Student Loan Debt

Education Hacking with Scott Young

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Table of Contents  
  1. Show Notes

Can you get a top notch education for free?  Scott Young shows you how to DIY your own top shelf education.  Also find out what autodidact means!

Scott wanted to go back to school for computer science without all the hassle of enrolling in classes.   He discovered that MIT and lots of other universities put their classes, projects, and final exams on-line.  He went through the process and passed the classes.  And he did it in twelve months rather than four years.  He spent about $2000 and that was mostly on text books.  Nine months tuition and room and board at MIT is about $56,000.

Keep in mind, you’re getting an education this way but not a degree.  So can you get a job?  Apparently you can.  Recruiters have contacted Scott to let him know that people with this kind of drive are exactly what they are looking for.  You will have to be a little more creative with your resume to get an interview but if you can get in the door, you have as a good a shot as someone who spent tens of thousands of dollars for that piece of paper.

To get the most out of this kind of educational experience, you need to practice all the time, much the way you learn a new language.  It’s shown that sitting through a lecture is one of the least effective methods of learning.  Scott spent a lot of his time during this project working on problem sets.

If you’re still skeptical, Scott recommends the Do It Yourself Degree, it’s a hybrid where you take some classes in person, some at distance, and test out of what you can.  You can also transfer credits between universities to lower the cost of education.

Scott isn’t trying to over throw the university system.  Employers will have to be the ones leading that charge.  He just wants to show people there are alternatives to crippling student loan debt and show people who just want to learn a new skill that they don’t have to go back to college.

Show Notes

Scott H. Young:  How to get more from life.

Scott’s Ted Talk:  Can you get an MIT education for $2000?

MOOCS:  Massive open on-line courses.

 

Candice Elliott - Editor-in-Chief Candice Elliott is a substantial contributor to Listen Money Matters. She has been a personal finance writer since 2013 and has written extensively on student loan debt, investing, and credit. She has successfully navigated these areas in her own life and knows how to help others do the same. Candice has answered thousands of questions from the LMM community and spent countless hours doing research for hundreds of personal finance articles. She happily calls New Orleans, Louisiana home-the most fun city in the world.

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