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So, what is the goal then of the flat rate tuition plan?
Flat rate tuition, the goal is to shorten the time to degree.
A lot of people don't think about this is, "how much money can you save
if you graduate in four years versus five or six?"
and its a little bit astounding, especially if you're a non-resident.
So, if you graduate in four years and you move on, basically, you've saved yourself at
least a year or two
of additional cost, educational cost,
um you know, it could be for a resident, it could be
anywhere from ten to fifteen thousand dollars, for a non-resident it could be
anywhere from
thirty to fifty thousand dollars, and
you are paying then to
get the same degree, that had you stayed on track.
That's why the price point is 15 hours, if you go 15, 15,
maybe a couple in the summer, 15, you're gonna graduate in four years.
And so, you're not gonna pay th-that extra year of
housing, tuition, mandatory fees for either your fifth or sixth year, because you
decided to just take 12 every semester
and you got behind. So, you shorten the time to degree, it costs you less,
and then you have to factor in that you're entering the workforce a year or
two
earlier than if you hung out in college another year or so,
so that you're actually making positive revenue
to the plus side, whereas, if you stayed in college it would have all been to the
negative side. So, when you factor all that in,
I mean, you could get to a six-figure swing between money saved versus money
earned by graduating in four years and shortening your time to degree.
The other piece is, that students who are borrowing,
they can-they can lower their overall student loan debt if they get out in
four years and don't have to take out that fifth year loan.
Credit hour production seems to be up, um, students are taking more hours it-
it looks like everybody sort of understands the program and we're very
excited about the fact that we think we're going to accomplish our goal
of shortening the time to degree.