Sam Altman has joined other Silicon Valley heavy-weights to invest in a for-profit community college.

CampusGroup raised $46 million in a deal led by venture capital firm General Catalyst that included investors such as Altman and Founders Fund, Bloomberg reported. The company has reportedly raised a total of $101 million.

The Campus community college offers two-year degrees and certifications, and currently has about 1,200 enrolled students.

“I think we have to figure out how to bring world-class education to people without having them go into debt,” CampusGroup founder and chief executive Tade Oyerinde told Bloomberg.

Students can transfer and earn a bachelor’s degree at a four-year college after finishing at Campus. The college is accredited by an institution that is recognized by the U.S. Department of Education (the Accrediting Commission for Community and Junior Colleges), according to the company’s website. Tuition for online programs is $7,200 per year, and students are eligible for federal financial aid such as the Pell Grant.

As of 2023, public community college costs around $3,860 per year in the U.S. before financial aid, according to the non-profit College Board.

Associates degrees at Campus include business administration and paralegal studies, and students can get certificates in areas such as medical assisting and phlebotomy. According to Campus, the graduation rate for full-time, first-time students is 68%.

The company says it covers tech such as laptops and wireless hotspot devices for students, and matches everyone with a “personal success coach” for advising. Professors include those who teach at universities such as Stanford University and Howard University.

Oyerinde told Bloomberg that the new funding will go toward growing the company and hiring more professors.

“We believe that the combination of the internet, software, and traditional higher education represents an unprecedented opportunity to dramatically increase access to high-quality education,” Oyerinde said in a statement.

Before Campus, Oyerinde founded Campuswire, which develops online learning software such as chatrooms for professors and students.

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