FOR IMMEDIATE RELEASE
(St. Petersburg, FL)— ULearning, the company building the largest distribution platform for online education, providing people real-world learning opportunities and connecting them with real-world earning opportunities, commented today on the recent Wall Street Journal report of the growing financial pressures of US colleges and Universities.
On January 4, 2016, the Wall Street Journal reported that the number of colleges and universities now subject to increased financial oversight from the federal government has risen 8 percent to 540 in just the past three months. The New York Times also previously reported that only approximately 500 of the 4,000-plus colleges and universities in the United States seem to have finances that are stable enough for them to be truly safe. The remaining colleges can no longer hold off the technological, demographic and economic forces quickly bearing down on them.
Students are not having it much easier either. Jeff Denneen of Bain and Company reported that, “The volume of student loan debt has surpassed $1 trillion and is now greater than credit card debt. Average tuition costs make up almost 40 percent of median earnings, and education has been growing at more than 3 times the rate of the Consumer Price Index.”