www.ibtimes.com Open in urlscan Pro
34.237.166.203  Public Scan

Form analysis
1 forms found in the DOM

POST

<form action="" method="post" id="search-block-form" accept-charset="UTF-8">
  <div>
    <div class="form-item form-type-textfield form-item-search-block-form"> <label class="element-invisible" for="edit-search-block-form--2">Search </label> <input title="Enter the terms you wish to search for." onfocus="" placeholder="Search"
        type="text" id="edit-search-block-form--2" name="search_block_form" value="" size="15" maxlength="128" class="form-text"></div>
    <div class="form-actions form-wrapper" id="edit-actions"><input type="submit" id="edit-submit" name="op" value="" class="form-submit"></div><input type="hidden" name="form_build_id" value="form-v3uUzKuJPR8OXs30XgmLnVbe_aDWJhIOj7e_HUiaelQ"><input
      type="hidden" name="form_id" value="search_block_form">
  </div>
</form>

Text Content

Google Tag Manager

Newsletter Signup
Jul 15, 11:10 AM EDT
 * Business
 * Technology
 * World
 * National
 * Politics
 * Media & Culture
 * Opinion
 * Sports
 * Luxury

U.S. Edition
Search

 * Business
 * Technology
 * World
 * National
 * Politics
 * Media & Culture
 * Opinion
 * Sports
 * Luxury

Listings & More
 * Social Capital
 * Glossary
 * SMB Forum
 * Spotlight
 * Top AI Startups & Scaleups 2021
 * Fintech Startups 2021
 * MBA Rankings 2021

Editions
 * Australia Edition
 * India Edition
 * International Edition
 * Singapore Edition
 * United Kingdom
 * United States

 * Newsletter

Follow Us

Editions
 * Australia Edition
 * India Edition
 * International Edition
 * Singapore Edition
 * United Kingdom
 * United States


Business


A COLLEGE DEGREE IS THE LARGEST UNINSURED INVESTMENT YOU’LL MAKE; WADE EYERLY
WANTS TO CHANGE THAT

By IBT Contributor
05/02/22 AT 10:37 AM

NOTE: This article is a contribution and do not necessarily represent the views
of IBTimes.
Students and pedestrians walk through the Yard at Harvard University in
Cambridge, Massachusetts, U.S., March 10, 2020. Photo: Reuters / Brian Snyder

The COVID pandemic has triggered a historic increase in college dropouts as
students continue to lose faith in the higher education system. Wade Eyerly, the
founder of Degree Insurance calls a college degree “ the largest uninsured
investment you will ever make. ”

Watching students lose faith in the American Dream and the promise of a brighter
future urged Wade Eyerly to create an insurance product that guarantees the
income of graduates 5 years after graduating from college. By providing students
a safety net, a university opens the doors for students of all backgrounds to
study without worry whether their degree will have been worth it upon
graduation.

Numbers like $1.7 trillion in student debt and the 40% of students who start
college failing to finish are driving the narrative that college doesn’t work.
Not everyone needs to go to college, but once you do you absolutely need to
finish. The majority of people who default on their student loans borrowed less
than $10,000 but failed to graduate.  These are students, and families, that are
materially harmed - they’re actually made poorer by having attended college.
They qualified for the debt, but didn’t see any return on investment. Getting
students into college is one thing, but helping them graduate is more important.

Degree Insurance provides a safety net to graduates, letting them start their
lives in a confident position, knowing that they can pay down loans, attend
graduate school, or learn a trade in the unlikely event that a college degree
doesn’t work for them.



The issue is particularly affecting communities of color, with unemployment
rates reaching 15% for Native Americans and Alaska Natives, 13% for Latino
Americans, and 17% for African Americans since the last recession. Across the
board, however, the unemployment rate of college students only peaked at 5%.  As
much as a college degree is about increasing your earnings potential, a pivotal
but under-discussed role is that it raises the floor of outcomes for a graduate.

Eyerly believes that this product is better at giving students transparency as
to what the outcome of their decisions is going to be. The choice of college
major is much more impactful than where one studies.  Yet parents will spend 18
months helping their child apply to “the best schools,” but often expend little
effort helping them into “the best majors.” By understanding the impact of your
choices on future earnings, we can unlock the freedom for graduates to be more
salary seeking, but it also enables students to say, “while I might earn less, I
can still support my family, and I’ll be happier” in a more passion-driven
route. Degree Insurance works to ensure that achieving a degree is worth it for
the regular college graduate. 

Eyerly also believes that “If the university has terrible outcomes then that
will show up in the price of the premium.” So, this product also acts as a way
to hold universities accountable and ensure they do their part in producing
better-equipped graduates to enter the job market. 

Ultimately, a college degree is essential to securing a job, with college
graduates having 57% more job opportunities than non-graduates. In fact, a
college degree is the single largest buffer against an economic recession. So
ensuring it creates a safety net that raises the floor of outcomes for what you
can earn. 

The upside to not having a degree is limitless, yet the downside is real pain,
destitution and financial degradation. A degree prevents a student (and their
family) from experiencing the depth of that pain.   The aim of Degree Insurance
is to prevent more students and their families from ending up poorer than they
were before they enrolled in university. “ The greatest untapped resource in
America is untapped human capital” – and we can tap into it by giving students
graduate the confidence necessary to enroll and persist through to graduation. 

