Spending $100 million on a fancy gym is completely unremarkable in contemporary American higher education. Yet $10 million for a really good online biology course that could serve millions of students is seen as an outlandish, unaffordable expense.

The message for all students should be: Put down the bong and get to work, because the number of curious, eager-to-learn peers around the world with the means and ambition to get a great college education is about to increase a thousandfold.

Borrow money only for an education that will yield enough of a return in the job market to allow you to pay your loans back.