Rize Education platform helps 140 colleges share classes to reduce costs
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Adrian College President Jeffrey Docking explained to Fox News Digital on Wednesday how a growing number of universities are lowering the cost of higher education.
“It’s too expensive, students are taking on too much debt. Even upper-middle-class families are saying we don’t know if we can do this anymore. And things are getting really bad at a lot of different schools right now,” Docking said.
How does Rize Education reduce costs?
The for-profit company Rize Education acts as an intermediary in a course-sharing platform that allows colleges to work together to offer online courses.
Docking argued that it would rise further education costs come from inefficiency and the lack of institutions working together to reduce costs in the private sector like other industries. He came up with the idea of course sharing to avoid the cost of hiring faculty by allowing universities to share professors.
Adrian College President Jeffrey Docking is credited with doubling enrollment at Adrian College since he started working there. He is also credited with tripling the university’s endowment. (Adrian College)
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“If you teach German at Adrian College and there are 10 other colleges and universities within a hundred-mile radius and they all have a German professor, you have too many German professors relative to the number of students studying German,” he explained.
“So why not have a German professor or two to share with other schools and keep the cost down? This allows you to start new majors. We launched 38 new academic programs and added one professor.”
Docking founded the company in 2019 with two Harvard graduates, Kevin Harrington and Connor McCarthy; after convincing them to move from New York City to Adrian, Michigan, a small town about an hour’s drive from Detroit. Harrington and McCarthy worked as Docking’s assistants at Adrian to learn about the business behind the higher education sector.
Harrington and McCarthy, Rize’s CEO and co-founder, grew the company to 65 employees. While there were 7 colleges using Rize five years ago, nearly 140 colleges are currently using it and this number is expected to increase.
“Five years ago we had about 40 kids taking classes through this joint arrangement with other colleges. This year it will be well over 10,000,” Docking said.
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More than 1,500 students at Adrian College share courses with other colleges, according to Docking. Students would take classes in person the traditional way, then take classes at another college with 501(c)(3) accreditation.
“I had a presence all over the United States wanting to get involved in this issue, and I realized, oh, there’s something here,” Docking told Fox News Digital.
Since partnering with Rize, Adrian College has launched 27 majors, 13 minors and eight certificates in business, technology, engineering and healthcare. (Photo credit: Adrian College)
Harrington told Fox News Digital that 130 schools have added more than 700 new academic programs and career paths for “1/10 of the cost”; This means that costs for students can be reduced as these colleges expand and improve their offerings to students.
It caught the attention of Congress
Because the platform was so successful, Docking was invited to testify before the House Committee on Education and the Workforce at a hearing titled “The Future of the College: Leveraging Innovation to Improve Outcomes and Lower Costs” on November 18 at the Rayburn House Office Building in Washington, D.C.
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Placement was among four witnesses discussing innovative approaches they said would reduce student debt and improve employment outcomes for college students.
“I think the reason I was invited to the committee was because we did something about it, rather than just accepting it. We also said we need to take decisive action and make some big changes to reduce the cost of education,” Docking told Fox News Digital.
College tuition has increased tremendously over the years, forcing students into debt. According to New York Federal Reserve data, student loan balances stood at $1.6 trillion in the fourth quarter of 2023. (Reuters)
College tuition has increased tremendously over the years, forcing students into debt. in the fourth quarter According to the data of the New York Federal Reserve, the student loan balance in 2023 was at the level of 1.6 trillion dollars.
College costs have become a growing problem in the United States, prompting many people to find solutions.
Small town college grows fast
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Docking is the co-author of a book titled “Crisis in Higher Education: A Plan to Save America’s Small Liberal Arts Colleges” and is credited with supporting the school’s athletic programs and doubling enrollment at Adrian College since he began working there in 2005. Now, the institution offers more majors.
Since partnering with Rize, Adrian College has launched 27 majors, 13 minors and 8 certificates in business, technology, engineering and healthcare.
“The negative effects of a democracy like ours are quite profound in the long run. We need an educated population… We will all pay a price when we start reducing it because it is too expensive.”
