Billionaire Funds Free College for Millions

Steve Klinsky, a titan in private equity with 25 years at New Mountain Capital, is championing a revolutionary approach to higher education through his Modern States Education Alliance. The organization has quietly reached 800,000 individuals, distributing the equivalent of 25,000 free years of college credit without any advertising spend.

This initiative addresses the immense $1.7 trillion student debt burden in the United States. Modern States revitalizes the CLEP (College-Level Examination Program) exams, a long-standing College Board program. The platform provides free comprehensive online courses, study materials, and even covers the $100 CLEP exam fee for students who pass.

Klinsky's philanthropic drive is rooted in personal experience, inspired by his late brother's tutoring and his own early efforts in establishing after-school centers. His approach challenges the systemic issues in education, focusing on providing ambitious but financially constrained students with a viable pathway to college credit and significant savings.

Modern States exemplifies Klinsky's philosophy of improving systems, a principle he has applied throughout his career in private equity. By focusing on non-cyclical industries and business improvement, New Mountain Capital has achieved remarkable success. This free college initiative is seen as a natural extension of his core ethos: identifying and resolving inefficiencies to build something better.