Sa’ar Karp Gershon, José A. Ruipérez-Valiente, Giora Alexandron

• Massive Open Online Courses (MOOCs) offer online courses at low cost for anyone with an internet access. At its early days, the MOOC movement raised the flag of democratizing education, but soon enough, this utopian idea collided with the need to find sustainable business models. Moving from open access to a new financially sustainable certification and monetization policy in December 2015 we aim at this change-point and observe the completion rates before and after this monetary change. In this study we investigate the impact of the change on learners from countries of different development status. Our findings suggest that this change has lowered the completion rates among learners from developing countries, increasing gaps that already existed between global learners from countries of low and high development status. This suggests that more inclusive monetization policies may help MOOCs benefits to spread more equally among global learners.