For-Profit School Plans To Cut Cost Of College Degree In Half

Career College Central Summary:

  • In the for-profit college sector, bachelor's degrees often cost students two to three times the price of those offered at state universities.
  • Rasmussen College aims to eliminate that competitive advantage with a business degree that could cost less than those offered at its public counterparts.
  • The Bloomington-based chain's plans for the low-cost alternative program are in the very early stages.
  • But if it succeeds, by the end of next year Rasmussen will offer what amounts to a $24,000 bachelor's degree.
  • That's less than half of the school's $54,000 standard course, not including books and fees.
  • The new degree would build on Rasmussen's new $14,000 associate's degree in business, which uses a form of automated, self-paced learning.
  • It would add a yet-to-be designed $10,000 "completer degree."
  • "We believe [the $10,000 bachelor's degree] is attainable," CEO Tom Slagle said.
  • "But it's only attainable through providing creative learning models."
  • Rasmussen already employs one such model, its Flex Choice program, a lower-cost alternative to two of its business-related degree programs.

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