Why is e-learning here to stay – Understanding the economics of online learning

Even before the pandemic, the e-Learning sector was growing rapidly, and the market worth was approximately $247 million. 

However, the pandemic has provided a major boost to this sector. As schools and other educational institutions were forced to close down, and people had to follow social distancing and quarantine protocols, the traditional campus-based model had to be replaced. 

This is when e-learning or online education stepped into the challenge.

Introduction

During the pandemic, numerous edtech start-ups opened up where they were providing an alternative online education platform with premium membership and various other advantages. 

This made education easily accessible to most students who otherwise would have missed 2 years of education completely.

Fast forward to now, we have practically come out of the pandemic, yet e-learning is still something that’s not stopping growing.

The e-learning dynamic

Let’s have a look at the future of e-Learning in India

E-Learning is the future. Not only was online education able to reach the huge student base of India, but it also solved many issues with traditional classroom teaching methods. According to a report, the current online learner base will grow by 44% CAGR in the future. The e-Learning market in India is the second largest in the world and is estimated to grow by a huge margin of 15.64% by the year 2022. New teaching concepts introduced by online tutors will make things exciting, interesting, and simple for all types of students.

Online education will be the torch bearer and bring significant change in the dynamic business environment. They will also revolutionise the education landscape of India. 

The never-ending growth of online learning

The traditional elearning model is something that has been around for a long time now. However, because it was made a necessity rather than an option in the last few years, everybody got to experience it.

That’s why there’s such a surge in students taking up online classes and courses just because they practically adjusted well to this model.

1. The flexibility

Most students prefer e-Learning as it gives them the flexibility to learn from anywhere at any time. Without worrying about dress codes and uncomfortable desks, the students can also avoid traveling. You can choose any study spot where you feel comfortable and directly join your classes without wasting time getting dressed up or packing your books.

Since a student feels most comfortable at home, e-learning reduces stress and pressure and creates a positive environment.

The flexibility involved in traditional e-learning models allows you to learn whatever you want. This opens doors for choice and opportunities, something that traditional learning models can’t really offer.

2. Self-Paced

The requirement of self-paced learning is important, especially when the learning curve isn’t exactly easy.

The provision of online learning has opened doors for flexible, self-paced classes that you can attend when you want to.

While the class timings are chosen by the student, the motivation required to follow through with all the classes is also something that the student needs to take care of.

The provision of a mentor also personalizes the learning experience a lot.

3. A cost and time-friendly journey

Pursuing college are expensive. Most students find it difficult to pursue college. Additionally, there are the travel and staying costs.

With a remote learning model, however, students and learners can enroll in the courses of their choice without burning a hole in their pockets. Also, since you do not need to travel, you can study on your own time and can save a lot of time as well.

Suppose you have a permanent day job but you need to do an MBA. Then a traditional MBA course can be difficult. With the help of e-Learning, working professionals can pursue any certification courses to advance in their careers without having to travel long distances.

4. A beneficial model for instructors as well

With the help of e-learning, teachers can focus all their attention on teaching the students and effectively address all their queries. Additionally, during online classes, when a teacher demonstrates specific theories using videos, lessons become simpler for students to understand. They can reach out to educators at any time on various chat rooms. The instructor has the autonomy to solve their questions anytime during the day.

5. A diverse method of learning

Most educational institutions teach everything in English as it is the standard language. However, many students may find it difficult to follow up in classes. This can have a big impact on the student’s learning process in the long run. Many institutions offer bilingual support for people who are having a tough time with English courses.

6. Online degrees are being recognized

Nowadays, most companies and businesses in India are accepting online degrees, which are approved by the Distance Education Council Of India (DEC). 

Many institutions encourage employees to enroll in online education to improve their skill sets.

With e-Learning right now, there are no standard boundaries. Therefore, students are exposed to newer and innovative ideas and cultures.

Conclusion

It is pretty clear that covid-19 has totally disrupted the global education system. However, online learning and ed tech platforms came to the rescue. 

Now, as things are coming back to normal, most schools and educational institutions across the world have announced that they will continue with their e-Learning methods along with their traditional classes. Also, 90% of students prefer online education over the traditional system. 

And what better way to start your online learning than joining Skolar and getting access to some of the most important and interesting courses?