John Katzman
CEO
2tor
The founder of Princeton Review has been busy this past year with a new startup. His story is of special interest to online educators.
What first-generation characteristics of online learning should be left behind?
First, the notion of college has become diluted. Not every student is ready for college or grad school. Schools should admit students who are ready. Second, the first generation of online schools have too little interaction among students. They are not Web 2.0. They are in fact Web 0.8, many of them high-tech correspondence schools.
Which first-generation characeristics should be kept?
We've enabled students to mold their education around their lives. Anytime, anywhere is powerful. Half the cost of graduate school is foregone income. And this new convenience is valuable to student and employer alike.
What is the mission of 2tor?
We combine the business practices and access to capital of the for-profits with the smarts and brand and quality of the great research universities. Our first degree program is a partnership with the University of Southern California Rossier School of Education. Together we expect to place thousands of great teachers each year in high-need schools. We expect to announce our second partnership with a second university this fall.
How does your business plan differ from Embanet or Compass Knowledge?
We will create one great academic offering in each of several areas: education, law, business, nursing, engineering, etc. Each offering will be a premium program and an exclusive partnership. Each will be capable of serving many thousands of students anywhere in the world. Each is a true partnership in which the school executes with our expertise.
What personal factors in the consumer marketplace are you counting on for success?
Among students, an increasing involvement with online communities like Facebook. A decreased appetite for indebtedness. And a growing flight to quality.
What special cooperation was required and exhibited by the USC faculty and administration that makes you optimistic about succcess?
They've been incredibly flexible. The faculty re-thought the curriculum, taking advantage of research about what works in high-need schools today. They've enabled us to adapt the latest technology to the mission. We've been able to adapt their home-built infrastructure to the new mission as well. It's been terrific working with them.
List some benefits that will be enjoyed by the USC community at large when the 2tor venture is successful.
The online tools we're developing for Rossier are already available to the school's classroom students. Their alumni community will be more influential within their profession. We're helping Rossier to be extremely transparent about student and teacher success. And from year one, this program should produce a surplus to the university.
What's a surprising fact about U.S. college admissions?
It's easier to be admitted today to great undergraduate colleges and universities than it was thirty years ago.