Laszlo F. Mucsics Karoly Robert College, Gyöngyös, Hungary

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1 Hardships in Hungarian Teriary Educaion: he Economic role of Privae Inernal Rae of Reurn in online educaion of educaion in he 2 s cenury 6 Laszlo F. Mucsics Karoly Rober College, Gyöngyös, Hungary Absrac The effecs of global crises and he unique Hungarian economic difficulies render more and more hardships for non-full ime sudens of higher educaion. The aim of his sudy wofold. I gives insigh ino how he ICTs are spread among he sudens of Karoly Rober College beween 2006 and 202 and examines he economic effec of privae inernal rae of reurn (IRR) by launching a form of online educaion in he changing environmen of Hungarian eriary educaion. In general, he sudy found ha he suden populaion is equipped wih he proper up-o-dae echnology ha enables using online educaion. In addiion, wih launching online educaion he sudens privae IRR may also be increased significanly by reducing he cos of indirec cos. Wih he echnological invenions and applicaions of he 2s cenury he Karoly Rober College designs and inroduces a new learning environmen for nonfull ime sudens since 203. Key words: e-educaion, srucural reform, info-communicaion ools, privae IRR o educaion. Inroducion While governmenal policy makers worldwide are srongly confroned wih he amoun of money invesed ino higher educaion (Tilak, 2006); he Hungarian governmen is unambiguously deermined o decrease he invesmen in higher educaion. In 202 he oal public expendiure on higher educaion was one-hird less han i was a year before and in 203 anoher sharp decline follows. According o he governmen s Srucural Reform Plan (Széll Kálmán Plan) he reason for his inconvenien ac is wofold. Firs, he Hungarian governmen is srongly deermined o mainain he general governmen defici below 3% of GDP in 202, 203 and 204. Second, he Hungarian educaion sysem is far from meeing he acual demands se by he economy and he labour marke. We have been financing an educaion sysem wih significan public resources ha does no serve he ineress of he economy, does no creae value, and as a whole, increases public deb. (Minisry for Naional Economy, 20) Norber Kiss, he ex-depuy sae secreary of educaion, also saes ha a presen on half of he sae-subsidized college or universiy sudens is furher funded wih gran scholarship ofen seemingly on he basis of subjecive righs. (Kárász, 202) As a consequence of reducing he normaive financing, he presen sysem of he Hungarian higher educaion is subjeced o complee aleraion, ha is, in higher educaion, he developmen of he indusries providing high added value would have required educaion of naural sciences and engineering o be more prevalen, since half of he rainings awarding diplomas were no based on marke demands. (Polónyi, 202) The saemen suggess ha awarding a naural science degree will

