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Cost-Cutting College: Education's Future

For years, American families have accepted soaring tuition costs. But the recession has forced universities and students to see cost-cutting as a new way of life. Read Transcript


REPORTER: AARON COTTON LOVES

WORKING WITH CHILDREN AND PAYING

FOR COLLEGE AS SHE GOES, BESIDES

TEACHING HIP HOP, SHE WORKS

THREE OTHER JOBS WHILE GOING TO

SCHOOL FULL TIME.

PART OF A NEW GENERATION HOPING

TO DOWN SIZE OR ELIMINATE

COLLEGE ALTOGETHER.

REPORTER: THIS DESIRE OR

SHALL WE SAY DEMAND HAS COLLEGES

RACING TO COME UP WITH

AFFORDABLE DEGREES.

RECENT PRICE ROSE BY

2.9%.

CHRISTIAN COLLEGES ALSO CUT

BACK.

DANNEL NELSON --.

MANY HAVE UNDERGONE PROGRAM

PRIORITIZATION PROCESSESES.

REPORTER: THIS HAS LED TO NEW

WAYS OF EDUCATING.

IMAGINE NOT LUGGING TEXTBOOKS

AROUND.

A TEXTBOOK-FREE DEGREE.

IT IS NOT UNUSUAL FOR A

STUDENT TO SAY THE BOOKS FOR

THIS CLASS ARE HALF AGAIN AS

MUCH AS THE TUITION AND CAN'T

AFFORD IT.

REPORTER: STORIES LIKE THAT

LED TIDE WATER COMMUNITY COLLEGE

TO MAKE HISTORY FIRST

INSTITUTION OFFERING A DEGREE

THAT COST STUDENTS NOTHING FOR

COURSE MATERIAL.

EXPECTED SAVINGS FOR A TWO-YEAR

DEGREE, $2,000.

OPEN EDUCATION MA MATERIALS FREE

ONLINE.

WE ARE NO LONGER CONSTRAINED

ON WHAT EXISTS BETWEEN FRONT AND

BACK COVER OF A TRADITIONAL

TEXTBOOK.

REPORTER: COLLEGES AND

UNIVERSITIES ARE GETTING

CREATIVE WITH FINANCIAL AID,

HELPING GRADUATES REPAY IF THEY

EARN LESS THAN 38,000 A YEAR

ERIN USES SEVERAL STRATEGIES TO

KEEP IT LOW, TAKING AS MANY

COMMUNITY COLLEGE COURSES AS

POSSIBLE.

IT IS A THIRD OF THE COST.

REPORTER: SHE IS ALSO GOING

ONLINE.

REGENT UNIVERSITY EXECUTIVE VICE

PRESIDENT PAUL BONACHELLI SAYS

IT WILL DRIVE FOR THE FUTURE.

U ? YOU CAN SCALE IT.

YOU

CAN

MAKE IT

POSITIVEABLE

TO

TEACH MORE WITH

FEWER

RESOURCES.

REPORTER: HE ADMITS IT BRINGS

OUT SKEPTICS AND CRITICS BUT

STUDENTS WANT IT.

WHAT PEOPLE ARE COMING TO

WHAT IS THE ESTABLISHED BRICK

AND MORTER CAMPUS ALSO

DELIVERING EDUCATION ONLINE?

THEN THE STUDENTS ARE MORE

ATTRACTED.

QUALITY IS ALREADY THERE,

RANKINGS ARE THERE AND I CAN GE

T

THIS

EDUCATION EVEN THOUGH I

CAN'T LEAVE MY HOME.

REPORTER:

CHRISTIAN

COLLEGES

HAVE A

SPECIAL MISSION

HELPING

THOSE

ENTERING THE MINISTRY WHO

CAN'T AFFORD LOANS.

HIGH HOPES AND GROWING MONEY.

A MOOC ALLOWS YOU TO TAKE IT

AT YOUR OWN PACE.

THESE AREN'T TIED TO A

SEMESTER SCHEDULE AND FREE FOR

STUDENTS NOT PURSUING A DEGREE.

THOSE THAT NEED A COLLEGE CREDIT

CAN RECEIVE A DISCOUNT.

FROM ENGINEERS TEACHING THEIR

STUFF AT MIT TO A WHO IS JESUS

CLASS AT REGENT.

LATEST ADVISE FOR STUDENTS, KEEP

YOUR OPTIONS OPEN AND COMPARE

FINANCIAL AID PACKAGES BEFORE

MAKING FINAL DECISIONS.

PLAN AHEAD BY TAKING COLLEGE

CLASSES IN HIGH SCHOOL AND BE

ORGANIZED.

YOU HAVE TO BE DETERMINED.

IF YOU WANT IT, YOU CAN GET IT.

REPORTER: HEATHER SELLS, CBN

NEWS.

EMBED THIS VIDEO


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