2016-01-16
The High Costs of Undergrad Tuition
The status quo in higher education cannot hold. Year after year, families face the grueling process of trying to send their kids to schools they can’t afford, turning what should be a joyful time into a stress-fueled anxiety spiral. As soon as those coveted acceptance letters come in, the question changes from “Where am I going to go to school?” to “How the hell are we going to afford this?” As attorney Steve Cohen wrote for TIME earlier this year, financial aid options remain slim for middle-class families. They’re oftentimes expected to contribute up to $20,000 a year to their kids’ college tuition, which in a lackluster economy is an all-but-impossible feat. Tuition costs have risen more than 1200 percent since 1978, a staggering increase that places more and more strain on prospective students and their families. The high costs of undergraduate tuition, let alone graduate programs, have long forced students to saddle themselves with loan debt they can’t repay. In fact, undergraduate debt may have influenced a recent decline in graduate enrollment numbers. Public schools with strained budgets can’t offer as much as they once might have in tuition assistance, making grad programs a harder sell for qualified students. At some point, the bottom has to fall out. A Forbes contributor called higher ed “ground zero for disruption” last year, but what exactly would that look like? Many jobs call for a minimum of a bachelor’s degree, meaning that people risk being shut out of opportunities if they opt not to go to school. And as Jason Saltzman wrote for Entrepreneur, the networks you build in college, whether through Greek life, classes, or other activities, can help you build a successful career. Still, the Internet enables people from a variety of backgrounds to study virtually any subject, create a portfolio of work, and demonstrate their skills without ever enrolling in an undergraduate program. Sites such as edx.org offer courses from elite schools such as Harvard and MIT, and platforms like Udemy and Lynda sell trainings and tutorials on an incredible array of topics. A rise in entrepreneurial culture could also spur a shift away from traditional schooling, as would-be founders seek apprenticeships and use online tools to access business trainings. Initiatives such as BMW’s Scholars Program allows people to work and attend classes, where they develop skills that they can use in their work at the company’s South Carolina manufacturing plant. Billionaire entrepreneur Peter Thiel established a fellowship to entice students away from college and into the startup world, many of whom have seen massive success through the program. Paul Gu, co-founder of the alternative lending site Upstart, is one of the program’s notable graduates. While not every student has entrepreneurial aspirations, many may decide to skip college in favor of real-world work experience and zero debt. Another Forbes contributor noted that people who are uncertain about school can rise quickly from entry-level jobs straight out of high school and can make a decent living by studying in trade programs to be a plumber or electrician. The Internet has also created countless opportunities for selling products through sites like Etsy and Shopify, making money from affiliate marketing, and monetizing personal blogs and video channels. Think of the 17-year-old behind Origami Owl, the $250 million jewelry business. She’ll never have to worry about student loans, and it’s not impossible to replicate her success. Many bloggers and online owners publish courses and sell trainings in how to build businesses, market your consulting services, and create a profitable author following. People can achieve their dream jobs for a fraction of what it would cost them to attend a four-year school. While college is still a formative experience, there is an ever-growing number of ways to build a career and make a living that doesn’t require a degree. As tuition costs remain high and young generations’ disillusionment with debt increases, it’s not unlikely that people will seek alternatives to college and graduate programs.
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MoneyLion
MoneyLion Wins “Best Financial Literacy Tool” and “Best API” at Benzinga’s 2022 Global Fintech Awards
MoneyLion’s consumer and enterprise businesses were recognized as winners of Benzinga’s 2022 Global Fintech Awards at this year’s Fintech Deal Day
New York, December 14, 2022-- MoneyLion Inc. (“MoneyLion”) (NYSE: ML), the go-to destination for personalized financial content, products and advice, is proud to announce that it has been named “Best Financial Literacy Tool” at Benzinga’s 2022 Global Fintech Awards. MoneyLion’s enterprise business, Even Financial, was also named as the winner for “Best API.”
MoneyLion and Even Financial were honored alongside other top Fintechs, banks, research companies and more. MoneyLion’s consumer business continues to push financial literacy through innovative and personalized content. With the MoneyLion app, users can view personalized financial content in short-form video format and receive personalized financial product recommendations such as loans, insurance and investing. As MoneyLion’s enterprise offering, Even Financial digitally connects and matches consumers with real-time personalized product recommendations from banks, insurance carriers, and Fintech companies on mobile apps, websites and other digital touchpoints through its financial product search engine and Embedded Finance Marketplace technology. This technology powers both the MoneyLion Marketplace, in the MoneyLion app, as well as more than 1,000 enterprise partners.
