{"id":67083,"date":"2019-05-01T16:34:05","date_gmt":"2019-05-01T20:34:05","guid":{"rendered":"http:\/\/danielschristian.com\/learning-ecosystems\/?p=67083"},"modified":"2019-05-02T12:56:26","modified_gmt":"2019-05-02T16:56:26","slug":"student-loan-debt-43m-borrowers-1-5-trillion-aver-debt-47671-cengage-and-mcgraw-hill-to-merge-to-try-to-address-this","status":"publish","type":"post","link":"http:\/\/danielschristian.com\/learning-ecosystems\/2019\/05\/01\/student-loan-debt-43m-borrowers-1-5-trillion-aver-debt-47671-cengage-and-mcgraw-hill-to-merge-to-try-to-address-this\/","title":{"rendered":"Student loan debt: 43M borrowers, 1.5 trillion, aver. debt = $47,671  |  Cengage and McGraw-Hill to merge to try to address this"},"content":{"rendered":"<p><em><span style=\"color: #800000;\">From DSC:<\/span><\/em><br \/>\n<a href=\"https:\/\/www.cbsnews.com\/video\/millennials-struggling-under-the-burden-of-student-loan-debt\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Here&#8217;s a ~4 minute piece from CBS News re: student loan debt. <\/strong><\/a><\/p>\n<p><span style=\"color: #800000;\">Here are two excerpts from that video:<\/span><\/p>\n<p><a href=\"https:\/\/www.cbsnews.com\/video\/millennials-struggling-under-the-burden-of-student-loan-debt\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" class=\"aligncenter wp-image-67086 size-full\" src=\"http:\/\/danielschristian.com\/learning-ecosystems\/wp-content\/uploads\/2019\/05\/StudentDebt-1-CBSNews-5-1-19.jpg\" alt=\"the cost of higher ed is out of control; 43 million borrowers now owe 1.5 trillion\" width=\"100%\" height=\"100%\" srcset=\"http:\/\/danielschristian.com\/learning-ecosystems\/wp-content\/uploads\/2019\/05\/StudentDebt-1-CBSNews-5-1-19.jpg 799w, http:\/\/danielschristian.com\/learning-ecosystems\/wp-content\/uploads\/2019\/05\/StudentDebt-1-CBSNews-5-1-19-150x110.jpg 150w, http:\/\/danielschristian.com\/learning-ecosystems\/wp-content\/uploads\/2019\/05\/StudentDebt-1-CBSNews-5-1-19-768x562.jpg 768w\" sizes=\"(max-width: 799px) 100vw, 799px\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.cbsnews.com\/video\/millennials-struggling-under-the-burden-of-student-loan-debt\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" class=\"aligncenter wp-image-67087 size-full\" src=\"http:\/\/danielschristian.com\/learning-ecosystems\/wp-content\/uploads\/2019\/05\/StudentDebt-2-CBSNews-5-1-19.jpg\" alt=\"the cost of higher ed is out of control; average household with student loan debt = $47,671\" width=\"100%\" height=\"100%\" srcset=\"http:\/\/danielschristian.com\/learning-ecosystems\/wp-content\/uploads\/2019\/05\/StudentDebt-2-CBSNews-5-1-19.jpg 810w, http:\/\/danielschristian.com\/learning-ecosystems\/wp-content\/uploads\/2019\/05\/StudentDebt-2-CBSNews-5-1-19-150x108.jpg 150w, http:\/\/danielschristian.com\/learning-ecosystems\/wp-content\/uploads\/2019\/05\/StudentDebt-2-CBSNews-5-1-19-768x552.jpg 768w\" sizes=\"(max-width: 810px) 100vw, 810px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #800000;\"><em>From DSC <strong>to potential college students:<\/strong><\/em><br \/>\n<\/span><strong><span style=\"color: #800000;\"><span style=\"color: #ff6600;\">You need to know that the ramifications of this type of debt can last for <em>decades<\/em>!<\/span> <span style=\"color: #ff6600;\">Do everything you possibly can to either not borrow anything or to minimize these types of loan amounts.<\/span><\/span><\/strong><\/p>\n<p><span style=\"color: #800000;\">This is another reason why the United States desperately needs a<\/span> <a href=\"http:\/\/danielschristian.com\/thelivingclassroom\/index.htm\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>***next generation learning platform***<\/strong> <\/a><span style=\"color: #800000;\">&#8212; one that&#8217;s convenient, <em>very inexpensive<\/em>, and one that can also help people quickly reinvent themselves! One that is highly social, features human Subject Matter Experts (SME&#8217;s), and is backed up by #AI &#8211; based apps\/features as well.<\/span><\/p>\n<p><span style=\"color: #800000;\">Along these lines&#8230;no longer are we running sprints (i.e., get a 4-year degree and you&#8217;re done). We&#8217;re now all running marathons (i.e., we&#8217;re now into lifelong learning in order to stay relevant and employed).<\/span><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><em><span style=\"color: #800000;\">Also, the following item was announced today:<\/span><\/em><\/p>\n<ul>\n<li><a href=\"https:\/\/www.businesswire.com\/news\/home\/20190501005509\/en\/Cengage-McGraw-Hill-Merge-Providing-Students-Affordable-Access\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Cengage and McGraw-Hill to Merge, Providing Students with More Affordable Access to Superior Course Materials and Platforms<\/strong><\/a> &#8212; from businesswire.com<br \/>\n<em>Excerpt:<br \/>\n<\/em>NEW YORK &amp; BOSTON&#8211;(BUSINESS WIRE)&#8211;McGraw-Hill and Cengage today <a href=\"https:\/\/betterlearningtogether.