Businesswire | April 27, 2023
Summer, the certified B Corp committed to addressing the national student debt crisis, announced that it has raised $6M in new capital, with $18M raised in funding to date. General Catalyst, QED Investors, Flourish Ventures, Greycroft, Story Ventures, Gaingels, Calm VC, Partnership Fund for NYC, Fenway Summer, BDMI, and Avidbank participated in the financing.
The company also announced it has surpassed $1 billion in total projected savings for borrowers, and it has hired Leigh Gross as Chief Revenue Officer to lead partnerships with recordkeepers and other financial institutions interested in Summer Secure, the company’s automated solution for SECURE 2.0 retirement matching.
Student loan debt in the United States now stands at $1.75 trillion, according to the Federal Reserve, exceeding credit card and auto debt. It is often the first meaningful debt that young people incur, and can lead to a domino effect on their financial life–making it harder to save for retirement or buy a home years after graduating. Summer works with leading financial institutions, employers, and unions to provide a high impact, comprehensive digital solution that helps individuals plan for college costs, reduce the burden of student loan debt, and optimize retirement savings. To date, the company has delivered more than $1 billion in total projected savings for borrowers across the United States, offering assistance on every leg of the personal finance journey.
“We’re thrilled to announce this new funding, especially at a time when the need for better college planning and student loan solutions has never been more acute,” said CEO and co-founder Will Sealy. “As student loan forgiveness hangs in the balance and payments are set to resume for the first time in years, we’re excited to share our solution with more people to enable them to unlock financial freedom.”
Summer’s funding comes at an exciting time for the business as it continues to expand partnerships with retirement recordkeepers and payroll providers on the heels of its partnership with Fidelity Investments in 2022. Due to the recent passage of the SECURE 2.0 Act, many institutions are turning to Summer to support their employer clients with student loan retirement matching, leveraging Summer’s digital API suite and its expertise with operationalizing complex student loan policies into high-adoption solutions.
In a recent survey, 91% of employees with student debt said they would save more money for retirement if their employer offered a student loan repayment program. By ensuring that an employee’s student loan payments count toward the retirement match provided by their employer, Summer’s workplace solution can relieve student loan borrowers from having to make an impossible decision between paying down their debt or saving for retirement.
Summer was founded in 2017 by Sealy, a former Policy Analyst and Assistant to Sen. Elizabeth Warren and a veteran of the Consumer Financial Protection Bureau, Chief Product Officer Paul Joo, with previous experience at the U.S. Attorney’s Office and the Boston Consulting Group, and Chief Product Officer Vincent Tran, who previously led product at Pave and Orchard and was an investor at the Partnership Fund for NYC.
Summer’s recent partnership milestones include a student loan benefit launched with Intuit’s personal finance subsidiary, Credit Karma, and an expanded partnership with the American Federation of Teachers to support their 1.7 million teachers, government employees, and healthcare workers. Summer will use the new funding to expand the platform to help even more borrowers with a holistic approach to financial well-being.
Summer partners with financial institutions and employers to empower their populations to reduce education costs and student debt through proven technologies, policy expertise and human support. Founded in 2017 by industry experts, Summer’s mission is to alleviate student loan debt for 46 million borrowers by providing leading solutions for college cost planning, automated enrollment for loan assistance plans, tuition assistance, student loan contributions and retirement matching, and emergency savings. Summer is a certified B Corporation.
ENTREPRENEURS AND LEADERS
Globenewswire | May 17, 2023
ChildCare Education Institute® (CCEI), one of the largest online training providers dedicated exclusively to the early care and education workforce, is pleased to introduce its newest course, PROF110: Family-Teacher Conferences.
Family-teacher conferences are essential for maintaining an effective educational program. Research has shown time and time again that family involvement is one of the critical factors in a child’s school success. For many families, the family-teacher conference is a valuable time to connect with the teacher and classroom, other than brief interactions during drop-off and pick-up.
Family-teacher conferences provide an opportunity for families to share their expectations and better understand the teacher′s practices and goals. For the teacher understanding the family′s expectations and the child′s home culture makes it easier for the teacher to adjust the curriculum to make it more culturally relevant for the child. In the end, families and teachers must be flexible and keep the child′s best interests in mind. Often, teachers can improve the effectiveness of their program for everyone by incorporating aspects of the home culture of different children into the curriculum.
“Families and teachers can learn a lot by sharing and comparing their viewpoints,” says Leslie Coleman, Education Director for CCEI. “Ultimately, this exchange benefits the child, as teachers and families gain valuable information and can adjust child-rearing and teaching styles to help meet the child′s specific needs.” Well-managed family-teacher conferences strengthen essential partnerships between teachers and families that ultimately benefit our youngest learners. In this course, participants will learn the primary goals of family-teacher conferences along with strategies associated with planning for, conducting, and following up after conferences. In addition, the course will cover recommended practices for sharing assessment results with families, including when and how to make referrals to early intervention agencies.
