Rapid Response: How Campus won over Sam Altman & Shaq, with founder Tade Oyerinde
Aug 27, 2024
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Tade Oyerinde, founder and Chancellor of Campus, an innovative online community college, discusses revolutionizing higher education. He addresses the high student loan debt crisis and how Campus's unique model, including competitive pricing and extensive student support, is making education accessible. Sam Altman shares insights on investing in educational ventures, while Shaquille O'Neal adds his celebrity perspective on business innovation. Their collaboration highlights ambitious goals aimed at transforming societal impact through education.
Campus revolutionizes community college education by prioritizing affordability and support services, resulting in higher graduation rates and reduced student debt.
Founder Tade Oyerinde emphasizes the need for higher education to treat students as customers, enhancing retention through a compelling purpose and innovative business model.
Deep dives
Innovative Community College Model
An online community college named Campus aims to transform the higher education landscape by making education accessible and affordable. Founded in 2022, it offers tuition around $7,200, attracting professors from prestigious institutions while addressing rising student debt. Tade Oyerinde, the founder, emphasizes that the conventional model of community college often fails to graduate students, with around two-thirds leaving without a degree and accruing debt. By leveraging a live online learning format, Campus aims to improve student engagement and success rates, ensuring that students can transition smoothly to four-year universities after completing their coursework.
Enhancing Student Support Services
Campus seeks to improve graduation rates by implementing various support services that eliminate barriers for students. The institution offers each student a success coach, providing personalized assistance similar to the support found in the CUNY ASAP program, which has proven effective in New York City. Additionally, Campus covers essential expenses like laptops, Wi-Fi, and mental health counseling, removing financial stress often associated with education. These innovative approaches not only foster a better educational experience but also contribute to higher retention and completion rates, enhancing the overall effectiveness of the community college model.
Rethinking Higher Education's Business Model
Tade Oyerinde discusses the need to rethink how higher education institutions operate, focusing on treating students as customers to improve retention and success. He highlights the importance of having a compelling societal purpose behind the business model, which can ease fundraising efforts by presenting potential investors with a vision for transformative global change. Campus's approach ensures that if students thrive and graduate, they can enter the workforce without debt, significantly impacting society positively. This forward-thinking framework encourages other educational entities to reconsider their models, aiming for efficiency while prioritizing student success.
With student loan debt at record highs, higher education is at a crossroads. Campus is an all-online community college that’s built a business model around competitive pricing, resources for students (like giving them a laptop and paying for home internet), and compensating professors well above the national average. The start-up also achieves high graduation rates, while maintaining an impressive bottom line. Campus founder and Chancellor Tade Oyerinde shares how he wooed investors like Sam Altman and Shaq, and has won-over major partners from Forever 21 to Arizona State University and Butler University.