A San Francisco start-up aiming to offer an Ivy League-level education at half the cost of elite US colleges has accepted a smaller fraction of its applicants than Harvard or Yale in its third year of operation.
Minerva, whose students move between California, Berlin, Buenos Aires, Seoul, Bangalore, Istanbul and London while studying a largely online curriculum, will announce this week that it received more than 16,000 applications from 50 countries for 306 places, for an acceptance rate of just 1.9 per cent.
…With no sports teams, libraries or other overheads that contribute to the prestige of traditional universities but inflate costs, Minerva charges about $28,000 a year for tuition, room, board and other fees, offering scholarships through a non-profit arm. That compares to an estimated annual cost of $64,000 to attend Princeton.
…Its students are split into small groups for live interactive seminars, which are taught through a proprietary online platform that tracks their participation. They move together from one city to the next every six months, living in rented residence halls.
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