Should secondary schools be more transparent about the cost of education and success or graduates?
Obama has weighed in with a strong “yes.”
What are people getting for there money?
The debt amount of and average graduating student with loans in 25,000+. The federal government pours $140 billion into federal grants and loans annually. Despite this unemployment rates remain high, literacy among college students has declined and college drop out rates are increasing.
College drop out rates:
- 40% of students at a 4 year university won’t graduate
- 60% of students in 2 year programs won’t graduate or transfer (according to College Measures)
- 1/5 of students at a community college will NOT return for a second year
College drop out rates are expensive and not just for the individual. Drop outs are costing taxpayers hundreds of millions of dollars annually, according to American Institutes of Research.
Access to college has been the driving force in federal higher education policy or decades but with high drop out rates and thousands of dollars in debt more people are starting to question.
Is it worth it?
Luckily, Obama sees the problem and the Obama Administration believes strongly that the cost of education and the success of graduates needs to be evaluated so change can happen.