Thursday, October 9, 2014
Debt has some college students thinking about dropping out
In a recent Survey found almost half of enrolled college students are proposing to drop out due to the current price of school. Kids along with their parents are willing to do whatever it takes to pay and provide themselves with a great education but people can only pay so much before they exceed the limit to pay back the intense amount of debt. Some told the surveyors that they may have not made the decision to go to college based on if they knew what kinda debt they owe today. For students have at least one student loan the average debt is about 30,000 who now question whether it was worth it or not. Students are advised to look at the graduation rate, employment rate out of college and of course how much that school is per year.
Subscribe to:
Post Comments (Atom)
Degrees more expensive than ever before, students are accumulating debt in order to finance their educations. Not uncommon is it for a four-year degree to set one back as much as $60,000 a year. Not surprisingly, depending upon the nature of the 4 year degree major, many students actually end up worse off than if they had entered the work force at age 18. Student debt has expanded so greatly that it has delayed many young individuals from buying homes, beginning businesses or having children.
ReplyDeleteThe cost of going to college is greater than ever. Several decades ago, the cost of college was only a fraction of what it is now. It makes sense that students are graduating with more debt than ever before, which is hard to finance. Unless students get high salary jobs straight out of college, they will most likely be paying off that debt for many years. It is too bad that some students opt out of college strictly due to the costs. On average $30,000 of debt does not seem overwhelmingly, but that is because some students graduate without debt while others graduate with far larger amounts. Try to work off six figures of college loans could take some people the rest of their lives.
ReplyDeleteAlthough education costs might be considered high and it causes students to accumulate debt, a degree gives an advantage to graduates looking for employment opportunities in today's competitive market. So I feel like though the initial cost and debt is high in the longer run it is more beneficial as it helps in getting a job with a competitive salary. Thus compensating for the high costs initially.
ReplyDeleteCollege tuition is at an all time high, and has caused many students to leave and start working earlier than expected without a degree. I have witnessed this with some of my friends who previously attended OWU. The real question is if the education and future potential salary outweighs the debt that accumulates. I believe a degree is worth the time and money, but for some people it is not. Taking out a loan, or even multiple loans, is a common occurrence on college campuses these days, and the banks are not too helpful when it comes to the interest rate on the loans.
ReplyDeleteCollege is extremely expensive. However, in order to be successful, it is more than necessary to have at least a Bachelor's degree. Because of this, prices are rising for tuition. It is important to plan what you will study, if you can be successful with your major, and if you can get a job that will make enough money to pay off your debt. Sadly, because of the limited number of full time jobs for post-college students, this is difficult, and it is not uncommon for graduates to find themselves paying off loans working at a part-time job.
ReplyDeleteWhile I agree that a Bachelor's degree does outweigh college debt, I think it is also important for potential students to examine their own financial situation before selecting a school. I think students need to consider how much debt they are willing to accept before selecting a college. It is the unfortunate reality we face as college tuition does not appear to be declining in the near future.
ReplyDeleteI would argue that what scares many students is not the accumulation of debt from going to college, but of the fears that they may not be able to find a job after graduation to pay it back. I personally have talked with some students attending a local community college for a degree who have told me that they were contemplating studying another year simply because the job market is so rough right now.
ReplyDeleteIt's important for students to research what sort of debt they will accumulate over the next four years before attending. Looking how the job market is operating now, it's reasonable to say most students will fail to pay off their debt anytime soon. It's unfortunate that education demands for gradually higher prices year after year but to be ahead in today's world one must receive it.
ReplyDelete