How do students feel about the cost of college?

The results of the college affordability survey show that 68 percent of college students say they or their families struggle to pay for their education. Almost half of the students polled, or 46 percent, said tuition has been the biggest pain point followed by technology, books and course materials, and housing.

How do people feel about the cost of college?

Just 4 in 10 Gen Z students said college was worth the cost.

Less than half said college is worth the overall cost. The majority (56%) of students said college is a financial burden for them or their families. Most students agree that college comes with benefits.

Do students think college is worth the cost?

Forty-one percent of students attending private not-for-profit institutions strongly agree the degree they're receiving is worth the cost, compared with 33% of those attending public colleges.

How does the cost of college affect students?

With ballooning student loans, graduates tend to delay making major life decisions, such as buying a home, getting married, or having children. Other effects of rising college tuition include students enrolling at less expensive community colleges or dropping out of college altogether.

How do families of undergraduate students feel about the value of a college education?

Although most California parents want their children to graduate from college with at least a bachelor's degree, roughly three-quarters worry about being able to afford a college education.

The Real Reason Why College Costs So Much

How many people don't attend college because of cost?

Among adults without a degree who aren't currently enrolled, 55% reported program costs as a "very important" reason why they're not in college, while 45% blamed concerns about affordability due to inflation and 38% cited the need to work.

What percentage of students can't afford college?

As college costs continue to rise, financial hurdles are proving insurmountable for many potential students. Thirty-four percent of young adults who aren't currently enrolled in college say it's because they can't afford it. Rather than spend money on education, 31% of respondents chose to start working full-time.

Why is it important to think about the cost of college?

Ultimately, you're planning for your future career and finances, so knowing as much as possible in the beginning of your educational journey can literally save you money and time in the long run.

What are the negative effects of expensive college?

Due to the fact that attending college is becoming more expensive, students are trying to save money in other ways. This usually leads to food insecurity as well as housing insecurity. Around 1 in every 3 college students in the U.S. lacks enough to eat as well as stable housing.

How does the cost of college affect students mental health?

Financial Stress, Emotional Burden

“Under financial stress, young people can experience emotional and physical symptoms such as fear, shame, despair, trouble sleeping, low energy, substance misuse and even suicidal thoughts or behaviors,” Walker said.

What are the pros and cons of free college?

The benefits of free college include greater educational access for underserved students, a healthier economy, and reduced loan debt. Drawbacks include higher taxes, possible overcrowding, and the threat of quality reduction.

Does college really cost that much?

Tuition and fees vary from college to college. In looking at schools ranked by U.S. News, the average cost of tuition and fees for the 2023-2024 school year is $42,162 at private colleges, $23,630 for out-of-state students at public universities and $10,662 for in-state residents at public schools.

How many people think college is too expensive?

A WSJ survey found that 56% of Americans now say a four-year college degree isn't worth the cost. The poll highlighted a growing skepticism about the value of college and associated student debt. The findings underscored a decade-long college enrollment decline, which the pandemic exacerbated.

Why should college be cheaper for students?

Every student deserves the opportunity to obtain an affordable, high-quality college education. College can raise lifetime wages and expand students' understanding of the world. Our society also benefits if a high-quality college education is available to all students.

Why is college worth the cost pros?

College graduates typically make more money: According to the Bureau of Labor Statistics, workers aged 25 or older with at least a bachelor's degree had a median weekly wage of $1,588 during the second quarter of 2023.

What are 3 disadvantages of going to college?

Is college ridiculously expensive?

The cost of a college education has risen exponentially over the last few decades. According to data from the National Center for Education Statistics (NCES), between 1979-1980 and 2021-2022, college costs increased by 136% when adjusted for inflation.

Is college too expensive for students?

Today's California students, by contrast, graduate with an average of more than $20,000 in student debt. California offers more generous financial aid than most other states, but gone are the days of taking free college for granted. Studies show many students struggle even to afford food and housing.

Why can't some people afford college?

The cost of a college education continues to rise while family wages largely have not kept pace. Inflation is another factor socking families in a number of areas – housing, food, and yes, college, too.

How many students miss out on college because of money?

Just over two-thirds of students who drop out of college do so because of money, while 79% of delayed graduations are due to financial difficulties.

What would happen if all colleges were free?

If public colleges and universities were free, it could have several potential effects. Increased Access to Higher Education: Removing the financial barrier of tuition could make higher education more accessible to a larger portion of the population, including those who may not have been able to afford it otherwise.

How many people are successful if they don't go to college?

Based on these findings, those who become highly successful without college education appear to be in the minority, roughly 6 percent.

Does college matter anymore?

According to research from Georgetown University, the lifetime earning potential of a worker with a bachelor's degree is $2.8 million. Without a degree the expected earning power is $1.6 million. But in a study of universities in Massachusetts, college graduates were found to earn no more than high-school graduates.

How do people actually pay for college?

In the 2023 Sallie Mae and Ipsos survey: 72% of families surveyed reported using parental income and savings to pay for college. 58% said they used a parent's current income to pay for college. 30% relied on funds saved in a college savings account, like a 529 plan, to pay for school.