The New
Proprietary Online Learning Model To Offer Fully Accredited, Postsecondary
Education To Busy Adults — Minus the Direct Loan Debt.
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THE PROBLEM
IS WELL KNOWN, and the personal stories that follow are often tough ones, with
a narrative that has become all too familiar.
College
tuition costs have skyrocketed over the last twenty years, and the accompanying
student loan debt has increased dramatically, financially shackling young adult
graduates and too often delaying individual dreams. But what happens when an
educational company believes that American colleges and universities have a
social obligation to solve the cost crisis?
We like to
tell our children that they can “own their future,” and today, fortunately,
they have become increasingly assured that we mean what we say. It is one thing
to offer encouragement in the form of an upbeat refrain. However, it is quite another to tackle these two
enormous impediments to higher education, affecting the majority of students
seeking an advanced degree. Swelling college tuition costs and massive student
loan debt are, after all, no small matter.
The crush of
numbers can still be surprising, not to mention intimidating: 70 percent of
2013 graduates had a median average of just under $29,000 in student loan debt.
Only one year later, the average debt load was around $33,000. Even adjusting
for inflation, that figure is more than double what students had to pay back
just 20 years ago. From 2005 to 2012 alone, average debt jumped a whopping 35%.
Americans today owe a staggering $1.2 trillion in student loans, a number that
now surpasses total credit card and auto loan totals.
Dreams Delayed
By Student Loan Delinquency
As though
that was not enough, the Wall Street Journal recently published “The Student
Loan Problem is Even Worse than Official Figures Indicate”. In which they
reported that nearly a third of all Americans now struggling to pay down their
student debt are at least a month behind. Delinquencies on student loans are
far higher than other types of consumer credit, and that includes mortgages,
credit cards, and auto loans. These are facts that can shake a student’s
confidence in the future – specifically, their OWN financial future.
Clearly,
something needed to be done.
We asked
ourselves, how can any graduate hope to “own their degree,” let alone their
future, burdened with heavy college loans? The immediate answer is that students
need to be able to graduate college without incurring crippling direct loan
debt. But how, amid the skyrocketing tuition costs of the traditional
university model that sits at the heart of student debt problem, could that be
possible?
Own Your
Degree. Own Your Future
As an
alternative to the standard university model that sits at the heart of student
debt problem, Patten slashed tuition costs, with development of an
award-winning outcomes-focused online learning model, designed to make higher
education accessible and affordable to all, no matter their age, location,
ethnicity or financial situation.
Flexible scheduling gives working adults the ability to adjust their
pace to meet the demands of their busy schedule. Exams are scheduled when
students are ready to take them. Once a student understands the material they
can test out of the course and move ahead.
With open enrollment and an affordable pay-as-you-go approach, there’s
no need for Educational loans.
Long Term
Advantages Of Graduating Without Direct Loan Debt
This allows
students working full-time, many of which are parents, to maintain their job
and afford their studies in the present. And most importantly enjoy the
long-term advantages of graduating without the burden of student debt, creating
wider possibilities. Upon completion, Patten University graduates can often
hold out for better paying, more promising jobs longer than indebted students.
They are also more likely to afford a monthly home mortgage sooner or even
start a family years earlier.
“Graduating
Debt-Free Means Students OWN Their Degree And OWN Their Future! “
Emerging as
a new model in higher education, Patten meets all eligibility requirements for
corporate tuition reimbursement. So it is no surprise that employer partnerships
have played a large role in our expansion. Through tuition assistance employees
can to keep their current job and work towards advancing their career at the
same time. Since Patten tuition cost is lower than the typical amount offered
by employers through tuition assistance, employees can earn their college
degree at no cost, books included. This is a game changer.
Increasing
possibilities by eliminating the need for additional student loan debt is not
only the benevolent thing to do, at Patten we believe it is the responsible
thing to do. After all, public taxpayers fund just under $200 billion a year in
government aid to higher education. So isn’t it incumbent upon all U.S.
colleges and universities to make sure they use every tool they have to increase
access and lower costs for their students?
This
socially responsible, fully accredited online university thinks so.
Source:
| https://educationloansinindia.wordpress.com/2016/06/23/finally-an-antidote-to-the-student-loan-debt-problem/ |
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