2 of educaion in he 2 s cenury 62 Laszlo F. MUCSICS. Hardships in Hungarian Teriary Educaion: The Economic Role of Privae Inernal Rae of Reurn in Online Educaion experience more favourable opporuniies compared o oher ype of degrees. This presen governmenal educaion policy inends o modify higher educaion fundamenally bu lacking a general survey based balanced and sufficien funding, he Hungarian higher educaion sysem urns o be deformed soon and i will ake decades o achieve he desired equilibrium. A quesion mus be asked and answered: is he ongoing educaional modificaion procedure a sor of opimisaion or a damaging approach o cuing governmen expenses? The auhor delivers an economic approach o launching higher educaion degree courses in Hungarian higher educaion wih echnological devices such as m-learning, blended learning or e-learning. This way of learning may be a possible soluion for hose fuure sudens who found hemselves in an everyhing-bu-no-free educaion sysem and an economic sysem needing well rained employees in he workforce. Problem of Research Wha is he presen siuaion like? In Sepember 202 he enry-level places geing full sponsorship fell o (in 20 his figure was ). According o laes plans furher cus are going o ake place in 203, so he number of full sponsorships remains he same a bes. As sae-financed scholarships decrease and a grea number of faculies have become or are becoming self-financed, a lo bigger percenage of fuure sudens are able o access public financial suppor in he form of loans. The Suden Loan II (Széll Kálmán Plan 2.0) provides financial suppor for hose who gained admission o non-financed higher educaional programs. Hungary is enering he business of inroducing suden loans in bulk. As here is no survey or sudy i is impossible o predic he percenage of hose who are deerred from enering higher educaion or obain he Suden Loan wihou knowing he possible consequences. In Sepember 202 Pew Research Cener published some frighening figures on he demographic rends of suden loans in he US; one of hem is ha one in every five households owes a suden loan in he US. (Fry, 202) Does Hungary, whose populaion is deeply buried in deb in foreign currency, really need o follow his pah? As if he lack of financial cu was no enough, hings are furher complicaed by he fac ha sae-financed sudens are o sign a conrac obliging hem o work in Hungary for wice he number of years hey had spen in higher educaion. Changes in higher educaion are occurring far oo fas and oo dramaically, here is jus one hing for sure: is no easy o be a graduae in a Hungarian high school oday. Alhough he presen Hungarian governmen saes ha here is no uiion fee in Hungary, a significan percenage of fuure sudens will be forced o pay for heir degree/educaions. Possible reacions o he growing number of self-financed sudens can be differen among Hungarian universiies bu mos of hem agree on offering online degree programs. Many pros and cons have been repored abou he mehodology of online, e-learning courses worldwide. Educaional specialiss wrie hundreds of aricles for dozens of journals ha deal wih he educaional mehodology of e-learning. There migh be heavy pedagogical debaes on he advanages and disadvanages of e-learning applicaions bu facs speak for hemselves. In he US in 2003 approximaely sudens were earning degrees hrough online programs; in 2009 a leas 5.6 million sudens were aking a leas one online course during he fall 2009 erm. And how does his global crisis influence he demand for online courses in he US? Three-quarers of he 2500 insiuions repored ha economic urndown has increased he demand for online courses and programmes (Allen & Seaman, 200). Presen circumsances in Hungary all call for launching online programmes by higher educaional insiuions. The educaional policy of he governmen, effecs of global crisis (e.g. rising unemploymen, declining sandard of living) and he echnological achievemens of he pos docom era enruss colleges and universiies o offer graduae programmes. Why o do so? Because i is worh doing so. The oal cos of developing e-learning educaion may vary

3 Laszlo F. MUCSICS. Hardships in Hungarian Teriary Educaion: The Economic Role of Privae Inernal Rae of Reurn in Online Educaion because of he opic or he srucure or he course. The cos of an online mulimedia or medical course wih all ineracive media elemens may be very expensive while he simple bare-bones disance educaion may cos jus a small fragmen of i. As far as developmen coss are considered hey can be grouped ino hree caegories: Conen developmen (planning, course consideraion, managemen, conen design (graphics) and wriing, maerials developmen, esing, final checking, evaluaion, feedback). Infrasrucure and echnology (servers, neworking, hardware ools, helpdesk service). Markeing expense (mainaining he previous wo, adverisemen, search engine placemen). When developing an online course hese caegories ogeher ake he majoriy of coss. A marginal cos is spen on mainenance. When measuring he cos of e-learning courses or programmes i is crucial o disinguish efficiency and cos effeciveness. (Mashal, 2008) For a fruiful online programme one does no go wihou he oher. Cos effeciveness is usually examined by he cos comparison of per-suden enrolling in an E-learning and a radiional course (Minh, 2003). The nex able shows ha he cos per suden in case of e-learning classes declines rapidly wih he increases of class size. I declines faser compared o radiional educaion (Figure ). of educaion in he 2 s cenury 63 Figure : Per-suden cos o insiuion of delivering educaion (based on Minh, 2003). When he number of e-learning sudens is grea enough bigger han he Efficiency hreshold needs universiies may find e-learning classes financially more fruiful han he radiional one. They may also be in he posiion of charging sudens for e-learning based courses even less, and ha also induces massive ineress from fuure sudens. Menion mus be made ha alhough his analysis is widely acceped, i is far oo simple. As far as he managemen of wo or hree imes as many e-sudens can be handled jus imagine he workload i provides for he insrucor.

