In the last couple of years, schools and higher education institutions have begun to rely on new technologies and adapt to a new way of teaching. During this time, the value of Edtech has become apparent to many, with substantial growth in the industry and investors seeking startups to put their money behind. Edtech is now a vital tool for many companies too. Keeping staff up-to-date with training and some operations often means turning to Edtech solutions.
We are seeing an increase in people studying online for numerous reasons, to retrain and take different career paths or to progress in their current careers. With this increase in interest comes the question, could an Edtech become as prestigious as any university?
Prestige in Edtech
Several world-class universities now offer distance learning options for students. This is a significant turning point, opening access to a global audience. As online learning platforms become hubs for universities across the globe to showcase their courses, the prestige of “the university” may become a thing of the past. Instead, prestige in higher education may be transferred to the platform rather than the institution. The focus will likely shift to the outcomes related to the qualification, knowledge, and skills achieved. Students may not have concern for the institution behind it; instead, they’ll focus on the outcome.
We will likely see knowledge for what it is rather than from where an individual obtained it. This will give students a fairer chance at succeeding in employment following their studies.
A More Cost-Effective Alternative
It’s important to consider the cost-effectiveness of Edtech for institutions. Online course providers allow an institution to offer education on a larger scale at a fraction of the cost. While some traditional brick-and-mortar universities struggle to stay afloat, the Edtech industry is booming. This cost-effective solution could help put universities on a much more level playing field.
While a campus-based university provides an opportunity for better interaction between students and teachers, it comes at an enormous cost. This isn’t an issue for prestigious universities that cash in from wealthy donors and have international brand recognition on their side, but it is for those in less affluent areas. Access to Edtech may allow lesser-known institutions to compete with the big dogs by providing a more cost-effective solution.
As universities lower overheads with Edtech, access to higher education at a reasonable cost for the learner is more achievable. Students will likely be able to access degree-level courses at a lower price than in previous years.
Accreditation Issues for Edtech Platforms
Edtech offers students more flexible and cost-effective learning solutions. However, the current challenge is accreditation. Prestige may be unachievable without accreditation, but online learning providers are achieving this. Many countries may follow this trend and help to transform higher education.
The Future of Higher Education is Edtech
Brand recognition is often the key to prestige. Prestigious universities have kept their reputation throughout history. However, it’s important to remember how technology has allowed new brands to overtake established ones. Consider Coca-Cola, a company with global recognition that has built its name since its establishment in 1886. Although Coca-Cola is still a world-renowned brand, newer brands such as Apple and Amazon are equally recognized. They have also overtaken Coca-Cola in terms of brand equity value. Edtech is finally being seen as the valuable tool it is, which means the future of higher education will probably be based around it. With accreditation, Edtech platforms can gain the prestige that world-class universities have throughout history.
