Online education company Chegg has seen its stock plummet 99% since 2021, losing $14.5 billion in value and 500,000 paid subscribers. The company, known for textbook rentals and homework help, is struggling to pay its debts as students abandon its $20 monthly subscription service in favor of ChatGPT.

Educational institutions face increasing cybersecurity threats, with 80% of K-12 schools experiencing ransomware attacks in 2022. Schools collect extensive personal data but often lack robust security measures. The MOVEit ransomware attack in 2023 affected 800+ educational organisations, compromising 1.7 million individuals' data.