4 of educaion in he 2 s cenury 64 Laszlo F. MUCSICS. Hardships in Hungarian Teriary Educaion: The Economic Role of Privae Inernal Rae of Reurn in Online Educaion Research Focus Higher educaional insiuions are forced o ake seps o proec hemselves agains he disadvanageous circumsances creaed by he presen Hungarian educaional policy makers. Launching online educaional courses or degree programs may be he soluion for buffering agains unfavourable governmenal acs and his may also be beneficial for hese insiuions. The presen sudy is carried ou o achieve he following objecives ) o obain a baseline assessmen of sudens abiliies and ICT backgrounds 2) o find ou he reason(s) why sudens choose or do no choose online educaion and 3) o examine how he privae IRR is changed when applying online eaching devices compared o radiional par-ime eaching. Are he fuure Hungarian sudens equipped wih he necessary echnological iems (elecronic devices, compuer lieracy, broadband Inerne) (Par Qs)? If yes, can he radiional correspondence (par-ime) raining be convered ino his new form (online) of educaion? Is ha new educaion forma economically beneficial for he sudens (Par_2_Qs)? Par Q_: Is he infrasrucure of info-communicaion ools suiable in Hungary? Par Q_2: Is he infrasrucure of info-communicaion ools suiable among he sudens of he Karoly Rober College (locally)? (Wha percenage of populaion is equipped wih PCs, lapops or oher M-learning devices?) Par Q2_: Is he Inerne accessibiliy suiable in Hungary? Par Q2_2: Is he Inerne accessibiliy suiable among he sudens of KRF? (Wha is he rend like?) Par Q3: Are he sudens of he Karoly Rober College able o manage basic insallaion aciviies? (Compuer lieracy, compuer knowledge) Par_2_Q: Why did no you choose he possibiliy of online learning? (7 sudens) Par_2_Q2: Why did you choose he online aendance? (2 sudens) Par_2_Q3: How much do you hink you have saved wih online aendance on Economic Mahemaics I course insead of coming o campus? (3 evens alogehe Mehodology of Research The research consiss of wo sudies. The firs and he chronologically longer sudy examines sudens ICT background (compuer lieracy, compuer knowledge) abiliy locally (sudens of he Karoly Rober College) and globally (Cenral Saisical Bureau) beween 2006 and 202. The second sudy is carried ou in semeser 202 Fall. Besides he radiional way of educaion he Karoly Rober College offered he opional possibiliy of online Economic Mahemaics I course. The Sample and Profile of he Respondens (Sudy I) The sample of he firs sudy consiss of 54 sudens alogeher beween 2006 and 202. For six consecuive years he firs-year par-ime sudens of he Karoly Rober College were inerviewed by a quesionnaire (number of respondens 2007: 8, 2008: 6, 2009: 02, 200: 86, 20: 54, 202: 38). The majoriy of he learners were female (74%), older han 25 (63%) and employed (86%).

5 Laszlo F. MUCSICS. Hardships in Hungarian Teriary Educaion: The Economic Role of Privae Inernal Rae of Reurn in Online Educaion The Quesionnaire of educaion in he 2 s cenury 65 The quesionnaire is divided ino 4 pars. The s se conained quesions concerning he sudens personal pariculars such as gender, age, employmen, disance of learning cenre from home, money spen on ravelling, on caering while on campus, means of communicaion wih he insiuion. The 2 nd group of quesions examined he sudens abiliy in using several compuer applicaions (Word Processor, EXCEL, Learning Managemen Sysems, Drupal, Moodle, NIIF Videoconference) and also measure he sofware insalling abiliy of sudens using a 3-poin scale: () I am professional; (2) I can do i wih handbooks/sy s help; (3) I canno do i. The 3 rd se of quesions conained 5 quesions o ease ou he suden s aiude owards he use of ICT in educaion and in everyday life (Inerne availabiliy, possessing ICT devices: PC, lapop, ables). The 4 h se of quesions conained quesions concerning he opporuniies ha migh be enhanced by ICT use (each elecronic device mus be evaluaed by order of imporance). Daa Collecion The quesionnaires were disribued o sudens on he las occasion of heir uorial session each year. They were colleced and processed using EXCEL. Thus he primary daa (from he sudens) of his research is he resul of a survey conduced by he auhor beween 2006 and 202 a Karoly Rober College among all firs year par-ime sudens. The primary daa relaed o he suden populaion sudying a he Karoly Rober College a he ime of he survey, hus all fuure consequences refer o he College and are no inended o creae overall generalisaions. For he secondary source of informaion he daa of he Cenral Saisical Bureau (in Hungarian: Közponi Saiszikai Hivaal, hereafer: KSH) is used. The mehod used is descripive saisics ha is quaniaive descripions of he basic daa is provided wih pariion raio. The Sample and Profile of he Respondens (Sudy II) The sample of he second sudy consised of 38 learners who were he firs-year par ime sudens of he Karoly Rober College in 202 Fall. The quesionnaires were disribued o sudens on he end of he Economic Mahemaics I course (3 rd occasion). The quesionnaire is divided ino 3 pars. The firs se of quesions referred o he sudens age, gender, disance of college from home, way of ravelling, cos and ime of ravelling. The second quesion (for on campus sudens, 7) and he hird quesion (for online sudens, 2) were o figure ou why he suden chose online aendance or on campus aendance. This group (38) is referred o as he experimenal group laer on. Resuls of Research Par Q_: Is he infrasrucure of info-communicaion ools suiable in Hungary? Hungary has achieved appropriae condiions for developing an informaion economy since he urn of he millennium due o he advanced mobile and fixed lined communicaions srucure, and consan improvemens in he availabiliy of up-o-dae informaion and communicaion devices in he household secor. The wide range of info-communicaion ools available in Hungary are reduced o PC ownership. According o KSH he PC possession shows a consan increase in he las 0 years (Figure 2).

