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Gene Wade, University Now CEO and co-founder, on how his model is allowing students to attend schools on an “unlimited data plan” model.
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-- college for 199 dollars a month.
That's what university now is charging for unlimited online classes we -- joined by its co-founder CEO Jean -- Thank you very much for being let us -- And just so let's start with how many.
Students have signed up for your service thus far and what do you want to what I want to be in a year five years.
Great so we opened in about April of this year we've had about 6000 students on our platform becomes an open platform.
And a little a drip -- under a thousand directly enrolled in the school of and we hope to be is bigger yeah good for you -- like every business -- grow bigger.
And have not throwing a curve ball I mean your resume here says that that you have of an MBA from Wharton and and you have a JD from Harvard University.
And now you're trying to persuade me that G I shouldn't -- for only 200 dollars a month.
My degree with the university -- thought -- be anywhere near as bibles the degrees you have from Wharton Harvard isn't.
Well you know it's interesting way to put it I mean their 4600 schools in the United States most of no and no one's ever heard.
A very small segment of the US higher education population -- educated elite schools.
But a disproportionate.
Amount.
Of the resources and attention focused on him and that's part of the challenge we done is taken and open enrollment school giving you any smarter option.
For going to college so you don't have to go borrow.
Six or 7000 dollars and no one program.
Your degree you can come here and get it comparable degree that you get at all at the at a state university and you can get that for fraction.
Cost yes one problem I could see those are given at 56%.
Of college students today have.
Government guaranteed loans.
And loans and up almost a trillion dollars since the money so -- -- -- when I -- don't have to show credit rating -- they give -- -- be no matter what.
Does that make it harder for you to sign up stated since I don't care about the cost.
I think people are now understanding what that means I think everybody knows a horror story of someone.
When took -- a whole bunch of debt it can't afford to pay it so it's not the education that's the problem is the amount of debt that you're taking on that's the problem.
And I think that consumers are now getting smarter about that and they're looking for smarter options in fact the fastest growing programs and schools in the country are ones that are affordable.
Because the fastest growing part of the market is working adults who don't give grants and who were being -- -- -- pocket of our.
OK now let's get into the how how are -- even to do it so cheaply if it merely a lack of university infrastructure and buildings is that the big cost differential.
So there's a few things a lot of right now and education a lot of where the dollars goes outside of the classroom -- look at a typical classroom.
Students are paying call -- -- to -- dollars for class -- thirty students in the class do you really think the teacher -- 45000 -- class that's not what's happening.
Most of its being soaked up an infrastructure a lot of -- -- things that don't contribute to student learning.
What we've done is made our investment around making a personalized.
Yes highly a very compelling learning experience for students we built the technology platform.
And allowed -- to go your own pace that gives you feedback.
And that.
Put you in Constant Contact with -- instructor all right your investments gone nicely done thank you very much and good luck -- -- -- -- Sergey laid CEO of the university now.
Great thank you well past what it was a dirty word --
