In my experience learning online is way more effective and efficient.
Why it is not the default option for universities?
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Online is only really better for lower levels of Bloom’s Taxonomy. As you work your way up from default memorization, in person learning starts to shine.
Also, a bachelor’s degree isn’t supposed to just teach you hard skills, but also soft skills to make you a leader. It is a lot harder to teach leadership when students don’t have to deal with people.