6 of educaion in he 2 s cenury 66 Laszlo F. MUCSICS. Hardships in Hungarian Teriary Educaion: The Economic Role of Privae Inernal Rae of Reurn in Online Educaion Figure 2: PC ownership in Hungary beween 2005 and 20 (source: KSH). Menion mus be made ha he newes e-devices (lapops, ables, smarphones, ec) appear as more and more challenging compeiors o PCs and his may explain why he rae of PC ownership increases more slowly in he laer years of he daa. According o a prominen Hungarian compuer magazine he need for ables among households is higher han for lapops since Augus 202 (Harangi, 202). Par Q_2: Is he infrasrucure of info-communicaion ools suiable among he sudens of KRF? The survey conduced among he freshmen of KRF shows an even more convincing impression. To he survey quesion Do you possess a leas one of he following elecronic devices: PC, lapop, able? he following able is developed (Figure 3): Figure 3: PC, lapop or able ownership among he sudens of Karoly Rober College ( ).

7 Laszlo F. MUCSICS. Hardships in Hungarian Teriary Educaion: The Economic Role of Privae Inernal Rae of Reurn in Online Educaion Shorage of echnological devices among he sudens of KRF is no an issue. In 20 almos all sudens are equipped wih some elecronic devices. The only person who does no possess any of he devices (in 20) is a pensioner who carries on her educaion jus for he love of learning. of educaion in he 2 s cenury 67 Par Q2_: Is he Inerne accessibiliy suiable in Hungary? (Wha is he rend?) Figure 4: Number of Inerne subscripion beween 2003 and 202 in Hungary (source: KSH). The rapid and dynamic progress in he number of Inerne subscripions (Figure 4) is due o he sharp price and echnological compeiion among Inerne providers. Mobile Inerne usage has increased 60% by 202 compared o he previous year as is price is becoming more and more affordable. The applicable rend is exponenial 24x y = 49,62 e r 2 = 0,9. This resul of he exponenial growh means ha he number of Inerne subscripions reached 4.3 million and oday 65.3% of he Hungarian populaion (from infans o anediluvians) has Inerne access. Par Q2_2: Is he Inerne accessibiliy suiable among he sudens of KRF? To survey quesion Do you have broadband Inerne access in your home? (no mobile) he nex able is presened (Figure 5). Figure 5: Percenage of Inerne subscribers for firs year sudens of KRF.

