On average, students pay $35,000 a year for the privilege of being educated at a private nonprofit American college. In December of 2011, indebtedness among college graduates reached an all-time high of one trillion dollars. But with unemployment among 16 to 29-year-olds also sky-rocketing, many young people are wondering whether a degree from a prestigious university holds the same value today as it did for their parents’ generation.
“Americans are hungry for better alternatives, yet fearful of leaving the tried-and-true path,” wrote Think Tank blogger Jason Gots in a previous post. Andrew Rosen, chairman and CEO of Kaplan, believes passionately that online universities could fill that role.