• Rapid increase in universities under financial oversight by the federal government increased 8% in less than 3 months to 540 under review
• ULearning’s online education platform addresses new financial realities of brick and mortar universities and unsustainable costs for students
ST. PETERSBURG, FLORIDA, January 15, 2016 – 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, today commented 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 increase financial oversight from the federal government 8% to 540 in just the past three months. The New York Times had also previously reported that only 500 or so of the 4,000-plus colleges and universities in the United States seem to have stable enough finances 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% of median earnings, and education has been growing at more than 3 times the rate of the Consumer Price Index.”
ULearning and others are endeavoring to address the problem that is very difficult for traditional educational models to address. In addition to the unsustainable costs, students are learning differently these days. ULearning intends to provide the shortest path between learning a valuable and marketable skill and a dream job for students.
Marc Hardgrove, owner of a number of highly successful e-commerce companies and Partner at ULearning stated, “While we empathize with the increasing financial pressures of brick and mortar Universities, and know the problem is a lot bigger than the 540 under US government oversight, we also recognize that the problem is only going to get worse. Students cannot afford more, and Universities have such big infrastructures and embedded fixed costs that it is very difficult for them to change. New forms of education delivery that are more effective and significantly lower cost like ULearning, Udemy, and Udacity will become the norm, but it will be very difficult for traditional educational institutions to compete in a new reality.“
ULearning is the online education company that helps people maximize their potential and earning power. Unlike other online education sites, ULearning provides people real-world learning opportunities and then connects them with real-world earning opportunities. ULearning is a global distribution platform of online education, and intends to have the broadest distribution of online courses globally to provide maximum reach for teachers to monetize their knowledge and expertise. In addition, the Company is partnering with a range of Companies and providing links to opportunities to enable students to maximize their earning potential. ULearning is dedicated to making a difference in unemployment and underemployment around the world, especially with young adults and inner-city youth. The Company’s website is www.ulearning.com.
Safe Harbor Disclosure
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements reflecting management's current expectations regarding future results of operations, economic performance, financial condition and achievements of ULearning. Management believes these assumptions to be reasonable but there is no assurance that they will prove to be accurate. Forward-looking statements, specifically those concerning future performance are subject to certain risks and uncertainties, and actual results may differ materially. ULearning competes in a rapidly growing and transforming industry, and other factors Company's may affect the Company’s operations. Unless required by applicable law, Ulearning undertakes no obligation to update or revise any forward-looking statements.
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