8 of educaion in he 2 s cenury 68 Laszlo F. MUCSICS. Hardships in Hungarian Teriary Educaion: The Economic Role of Privae Inernal Rae of Reurn in Online Educaion Almos all sudens a KRF possess Inerne access in heir homes. The rapid and massive growh of informaion communicaion ools and broadband Inerne boh globally in Hungary and locally a KRF give grounds/basis o alking abou he implemenaion of new learning environmens. Par Q3: Are he sudens of KRF able o manage basic insallaion aciviy? (Compuer lieracy, compuer knowledge) Suiable level of elecronic devices provides only one segmen of e-learning educaion. Compuer knowledge (usage of ex ediors, insalling differen sofware applicaions) of fuure sudens also plays a significan role when launching and designing a relaively new way of educaional environmen. To survey quesion Are you capable of insalling a sofware program individually wih he help of an insall book? he nex char is given. Figure 6: Percenage of sudens who are able o handle wih insallaion among he sudens of KRF. Percenages of from his char (Figure 6) are lower han in he previous cases. Alhough growh can be observed, a significan percenage (~20%) of presen sudens is no able insall sofware. Improving sudens echnological skills relaed o deail-oriened descripions of echnical issues are required before swiching hem ino e-educaion from he radiional one. A emporary ransiional suppor is needed o provide help for sudens in need. Technological compeencies (info-communicaion ools, broadband Inerne, compuer knowledge) have been examined so far and he resuls sugges ha he devices available in he early 2s cenury are enabling agens for launching e-educaion in higher educaion. Technology can creae new possibiliies; however echnology alone canno ensure success. To achieve he success of e-higher educaion all crieria of ecosysemaic view of educaion mus be undersood. Wha is he ecosysemaic view of educaion? I is he mixure of echnology, conen, pedagogy and value (Kim, 202). Focusing only one of hese componens while launching a new educaional model would no lead o successful oucomes. The presence of info-communicaion devices has been examined so far; and he 2s cenury abounds wih differen educaional echnology soluions. Karoly Rober College has been using Moodle, Learning Managemen sysem since Ocober, A presen, he College offers approximaely 00 web-faciliaed/ blended learning courses for sudens. Many program developmen companies appear wih educaional echnology soluions ha sell on he marke of e-educaion bu he focus mus be on effecive educaion echnology ha can susain. However, susainabiliy is crucial in he case

9 Laszlo F. MUCSICS. Hardships in Hungarian Teriary Educaion: The Economic Role of Privae Inernal Rae of Reurn in Online Educaion of launching a new educaional model; his paper does no inend o deal wih his issue. The pedagogical aspecs of he educaional echnology Moodle have already been examined by he auhor (Mucsics, 2009). The firs se of quesions and answers provided posiive feedback on available echnology and echnological devices. I allows coninuing wih an economic analysis by focusing on he sudens cos-benefi efficiency of he e-learning educaion. One of he available mehods of examining cos effeciveness is he Inernal Rae of Reurn (IRR) o educaion. I is a sandard measure of he profiabiliy of underaking addiional years of schooling. The privae raes of reurns of he ) radiional eriary educaion and 2) he e-learning eriary educaion are being analysed. The saring poin is ha in human capial heory schooling is comprehended as an opimising invesmen decision (Becker, 967). The basic noion is ha higher educaion is supposed o increase he produciviy of he individual, ha is, more skilled individuals are paid higher salaries. How long are he individuals supposed o inves in exra educaion? Logically, he invesmen should coninue o he poin where he presen value of expeced fuure earnings from exra schooling is equal o is sum of all direc and indirec coss. The applied mehod for calculaing he balance of coss and benefis for individuals is as follows (Varga, 998): of educaion in he 2 s cenury 69 n = j+ ( Wh Wh ) ( + = j = ( Wh + Ch) ( + wih: h is a given level of educaion, h is he previous level of educaion, Wh and Wh are he wages of he given levels of educaion, Ch is he cos of obaining he h level of educaion, n is a number of working years, j is he number of years needed o accomplish h educaion, is for ime, r is for IRR o educaion. The ask is o find r (rae of reurn) ha makes he wo sides (lef: addiional income, righ: cos of exra edu- caion) equal. Before comparing he radiional versus e-learning forms of educaion some explanaion and laer correcion need o be added o he coss side (righ side of he equaion). I supposes ha during he years of learning he individual suspends his/her employmen, ha s why W h is placed in he nominaor of he (coss) fracion serving as he missing income (opporuniy cos). Should ha really be here? In par-ime eaching here is one hing ha is consan hrough several consecuive semesers, and his is he ime of exams. Sudens insis on having exams on he weekends. When conducing he survey I also placed quesions referring o why i is imporan o have he exam on weekends. The answer was hough-provoking: a leas 74% of he respondens (for each academic year beween 2006 and 202) are employed while sudying. If hey are he majoriy, hen he IRR o educaion should be modified o his: n = j+ ( Wh Wh ) ( + = j ( Ch) = ( + ) r Anoher immense aleraion occurred o he years of 990s, i is he inroducion of uiion fees in Hungary. While in he 990s afer admission he Hungarian higher educaion was free of charge, oday more han half of he par-ime universiy sudens pay for heir educaion. I means ha he cos of educaion can be divided ino wo pars direc coss (e.g. uiion fee, admission fee, books and equipmen fees) and indirec coss (e.g. ravel, accommodaion). Insead of using C h for he cos of accomplishing h educaion I sugges dividing i ino C direc