PROF110: Family-Teacher Conferences is a two-hour, beginner-level course and grants 0.2 IACET CEU upon successful completion. Current CCEI users with active, unlimited annual subscriptions can register for professional development courses at no additional cost when logged in to their CCEI account. Users without subscriptions can purchase child care training courses as block hours through CCEI online enrollment.
About ChildCare Education Institute, a StraighterLine Company
ChildCare Education Institute® provides high-quality, distance education certificates and child care training programs in an array of child care settings, including preschool centers, family child care, prekindergarten classrooms, nanny care, online daycare training and more. Over 200+ English and Spanish child care training courses are available online to meet licensing, recognition program, and Head Start Requirements. CCEI also has online certification programs that provide the coursework requirement for national credentials including the CDA, Director and Early Childhood Credentials. CCEI, a Council for Professional Recognition approved training partner, is accredited by the Distance Education Accrediting Commission (DEAC), is recognized by the Council for Higher Education Accreditation (CHEA) and as an IACET Accredited Provider, offers IACET CEUs for its learning events that comply with the ANSI/IACET Continuing Education and Training Standard.
PRnewswire | May 02, 2023
edX, a leading global online learning platform from 2U, Inc., today announced a new partnership with global data and AI leader Databricks to launch a Large Language Models (LLMs) Professional Certificate program, the first of its kind on edX.org. This program is designed to equip developers, data scientists, and engineers with the applied knowledge and skills needed to understand the foundational technology behind recent advancements in artificial intelligence, such as OpenAI's ChatGPT and Databricks' Dolly. Through dynamic lectures, demos, and hands-on labs taught by industry leaders and renowned researchers—such as Matei Zaharia, co-founder and chief technologist at Databricks and computer science professor at Stanford University—students will learn how to develop and productionize LLM applications.
Comprising two courses, LLMs: Application through Production and LLMs: Foundation Models from the Ground Up, this Professional Certificate program provides a comprehensive overview of the latest frameworks, techniques, and foundation models used in the field of LLMs. By the end of the program, learners will have built their own end-to-end LLM workflows that are ready for production. These courses add to edX's catalog of more than 4,200 online learning experiences developed in partnership with the world's top universities and corporations, from free courses to full degrees.
"With the recent advancements in generative AI, there is an urgency for organizations to leverage LLMs in their own products and applications. This has led to an increased demand for professionals with necessary knowledge and skills related to language models," said Patrick Wendell, co-founder and VP of engineering at Databricks. "Our LLM-focused program taught by leading experts on the edX platform is an important step in meeting that demand while broadening access to the critical skills that professionals need to thrive in a rapidly changing environment."
According to Esmi Burning Glass, the number of U.S. job postings requiring AI skills will increase nearly 300% between 2022 and 2024, and a survey by Gartner found that over 50% of corporate leaders see AI as a priority to help them stay ahead of competitors. The new LLM Professional Certificate program from Databricks on edX will enable professionals around the world to build and productionize innovative solutions to natural language processing problems and help elevate their careers.
"The demand for professionals skilled in machine learning and AI will continue to grow as automation technology continues to advance at breakneck speed," said Andrew Hermalyn, president of partnerships at 2U, the parent company of edX. "edX is thrilled to partner with Databricks to help address the current market gap by equipping more learners around the world with the necessary skills to succeed in this fast-growing field."
Professional Certificate programs on edX are designed to build and enhance critical professional skills needed to succeed in today's most in-demand fields. Learners who complete the Databricks LLM Professional Certificate program will earn a program certificate that showcases their knowledge and skills, which they can include on their resumes.
The program is open for enrollment now for courses set to begin in Summer 2023. The Databricks LLM Professional Certificate program is free to try for all learners. Like edX, Databricks is committed to expanding access to education, especially in the highly relevant, in-demand field of AI.
edX is the global online learning platform that exists to help learners everywhere unlock their potential. edX was founded by Harvard and MIT in 2012 to make the world's best education available to everyone. Today, as a 2U, Inc. company (Nasdaq: TWOU), edX connects 76 million people worldwide with the skills, knowledge, and support to achieve their goals. Together with the world's leading universities and companies, edX offers thousands of free and open courses, professional certificates, boot camps, credit-bearing micro credentials, and undergraduate and graduate degrees.
Databricks is the data and AI company. More than 9,000 organizations worldwide—including Comcast, Condé Nast, and over 50% of the Fortune 500—rely on the Databricks Lakehouse Platform to unify their data, analytics, and AI. Databricks is headquartered in San Francisco with offices around the globe. Founded by the original creators of Apache Spark™, Delta Lake, and MLflow, Databricks is on a mission to help data teams solve the world's toughest problems.