In case you’re wondering about the biggest problem for American colleges today, it’s pretty simple. Students are failing to finish their degrees on time, and often failing the finish them at all, in massive numbers. Key facts:
- Even at top state universities, only about 65% of students actually finish a four-year degree in four years.
- At all U.S. colleges and universities, only 40% of all students succeed at finishing a bachelor degree in four years.
- Full-time community college students now graduate at a rate of 57 % within six years (keep in mind that most community college degree programs are supposed to take just two years).
- Staying in college for just one extra year now costs American students over $15 billion per year.
- Skyrocketing student debt is causing grads to postpone graduate school, delay home purchases and put off getting married.
The election of Donald Trump as president has many educators expecting that the government will cut back on student aid funding. The federal government now provides $130 billion in student aid each year. Major cuts to that aid could put pressure on students to take out more private loans, which are expensive.
The net-net: Get a very solid plan to finish your degree in four years before you attend a single class at your college.