10 of educaion in he 2 s cenury 70 Laszlo F. MUCSICS. Hardships in Hungarian Teriary Educaion: The Economic Role of Privae Inernal Rae of Reurn in Online Educaion and C indirec coss: n = j+ ( Wh Wh ) ( + = j ( Ch _ direc + Ch _ indirec) = ( + If he C h _ indirec can or could be reduced by launching a new educaional design (disance educa- ion), i means ha he value of r mus increase, hus providing higher profiabiliy for invesing ino educaion for he indi- vidual. The quesion is o wha exen he C h _ indirec can be reduced. Wha is he percenage of he possible reducion compared o he sum of all cos? I figured ou his number by an experimen ha followed he 6-year-long survey. The experimen sudens group of he research was he firs year par-ime (non-campus) sudens of he academic years. This group of sudens (38 members) is required o ake par physically in consulaion hours during he semeser ha usually akes place a weekends. In one semeser hey have o complee 7 courses and each course requires 3 conac occasions. I means ha hese sudens come o Karoly Rober College 2 imes in one semeser. One of he 7 courses is Economic Mahemaics I. In his course he lecurer (and his case: he auho mees he par ime sudens hree consecuive Saurdays during he semeser. The experimen was ha a videoconference sysem 2 was applied as an alernaive possibiliy o ake par he Economic Mahemaics I course. 2 sudens ou of 38 used his echnology and no insallaion or echnological were deeced among hem while preparing for he online conac. During he acual eaching aciviy no online conac was broken; he visual and voice ransmission worked properly. The conference sysem also allowed he online sudens o ask quesions and share opinions hus making he educaional process collaboraive. All he 38 sudens were inerviewed afer accomplishing he course. The auhor was eager o know why he 2 sudens chose he form of online eaching and why he oher 7 did no. The res of he quesions concerned he online sudens. Par_2_Q: Why did no you choose he possibiliy of online learning? (7 sudens) The answer sheer covered differen possible answers bu i also offered o give individual reason(s). More han one answer could be ickled (Figure 7). Figure 7: Reasons why NOT aking he online course. The acual number is higher as each course ends wih a verbal or wrien exam hosed a Karoly Rober College. 2 NIIF serves as a framework for he developmen and operaion of he nework in Hungary, he program covers an inegraed compuer neworking infrasrucure

11 Laszlo F. MUCSICS. Hardships in Hungarian Teriary Educaion: The Economic Role of Privae Inernal Rae of Reurn in Online Educaion The answer live close o college is surpassingly high ha also means ha he cos of ravelling is no subsanial and visiing he campus is no sraining. of educaion in he 2 s cenury 7 Par_2_Q2: Why did you choose he online aendance? (2 sudens) Figure 8: Reasons why aking he online course. I can be clearly seen ha he ravelling disance and ravelling cos are deermining facors in choosing he online aendance (Figure 8). Par_2_Q3: How much do you hink you have saved wih online aendance on Economic Mahemaics I course insead of coming o campus? (3 evens alogehe Figure 9: Disribuion of savings in % among online sudens. The vas majoriy of he online sudens (76,2%) saved more han 20,000 HUFs (=00 US$) (Figure 9). How big is his amoun of money compared o he amoun of money sudens are required o pay for heir educaion? The Karoly Rober College offers several BSc courses and he cheapes uiion fee is 50,000 HUFs (=750 US$) per semeser and sudens may choose o opion of paying monhly. Credi-based uiion is applied only in full ime educaion. As a semeser lass for 5 monhs, sudens are required o pay 30,000 HUFs monhly (=50 US$). The number of compulsory courses varies from semeser o semeser bu sudens are expeced o accomplish a leas 7 in each semeser. Each course has compulsory aendance wo or hree

