This is not exactly true. I've been teaching online since 2012. Even factoring in a bit of IT, my (largely unneeded) bosses, and paying my adjunct stipend, online classes were a bargain for the places I've taught.

3-4 students' tuition in a 20-25 student class was enough https://twitter.com/UWankings/status/1310157099746418688
That's one main reason institutions got into the online education game in the first place. A proverbial cash cow.

Now my classes are robust and always have been - videos, lesson pages, handouts, worksheets, solid structure and assignments. Students want to take my online classes
But that is definitely NOT all of them. One of the main comments on my YouTube videos is that a student is stuck in an online class providing very few resources. Basically just a correspondence course. They use my videos to understand material their online teacher won't teach
As far as online education requiring expensive equipment, I call bullshit. You can spend lots of money if you want. You can also use an inexpensive camera, a lapel mike, a cheap tripod, lighting you can get for $100 on Amazon, and use the editing software already on your computer
We did shell out about $500 back in 2013 for a blackboard, which I've used for about 1000 or so course videos. That's nice to have. That has been my biggest purchase in my 8 years of teaching online - a good investment.
If you want to create videos that are even less intensive, like say voice over powerpoints, your extra cost is. . . you got it, NOTHING. You use the computer and software you've already got.

But. . . you might want a good mike. They're not expensive, fortunately
To be sure, there's a learning curve, so someone might say: that's where the real costs in online education come from - all those tech people who have to help faculty out.

Some tech/faculty development people are helpful. A lot of them are basically useless. Some in between
If its an issue with the CMS/LMS, you're often better off just going to your CMS/LMS tutorials than asking a tech/faculty development person (who is probably looking stuff up on that very tutorial - because they don't actually know!)

Same goes for so many other components
Rant done

Let me say that we shouldn't denigrate online education. A well-designed, robust class with a good teachers is highly effective. And good teachers deserve to be paid well - and better than they are

But online ed doesn't have all these costs people like to say it does
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