Minerva Schools at KGI, the ambitious (and still heavily theoretical) project that aims to educate some of the world's best students online but in residential settings, said this week that it would give its first group of undergraduates four years of free tuition when they enroll next fall, but ultimately charge $10,000 in annual tuition and under $30,000 in total costs. The project, which is seeking accreditation through Keck Graduate Institute, part of the Claremont University Consortium, aims to enroll students who could qualify for Ivy League and other highly competitive universities but would opt for an experimental alternative. The project has been the subject of both significant interest (and support from powerful friends, such as Bob Kerrey and Lawrence Summers) and a good bit of skepticism.
Minerva's founder, Ben Nelson, said in the news release that it would ultimately charge $10,000 a year in tuition and $18,850 in room and board, and that it would offer scholarships and low-interest loans.
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