12 of educaion in he 2 s cenury 72 Laszlo F. MUCSICS. Hardships in Hungarian Teriary Educaion: The Economic Role of Privae Inernal Rae of Reurn in Online Educaion imes during he 5-monh-long semeser. I means ha he non-full-ime sudens spend mos of heir weekends on campus. The monhly paid C h _ direc is 30,000 HUFs (= 50 US$) while he C h _ indirec may also reach he same amoun of money or i may even be higher as he cos of repeaed ravelling beween home and college is money-conscious. There are several oher facors ha are no aken ino consideraion (exra accommodaion, exra caering, exra fees). Launching he possibiliy of online learning reduces he coss of disances. If sudens ake par in online educaion hey may save subsanial par of heir educaional coss. According o he calculaions, savings may reach 50% of heir educaional coss. If all heir coss are reduced, he IRR becomes higher. n = j+ ( Wh Wh ) ( + = j ( Ch _ direc + Ch _ indirec) = ( + if C _ decreases hen r increases. h indirec Conclusions The sudy found ha he ICT background of he sudens of he Karoly Rober College is suiable for aking online educaion seriously. Alhough he sudens echnological skills need o be improved by launching a emporary ransiional suppor o provide preliminary help for sudens in need. The privae cos of he individual in eriary educaion is no deermined only by direc cos bu he burden of indirec coss is also significan. In addiion, he acual educaional policies of he presen governmen, he local effecs of global crises (rising unemploymen, declining sandards of living) furher deepens he hardships of everyday life. Evidence reviewed above suggess ha online educaion is a possible soluion for decreasing he higher and higher coss of eriary educaion. The radiional non full ime form of educaion is o be convered ino a new form of disance educaion. All necessary ingrediens are a disposal for he ransformaion, and wha s more, he offered soluion of online educaion also carries economic values. Based on he full resuls of he auhor s experimen he Karoly Rober College is designing and developing is own unique non-full ime educaion sysem in Hungary for is fuure sudens. Acknowledgemens The auhor is deeply graeful o Professor Richard M Cruse (Iowa Sae Universiy, Iowa, USA), for paienly helping him hrough his research and for his review. References Allen I. E., & Seaman, J. (200). Class differences, online educaions in he Unied Saes. The Sloan Consorium. The USA. Babson College. Berger, G. S. (967). Human capial and he personal disribuion of income: an analyical approach. Naional Bureau of Economic Research.

13 Laszlo F. MUCSICS. Hardships in Hungarian Teriary Educaion: The Economic Role of Privae Inernal Rae of Reurn in Online Educaion Fry, R. (202). A record one-in-five households owe a suden hold deb. Pew Research. Social and Demographic Trends. Rerieved on 22 March 203 from: hp:// org/202/09/26/a-record-one-in-five-households-now-owe-suden-loan-deb/ Harangi, L. (202). Több able, min noebook (available only in Hungarian. Tile in English: More ables han noebooks). Rerieved on 22 March 203 from: hp://pcworld.hu/mar-obb-ablefogy-min-noebook hml Kárász, P. (202). Hungarian sudens decry sae sponsorship cus and oher changes. Rerieved on 22 March from: hp:// Kim, P. (202). Designing a new learning environmen. Sanford universiy, USA, Online course, week 2, 202 Fall. Mashal, A. M., & Kuddo, J. (2008). Economics of Learning syle. Tradiional versus E-learning. 8h Global Conference of Business and Economics. [CD]. Minh, Q. H., & Umesh, U. N., & Joseph, S. V. (2003). E-learning as an Emerging Enrepreneurial Enerprise in Universiies and Firms. Communicaions of he Associaion for Informaion Sysems, 2, -8. Minisry for Naional Economy (20). Hungary s srucural reform programme Rerieved on 22 March from: hp:// Reform.pdf Mucsics, F. L. (2009). The efficiency of an e-learning applicaion in eaching mahemaics. Thüringisch- Ungarisches Symposium 2009, Fachhochschule Jena, Universiy of Applied Sciences, Germany pp [CD]. Polónyi, I. (202). Felsőokaás és gazdaság. Szép, új felsőokaás világ Magyarországon (Teriary educaion and economy. Brand, new eriary educaion world in Hungary). Iskolakulúra, 2, Tilak, J. B. G. (2006). Global Trends in Funding Higher Educaion. Inernaional Higher Educaion, 42, 5-9. Varga, J. (998). Okaás gazdaságana (The Economics of Educaion) Közgazdasági Szemle Alapívány, Budapes. of educaion in he 2 s cenury 73 Advised by Saleh A. Alabdulkareem, King Saud Universiy, Saudi Arabia Received: March 0, 203 Acceped: March 29, 203 Laszló F. Mucsics MSc, Senior Lecurer, Insiue of Economics, Mehodology and Informaics, Karoly Rober College, Márai ú. 36., 3200 Gyöngyös, Hungary. Phone: Websie: hp://alia.karolyrober.hu/cms/nealon.xml?daa_id=460

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