The nation’s largest urban school districts are warning that without federal aid, as many as 275,000 teachers could suffer layoffs. Universities like Harvard are freezing or cutting salaries. Digital education companies are stepping into the gap, capitalizing on the need for not just learning material, but teaching assistance for students amidst the coronavirus pandemic.
“We’re betting on the inevitable,” Dan Rosensweig, the CEO of online education company Chegg (CHGG), told Yahoo Finance. “What this means is schools are going to be able to offer less support. Students are going to be more on their own. And so what comes out of this on the other side is more people learning more things online and needing more online support.”
Chegg this week reported first-quarter revenue surged by 35%, as subscribers to its services rose to 2.9 million. Those services include online textbook and study Q&A for high school and college students.
The nation’s largest urban school districts are warning that without federal aid, as many as 275,000 teachers could suffer layoffs. Universities like Harvard are freezing or cutting salaries. Digital education companies are stepping into the gap, capitalizing on the need for not just learning material, but teaching assistance for students amidst the coronavirus pandemic.
“We’re betting on the inevitable,” Dan Rosensweig, the CEO of online education company Chegg (CHGG), told Yahoo Finance. “What this means is schools are going to be able to offer less support. Students are going to be more on their own. And so what comes out of this on the other side is more people learning more things online and needing more online support.”
Chegg this week reported first-quarter revenue surged by 35%, as subscribers to its services rose to 2.9 million. Those services include online textbook and study Q&A for high school and college students.