BOISE, Idaho–CapEd Credit Union here has entered into a partnership with Boise State University to help its members and employees pay for their degrees and save money on tuition.
The Boise State Passport to Education will allow CapEd Credit Union members and employees to pay for online undergraduate educations via monthly subscription fees rather than traditional tuition payments, according to the Idaho Statesman.
CapEd employees and members would pay a fixed fee for online classes each month. They would choose between two subscription tiers: six credits a semester for $425 per month or nine credits a semester for $550 per month. The six-credit tier costs about 20% less than full tuition, and the nine-credit tier about 30% less, the Statesman reported.
Both options add up to part-time student status. To be enrolled full-time, students must register for at least 12 credits per semester. A typical course earns three credits.
“We’re taking tuition from the level of a house payment down to the level of a monthly car payment, for many people, and with online technology, we’re removing barriers to a degree regardless of a student’s life stage or location,” Gordon Jones, dean of Boise State’s College of Innovation and Design, said in a released statement.
While students must complete an entire four-month course to earn credit, the month-by-month payment makes it possible for students to leave if they need to without having to pay for the entire semester, the Statesman added.
‘Concentrated Pathways’
According to Boise State, enrollees can pursue bachelor's degrees that do not necessarily fall under traditional majors. Jones, whose college spearheaded the program, told the Statesman these "concentrated pathways" to degrees are tailored for working students seeking to boost or change careers.
The university said CapEd Credit Union is its inaugural partner, and that it hopes to partner with other organizations to form similar programs. Jones said Boise State is specifically looking to membership-based associations, as they may allow "greater access for a greater number of Idahoans."
CapEd has more than 76,000 members and about 210 Idaho employees. A member must be an employee or volunteer with any facet of the education industry or have a family or household member who either meets those qualifications or is already a member.
“We are honored and excited to be the inaugural private partner with Boise State University to provide higher education to our members and employees that is affordable and available regardless of their location or personal circumstances,” said Todd Erickson, CEO of CapEd, in a statement.