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The Minerva Project founder Ben Nelson on how the project helps students get an Ivy League education online at a fraction of the cost.
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Right now -- just -- the new.
-- -- student loan debts are reaching a trillion dollars in universities are.
Capping the sizes of their incoming classes but is it possible.
For -- to get an Ivy League caliber university education for an affordable price.
My gosh -- -- another as Ben Nelson as the founder and CEO of the minimum fine thanks aimed at bringing -- education online to students around enrolled at a fraction of the cost.
So haven't had a plan to do that -- I mean that's the big question on your joining us from San Francisco one of the most expensive places to go to school -- You got big names behind -- but how do you plan to make this reality.
A show -- it's an excellent question and it's actually remarkable.
How you can improve the quality of education.
While dramatically cutting the price if you start from a clean slate.
So when you get to re imagine.
Every aspect of university from.
Your criteria and in the way -- you admit students and composure class two.
The way deliver instruction to the way you construct a curriculum.
-- faculty model -- your student experience model where they live and how they.
Experience those four years as they go through school.
All the way to -- career services and alumni model.
You can think from a clean slate and figure out what are the ways in which we can increase the quality of every one of those steps.
While reducing costs and making sure that it's accessible and affordable -- wide group of -- -- let's just be specific.
Now about what your planning to do.
As far as I understand -- this is that this is an on line model is that is that correct because.
If it is an online model I would wonder is the parent of -- student and I'm not happy paid 60000 dollars a year which is what I pay all in.
It's not exactly ideas on talking about Boston College here were my daughter goes but it's still it's a lot of money I'd like to cut that.
But not necessarily for an on line experience because there -- experience -- get on campus that you couldn't get on my right.
It exactly right and that's in fact what it exactly what the core of the never project is all about the way we're looking at some of the people involved Larry Summers of course was head of Harvard University.
Bob Kerrey was head of the new schools that these are these are not slouch as you got some real heavy hitters here -- -- Well yet -- we've gotten tremendous amount of support I think -- he has of the type of experience we're gonna create for state.
So the concept from a nerve.
Is that we want to deliver our course work our actual curriculum.
Via technology platform we're still going to be a 100% seminar which means that there -- -- -- be no classes and the -- That are going to be more than 25 students in fact the overwhelming majority.
Will be under twenty students.
But then those who classes just like we're doing now are done over video and the reason for that is that when you get people into a particular room.
A lot of students don't show up when they have a conversation at vanishes into history.
When you actually have a one camera to one person ratio you can preserve what happens and -- upon -- I did go back then when the money have you back to the money with you for a second though because even -- this is a new technologically new way to go to school is still gonna cost money and student loan debt.
Is that crisis levels right now in this is still at a cost people -- -- her to go to -- It it it is and people will be living in residence halls and so they're gonna have an experiential component.
That -- where you're gonna be living and actually up to seven different countries while you go through your undergraduate curriculum and so rather than having.
You're your child goes and spent four years in one location whether it be in Boston or in any other location whether it be urban rural.
Batman nerve on the idea is you want yeah and experience the world.
That's the reason that we have the technology platform to enhance the quality of education we also and enhance the quality of the offline experience as well.
And yes it will cost money because living in.
Various places does cost.
Cost room and board you have to -- to eat.
But on the educational side we're committed to delivering -- tuition that is well under half.
Of the tuition at existing Ivy League universities and so we save a substantial amount of money for the student in that regard while increasing quality.
What I like about a by the way is that it's your your -- it's a for profit institution I thought that.
Harvard and all the others act like -- for profit for years ago I didn't billion dollar endowments at least you're honest about it say yes this is a -- Providence is look we got on the rabbit and best of what do you -- please come back and let us know how it turns out okay.
-- -- -- Ben Nelson is.