“We’re thrilled MoneyLion’s consumer and enterprise businesses were recognized by Benzinga,” said Dee Choubey, Co-Founder and CEO of MoneyLion. “Both awards showcase MoneyLion’s every time you money approach to helping our customers. The financial literacy gap is a huge problem for millions of Americans and we remain committed to reducing its effects through engaging, informative content and key partnerships designed to bring an elevated educational experience to all.”
These awards follow the October announcement of MoneyLion University, where MoneyLion launched its latest initiative aimed at closing the gap in money and financial education across the United States.
“We could not be more pleased with Benzinga’s recognition of our company’s API technology,” stated Phill Rosen, CEO and Founder of Even Financial. “Our technology natively integrates real-time credit decisions and product recommendations from the industry’s largest network of connected financial services providers, offering access and choice to consumers searching for financial products. Our elegant Embedded Finance Marketplace, API and search engine enable any company to add trusted, personalized financial products and services to their business, reaching people when and where they need it.”
Even Financial has been named a listmaker for the Benzinga Global Fintech Awards for the last two years and was a previous award winner. In 2021, Even was selected as a listmaker for Best API and, in 2020, selected as a listmaker for both Best API and Best API Platform. In 2019, Even was awarded the Benzinga Rocky Award.
The annual Benzinga Global Fintech Awards take pride in recognizing and honoring the companies and individuals who are propelling the Fintech and financial services industry forward with the most impressive technology advancements and innovations. A panel of industry experts from a wide range of companies reviewed and judged the nominations. Winners were announced at Benzinga’s Fintech Deal Day on December 8, 2022, where MoneyLion’s Chief Customer Officer Cynthia Kleinbaum spoke on the panel, Expert Growth Hacks For Reaching Underserved Markets.
About MoneyLion MoneyLion is the go-to destination for personalized financial content, products and advice. MoneyLion’s mission is to rewire the financial system to positively change the path of every hard-working American. MoneyLion uses its proprietary data advantage and technology to empower its customers. MoneyLion engages and educates its customers with daily, hyper-personalized money-related and money-adjacent content that is delivered through each customer’s own content feed. MoneyLion provides its customers a full suite of financial and non-financial solutions, bundling its proprietary, low-cost financial products with products that are offered through its marketplace technology and network affiliate partners. MoneyLion also leverages its distinct data, technology, and network advantages to deliver leading embedded finance and marketplace solutions for enterprise customers. Since its founding in 2013, MoneyLion has empowered millions of Americans to take control of their finances and live their best financial life, every day.
For more information about the company, visit https://www.moneylion.com/ and https://www.evenfinancial.com. For investor information and updates, visit investors.moneylion.com and follow @MoneyLionIR on Twitter.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221214006032/en/
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Even Financial [email protected]
Built In
Even Named A Built In “2023 Best Places to Work”
New York, Jan. 11, 2023 -- Even Financial ("Even"), an independent subsidiary of MoneyLion Inc. (NYSE: ML), and a leading embedded finance marketplace platform, is proud to announce that it was honored in Built In’s “2023 Best Places To Work” Awards. Specifically, Even earned a place on the Hybrid Best Places to Work in New York.
The Best Places to Work Awards, now in its fifth year, honors companies across numerous categories, sizes, remote-first employers as well as in person and hybrid working companies across the U.S.
Built In determines the winners of Best Places to Work based on an algorithm, using company data about compensation and benefits, and also weighs criteria like remote and flexible work opportunities, as well as other people-first cultural offerings.
This announcement follows Even’s recent win at the Benzinga Global Fintech Awards for “Best API.”
About Even Financial
Even is the industry-leading embedded financial marketplace and independent subsidiary of MoneyLion Inc. (“MoneyLion”) (NYSE: ML). MoneyLion is a leading digital financial services and lifestyle content platform serving both consumer and enterprise customers. As part of MoneyLion’s enterprise offering, Even digitally connects and matches consumers with real-time, personalized financial product recommendations from banks, insurance carriers, and fintech companies on mobile apps, websites, and other digital touchpoints through its marketplace technology. Even's infrastructure leverages machine learning and advanced data science to solve a significant pain point in financial services customer acquisition, seamlessly bridging financial services providers (such as SoFi) and channel partners (such as TransUnion) via its industry-leading API and embedded finance marketplaces. Even enables any company to add financial products to its business, with full compliance and security at scale. Even was named one of "America's Best Startup Employers'' by Forbes for 2022 and was named to the 2021 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world. Learn more at www.evenfinancial.com and investors.moneylion.com.