Alternative Ways to Pay for College

Imagine a day when a college degree takes just one year to complete. Tuition is free and, upon graduation, companies like Spotify and Lyft want to hire you.

Adam Braun, founder of MissionU, wants that day to be now.

Earlier this summer I spoke with Braun to learn more about his latest venture MissionU, a program that’s trying to change the way we approach and afford higher education.

(You may recognize Braun as also the founder of Pencils of Promise, an organization that builds schools, trains teachers and fund scholarships around the world.)

While college students typically attend school for four or more years and borrow money to afford tuition, MissionU is a one-year program that has an income-share agreement with students.

Students get charged tuition only once they become gainfully employed upon graduation.

The program’s current (and only) major is data analytics and business intelligence, which Braun says is the top skill set many competing companies are increasingly seeking in new hires.

The average 2016 graduate is carrying about $37,000 in student loan debt, up six percent from the previous year. It’s not uncommon for some to owe double or triple that amount, which makes for a challenging financial life once stepping into the “real world.”

For more alternative ways to pay for college check out the rest of the article on the Mint blog.

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