While there are many problems college students’ face while attempting to obtain a degree, the largest hindrance from completion is that of financial ability. One of the largest contributors to college dropout rates is the lack of financial support. Many college students must work either full or part time to support themselves or their families. With the declining economy and increasing costs of college tuition, funds are being scarcely distributed and many college students find that they are unable to continue their education due of this.
The degree of importance placed on college education is in decline, and each year the number of students completing their degree is decreasing. There have been a vast number of surveys and polls of college students and some of the outcomes are astounding. “According to the US Department of Education, only 20 percent of young students who enter a two year institution will graduate within three years. While those who enroll in a four year institution have a slightly higher graduation rate of 40 percent in six years.” In today’s society higher education is key for the majority of the job market, but many college students find that even with a college degree they cannot find work.
The standard college student today is no longer 18 years old and enrolling in a four year university program. The new standard that is vastly seen is that of a part-time, older individual who is often working while trying to juggle their busy schedule. According to a report in the New York Times, “two-thirds of students said the economic climate had significantly affected their college choice, and 13 percent said they could not afford to attend their first-choice university, the highest percentage since that question was first asked in 2006.” With college tuition rates increasing “many students without a credential are plunged underwater financially.” “When students leave college with no credential and
Cited: Lewin, T. (2013). To Raise Graduation Rate, Colleges Are Urged to Help a Changing Student Body. New York: The New York Times. The Bill & Melinda Gates Foundation. (2009). With Their Whole Lives Ahead Of Them. New York, NY: Public Agenda.