some extent, his salary requirements. Since the MITx candidate appears to have the knowledge required, and has no student debt, he probably can be hired cheaper…

Eventually you could have local campuses becoming places where MITx students seek tutoring, network, and socialize – reclaiming some of the college experience they’d otherwise have lost.

Phil thought this sounded like college as a giant coffee shop. I agree.