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">announced<\/a> that they have entered into a definitive agreement to combine in an all-stock merger on equal terms. The transaction, which has been unanimously approved by the Boards of Directors of both companies, will bring together two premier learning companies that will deliver significant benefits for students, educators, professionals and institutions worldwide.\u201cThe new company will offer a broad range of best-in-class content \u2013 delivered through digital platforms at an affordable price,\u201d said Michael E. Hansen, CEO of Cengage. \u201cTogether, we will usher in an era in which all students can afford the quality learning materials needed to succeed \u2013 regardless of their socioeconomic status or the institution they attend. Additionally, the combined company will have robust financial strength to invest in next-generation products, technology and services that create superior experiences and value for millions of students.\u201d<\/li>\n<\/ul>\n<p><span style=\"color: #800000;\"><em>Also see:<\/em><\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/viavid.webcasts.com\/viewer\/event.jsp?ei=1243642&amp;tp_key=e539e8414d\" target=\"_blank\" rel=\"noopener noreferrer\">This conference call about the merger<\/a><\/li>\n<li><a href=\"https:\/\/s22.q4cdn.com\/942918855\/files\/doc_financials\/quarterly-reports\/2019\/q1\/McGraw-Hill-Cengage-Merger-Investor-Presentation-5-1-2019-FINAL-AM.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">The slides from that conference call<\/a><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><em><span style=\"color: #800000;\">From DSC:<\/span><\/em><br \/>\n<span style=\"color: #800000;\">Along these lines, I don&#8217;t think Cengage\/McGraw-Hill will be the largest company on the Internet by 2030 <a href=\"https:\/\/www.businessinsider.com\/futurist-predicts-online-school-largest-online-company-2016-12\" target=\"_blank\" rel=\"noopener noreferrer\">as predicted by Thomas Frey<\/a> (a prediction I think he&#8217;s right on with&#8230;by the way). They were on watch when the prices of learning-related materials soared through the years. As such, they&#8217;ve likely burned through a great deal of good will&#8230;but we&#8217;ll see. They might be able to persuade myself and others that they&#8217;re the platform of choice for the future. Time will tell I guess.<\/span><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From DSC: Here&#8217;s a ~4 minute piece from CBS News re: student loan debt. Here are two excerpts from that video: &nbsp; From DSC to potential college students: You need to know that the ramifications of this type of debt can last for decades! Do everything you possibly can to either not borrow anything or [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[113,322,174,86,209,115,302,57,72,286,143,32,71,37,36,35,3,102,510,15,62,560,309,480,66,206,321,214,367],"tags":[],"class_list":["post-67083","post","type-post","status-publish","format-standard","hentry","category-21st-century","category-adjunct-faculty","category-career-development","category-change","category-changing-business-models","category-colleges","category-community-colleges","category-cost-of-getting-a-degree","category-daniel-s-christian","category-digital-learning","category-disruption","category-education-technology","category-faculty-staff","category-future","category-future-of-higher-education","category-game-changing-environment","category-higher-education","category-learning","category-learning-from-the-living-class-room","category-lifelong-learning","category-online-learning","category-parents-guardians","category-platforms","category-society","category-student-related","category-trends","category-united-states","category-universities","category-vendors"],"_links":{"self":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/67083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/comments?post=67083"}],"version-history":[{"count":10,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/67083\/revisions"}],"predecessor-version":[{"id":67091,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/67083\/revisions\/67091"}],"wp:attachment":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/media?parent=67083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/categories?post=67083"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/tags?post=67083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}