Obama administration looks to Post-Secondary Schools to Emphasize Value
It is the American Dream to go to college & graduate with opportunities for prosperity & success, but the reality of post-college debt is outweighing these values for students considerably.
Here’s the American reality:
- The federal government allocates $140 billion annually into federal grants & loans
- On average, students with loans graduate with more than $25,000 in debt
- About 40% of students attending 4-year schools do not graduate
- Only 40% of students attending 2-year schools graduate or transfer
Consequently, unemployment rates remain high & there are projected shortages of highly trained workers in many industries. In the last decade, literacy among college students has declined according to a commission convened during the George W. Bush administration that said American higher ed. has become “increasingly risk-averse, at times self-satisfied, & unduly expensive.”
Everyone Pays the Price
The price of college dropouts is not only costly for the individual but for taxpayers as well. About 1/5 of full-time students who enroll at a community college do not return for a second year, costing hundreds of millions of dollars annually in taxes.
The cost of higher ed. challenges the expense of success among college graduates. President Obama weighed in with a strong “yes” for post-secondary schools to be more transparent about both.
For additional statistics & information visit:
- College Measures
- American Institutes for Research
- American Association of State Colleges & Universities
By: Mel Bishop