Eyerly also believes that this insurance product will also play a role in
reducing outcomes  inequity by guaranteeing students of all ethnicities, and
family backgrounds the same guarantee.  Any two individuals that graduate from
the same institution with the same major will have the same coverage. Raising
the floor of outcomes will disproportionately benefit those taking on outsized
risk in attending college, often first generation Americans, first generation
students, underrepresented minorities  and the eligible poor.



However, he takes a particular interest in HBCUs because they offer a unique
college experience to other colleges. They actively produce more minority
graduates and place them in equal roles as their white counterparts. Research
shows that HBCUs graduate 40% of all black members of Congress and black
engineers, as well as 50% of black lawyers and 80% of black judges. Yet, in the
6 years following the Great Recession, enrolment at HBCUs fell by 11%, meaning
that more low-income minority families were already at financial risk. 

A survey also shows that 55% of black graduates from HBCUs strongly agreed that
their university prepared them well for life after university, with 40% saying
that they were doing well financially. While Congress spent more than $10
billion supporting higher education in the wake of the pandemic, Wade estimates
that for just $100 million, “we could put a whole generation of African
Americans students into the middle class and keep them there.” 

In doing so, Degree Insurance addresses the issue of unemployment in America in
a way that does not disproportionately affect minority communities. This
insurance increases college enrollment, improves graduation rates, and supports
vulnerable communities with guaranteed futures. 

Incentivising college graduation can benefit a generation of students, too many
of whom have lost faith in the higher education system. Wade wants to help them
realize their futures, by being there to pick them up when they fall.

Degree Insurance provides certainty in an uncertain time. 

Contact information
Company: Degree Insurance
Contact email: wade@degreeinsurance.co

Meet IBT News from below channels

Promoted Content

Lila Hände der Königin wecken weitere gesundheitliche Bedenken
Brainberries
Diese Ehefrauen stellen die Ehemänner in den Schatten
Brainberries
6 reiche Berühmtheiten, die sparsam leben
Brainberries
US To Resume International Space Station Flights With Russia

Valentina Pahde verriet ihren sozialen Status
Brainberries
Conjoined Twins Abby And Brittany Expecting Exciting News
Traitslab
9 echte Menschen verwandelt in menschliche Puppen
Brainberries
Vermeiden Sie es, sich in diese Sternzeichen zu verlieben
Brainberries
Analysis-Clients Of Crypto Lender Celsius Face Long Wait Over Fate Of Thei…

Diese Hochzeitsfotos kann niemand wiederholen
Brainberries
Das hält das neue Jahr für jedes Sternzeichen bereit
Brainberries
Wie sich Daenerys über alle Staffeln hinweg verändert hat
Brainberries
Die schrecklichsten Frauenfrisuren, die Männer hassen
Brainberries
3 Regeln beim Seriengucken
Brainberries
Umgang mit Hunde-Eifersucht: ein funktionierender Stunt
Brainberries

Join the Discussion


 * Most Read

 * 1
   
   Oil Prices Tumble More Than $4 Ahead Of Potential Large U.S. Rate Hike
 * 2
   
   War In Ukraine: Latest Developments
 * 3
   
   Ivana Trump Net Worth Before Her Death; Divorce Settlement With Donald
   Revealed
 * 4
   
   Bank Of America Fined $225 Mn For 'Botching' US Covid-19 Aid Payments
 * 5
   
   Here's Bitcoin's Only Path To $300,000




GET UP TO SPEED WITH IBT’S FAST START


STAY UP TO DATE WITH OUR DAILY NEWSLETTER

Sign Up Now
Latest News
A Divisive Bestseller: Copies Of Chile's New Constitution Hit The Streets
Top Court Warns Hong Kong Against Risk Of Prosecuting 'Thought Crimes'
Invasion Bridge? China Is Pursuing Plan To Build Highway, Rail Link To Taiwan By
2035
World Bank Chafes At Lower Capital Requirements Recommended In G20 Report -
Sources
EU, Southeast Asia To Hold First Full Summit Amid Security Fears

Social Capital
Trail Blazing CEOs
Redefining Business Success
Davis Smith
Cotopaxi


THIS CEO IS LEADING THE CHARGE TO END POVERTY

Davis Smith
Cotopaxi


CAN CORPORATIONS END WORLD POVERTY?


AMERICA'S MOST AUTHENTIC CEOS DISCUSS HOW TO BE REAL





News
 * Business
 * Technology
 * World
 * National
 * Politics
 * Media & Culture
 * Opinion
 * Sports
 * Luxury

Featured
 * Social Capital
 * Lexicon
 * Spotlight
 * EMBA Rankings
 * Fintech Startups
 * Top AI Startups & Scaleups
 * IBT Shop
 * Coupons

About


IBT

 * About Us
 * Advertise with Us
 * Media Kit
 * Terms & Conditions
 * Privacy Policy
 * Cookie Policy

Editions


EDITIONS

 * Australia
 * India
 * International
 * Singapore
 * United Kingdom
 * United States

Follow Us
 * Facebook
 * Twitter
 * LinkedIn
 * Telegram

© Copyright 2022 IBTimes LLC. All Rights Reserved.