Students are racking up loans they can’t repay.
Student debt levels have reached an all time high — rising from $42 billion in the last quarter to $956 billion, according to the New York Fed’s Quarterly Report released earlier this week.
If those two numbers aren’t shocking and hitting students hard enough — the average salary for full-time workers ages 25-34 with a Bachelor’s degree has dropped nearly 15 percent since 2000.
Check out this chart:
Thanks to advances in technology, there are options for students who don’t want to graduate with a mountain of debt. One of our portfolio companies, StraighterLine, offers online courses for $99 each — courses such as English Composition, College Algebra and Western Civilization courses that are required for a Bachelor’s degree. Most four-year colleges allow student to transfer these course credits from other institutions, like StraighterLine.
The negative stigma once associated with online education has flown out the window. These courses provide students with a quality education at affordable prices — a path to a diploma you won’t be paying for until you retire.