Anyone else feel a faint tremor in the Ivory Tower after reading about MissionU last month?
The new, one-year, professional school isn’t exactly a threat to the traditional college model. It offers only two hyper-focused training tracks: data analytics and business intelligence.
But MissionU is deploying a novel tuition strategy.
It doesn’t charge any.
MissionU students don’t pay a dime until after they graduate and get a job that pays at least $50,000 a year. Then they pay 15 percent of their pre-tax income each month for three years. At a minimum, that totals $22,500 in deferred payment per student to MissionU. But, the bigger their paychecks, the more alumni pay.
MissionU Founder Adam Braun doesn’t expect lengthy deferments or minimum salaries from his students. He’s struck partnerships with popular Millennial and Gen Z brands that need business intelligence and data analysis skills, including Spotify, Uber, Warby Parker, Bonobos and others, all of whom get first dibs on newly minted MissionU grads.
2,000 people applied for 50 spots in just 10 days.
Classes start this fall for MissionU. Its impact on higher ed remains to be seen, but innovators are out there…working hard to shake things up.