LOS ANGELES (CBS) — If you’re having trouble finding the funds to attend your first-choice university this fall, you may want to consider trading in your backpack for a laptop and going online for your freshman year.

As tuition and fees continue to soar on state campuses, a new online college is launching just as demand for higher education is soaring statewide.

Paul Freedman, co-founder of Ivy Bridge, told KNX 1070 it’s a way for students to get their first two years of college online and then transfer to a four-year school as a junior — but it will cost you about $330 per credit hour.

Still, Freedman said the price is worth it.

“The most costly thing about not having a college degree is not having that degree,” said Freedman. “The difference between what you can make in a job that hires people with bachelor’s degrees versus those that hire right out of high school is more than you usually spend getting that degree.”

With tuition priced at about $330 a credit hour, Ivy Bridge is more expensive than your typical community college — in fact, it’s almost on par with actually attending a four-year public college.

But Freedman said the advantage is the guaranteed availability of the classes you need in order to finish on time.

And while the school isn’t entirely a nonprofit venture, Freedman said the school’s mission as far as its students are concerned is focused on academics.

“The curriculum comes from a traditional faculty environment and the focus on quality comes from a traditional faculty environment,” said Freedman. “Our whole model is based on providing a guided path to a high-quality education.”

While financial aid is available to attendees at the fully-accredited school, applicants to Ivy Bridge are encouraged to check which schools they will be eligible to apply for upon completion of the program.