ChooseFI Episode Show Notes

Episode Title: Disrupting Traditional Education with Jerry Born

Episode Summary:

In this episode, Jerry Born shares how he managed to complete two years of college in just 59 days for less than $30 by leveraging online courses and testing strategies. He discusses innovative educational options like Sophia Learning and CLEP tests, which present opportunities to significantly reduce education costs while paving an efficient path to degrees with minimal debt.

Key Topics Discussed:

• Introduction to Jerry Born 00:03:48

  • Jerry, known as the Millionaire Educator, revisits the show to share his insights on affordable college education.

• How Jerry Completed College Quickly 00:05:01

  • He shares how Sophia Learning allowed him to earn extensive credits quickly and inexpensively during the COVID crisis.
  • Achieved two years of college education for just $30 through creative online courses.

• Discussion of Sophia Learning 00:12:28

  • Overview of Sophia Learning as a platform for affordable college credit courses; potential costs and benefits discussed.

• Exploring the CLEP Test 00:10:39

  • Explanation of CLEP tests, how they work, and their role in earning college credits based on previous knowledge.

Actionable Takeaways:

• Explore online college credit options like Sophia Learning and CLEP testing to save on educational costs.
• Strategize high school courses to include CLEP eligible classes for college credit banking.
• Understand admission policies of universities regarding transfer credits before beginning an education plan.

Key Insights:

• Innovative Education Models: The conversation emphasizes that education costs can be minimized by taking advantage of alternative learning methods.
• Proactive Strategies: Parents and students should be proactive in exploring educational resources that allow for credit accumulation ahead of traditional college timelines.
• Financial Independence Through Education: The episode aligns educational strategies with the overarching goal of achieving financial independence.

Key Quotes:

• “I secured a massive amount of courses—everything documented on just one and a half pages!” 00:06:41
• “Imagine banking two years of college while still in high school—it's achievable!” 00:24:50
• “For under $8,000, you could secure 82 credit hours—talk about a deal!” 00:18:12
• “We're witnessing a monumental disruption in the higher education landscape.” 00:03:38

Related Resources:

• Sophia Learning 00:05:31
• Modern States for CLEP 00:14:41

Discussion Questions:

• What are the benefits of alternative college credit options like CLEP tests?
• How can students and parents strategize for college savings effectively?

Action Items:

• Research alternative college credit options to start saving on education.
• Discuss with a high school counselor about CLEP and dual enrollment opportunities.

Speaker Highlights:

• Brad Barrett: Co-host of ChooseFI, expert in personal finance and advocate for financial independence.
• Jerry Born: Known as the Millionaire Educator; successfully navigated alternative credit options for himself and his family.

Podcast Description:

Explore strategies for reducing college costs as Jerry Born reveals how he completed two years of college in under 60 days for under $30. Learn effective tactics for financial independence through alternative credit options that can simplify the college process.

Podcast Extro:

"You've been listening to ChooseFI Podcast, where we help middle-class America build wealth one life hack at a time."

Rethinking Higher Education: Saving on College Costs

In a rapidly evolving educational landscape, students and parents must seek innovative strategies to reduce the financial burden of higher education. This article summarizes actionable insights from Jerry Born, known as the Millionaire Educator, who successfully navigated an unconventional path to earning a college degree at an astonishingly low cost.

The Cost of Higher Education Today

As tuition fees continue to rise, the concept of spending $60,000 a year on college is increasingly deemed implausible. Understanding alternative pathways to college can significantly mitigate costs and promote financial independence.

Capitalizing on Alternative Credit Options

The traditional route to earning a college degree is not the only way. By leveraging platforms like Sophia Learning and utilizing CLEP tests, students can save thousands while earning valuable college credits. Here’s how you can adopt these strategies:

Explore Online College Credit Options

• Sophia Learning: This platform offers a variety of online courses that provide college credit at a minimal cost. For instance, during a promotional period, Jerry completed an entire year of college courses in just a few months for less than $30.
• CLEP Tests: The College-Level Examination Program allows students to earn college credit by demonstrating knowledge in specific areas. By integrating CLEP testing into high school curricula, students can bank college credits while still completing their high school requirements.

Build a Strategic Educational Plan

1. Integrate CLEP Prep with High School Courses: Identify courses in high school that align with CLEP exams. For example, if a student is taking World History, they can simultaneously prepare for the CLEP test in that subject.
2. Utilize Dual Enrollment Programs: Many high schools offer dual enrollment options that allow students to earn college credit while still in high school.

The Power of Proactive Learning

A critical takeaway from Jerry's experience is the importance of proactive learning and resourcefulness. Students should not merely wait for opportunities but actively seek out pathways that can lead to significant savings and debt avoidance.

Key Strategies for Students and Parents:

• Prioritize College Readiness: Encourage students to take courses focused on study skills and time management to prepare them for the rigors of college-level coursework.
• Engage with Guidance Counselors: Discuss options like CLEP testing and dual enrollment with school counselors to ensure students craft an effective educational pathway.

Diversifying Credit-Earning Strategies

In addition to Sophia and CLEP, there are numerous educational platforms students can explore:

• Modern States: This organization provides online courses that prepare students for CLEP tests and offers reimbursement for test fees.
• Study.com: For a subscription fee, students can access a range of college-level courses that can contribute to their degree.

Consider Your Ultimate Educational Destination

Before embarking on this alternative education journey, it’s crucial to research which colleges accept these credits. Many institutions have articulation agreements recognizing credits earned through platforms like Sophia.

• Guaranteed Transfer Partners: Schools such as Excelsior College accept up to a significant number of credits from online courses and CLEP, making them attractive options for students looking to maximize their savings.

Reducing Overall Education Costs

As demonstrated by Jerry, minimizing college costs requires careful planning and digging into the educational ecosystem. By leveraging online resources, strategic testing, and a thorough understanding of transfer policies, anyone can manage to complete an entire degree for a fraction of the expected cost.

• Consideration of College Course Requirements: Many entry-level college courses are similar to high school curriculums. Students can often test out of these classes, allowing them to focus on advanced courses or electives later in their education.

Final Thoughts

Understanding alternative credit opportunities and implementing a proactive educational strategy can pave the way for significant savings on college education. With a determined mindset and a clear plan, students can achieve their educational goals without falling into the trap of crippling student debt.

By sharing these insights and strategies, you empower others to rethink their approach to higher education, guiding them towards a financially independent future. Always remember: education does not have to cost a fortune.