how the pricing works
REGULATION OF PRICING
The pricing of our programs is controlled by our accreditation agency. The Open Latch Education Foundation (OLEF) uses a locked coefficient (.422656) to raise or lower our prices every year that is a multiple of 5. On such years, OLEF multiples the coefficient by the April index on the All Items, Unadjusted Index cell in the Consumer Price Index for All Urban Consumers datasheet, from the U.S. Bureau of Labor Statistics ( click here to see this information). The result is the new average price of a credit in the faculty-school system.
This adjustment is made to account for inflation or deflation in our dual attempt to provide proper real-wage pay to our faculty and fair pricing to our students. The latest calibration we made to match this index was in April 2015. The index was 236.599. The calculation was as follows:
For online and land credits, .422656 X 236.599 = 99.99998, or $100.00 per credit.
This price indicates the average price for a credit, so if our diploma requires 140 credits, we cannot charge more than $14,000 total for the total tuition. Our current price is $13,000. No program can offer any degree at any level for more than $15,000, total.
The next time we are due for a pricing change is 2025, as we have decided to keep the current pricing through the 2020 year, which is when the credit price will be re-figured.
According to OLEF accreditation rules, our faculty must receive at least 80% of all tuition. This amount can be split up among faculty who co-teach a class or unit.
For some of our classes, practicums, and units, our faculty actually receives 100% of the tuition.