With America’s student debt crisis reaching its highest point ever at over $1.5 trillion, the growing costs to attend a traditional four-year college or university is top of mind.
America’s education system as a whole is far too complex and intersected with other socio-economic factors for there to be easy fixes to this problem, Dan Rosensweig, CEO and president of Chegg, an educational resource company that started out offering online textbook rentals, said in an interview on Yahoo Finance’s On the Move.
“We need to make learning more available and that means it has to be downloadable, on-demand, affordable and adaptive,” he said, adding that a host of parties including academic institutions, corporations, families and students need to take part in solving the problem.
According to Rosensweig, learning should be customizable and personalized for each student and how they learn best, “to understand what your strengths and weaknesses are and improve you [and] level you up wherever you are... that’s all we try to do.”
Online learning is just part of what can be done to improve access to education.
“The education space is absolutely undergoing realignment right now and it should,” he said, noting that the current system for higher education isn’t serving the main constituent that it should: the student, “who go to college for the purpose of getting a job.”
Rosensweig said Chegg looks at where the educational gaps are and how it can best provide them direct to students. Analysts estimate that the company’s biggest product, Chegg Study, which is s $14.95 a month, will be used by an excess of 4 million people by the end of the year.
Marabia Smith is a producer for Yahoo Finance On the Move.