High school graduates 26 to 34 years old are wary of borrowing for college and may have dropped out for financial reasons, concludes One Degree of Separation, a Public Agenda survey funded by the Gates Foundation. Compared to young people with a certificate or degree, high school graduates are less likely to be on a promising career path. However, most believe they can succeed at work without additional education and say college has been oversold.
Those with only a high school diploma are more fearful of borrowing for college and much less knowledgeable about financial aid options, the survey found.
Once the bugs are worked out, net price calculators will help prospective students estimate how much they’ll pay for college, writes Bill Gleason on Chronicle of Higher Ed.
Using College Board’s net price calculator (sign in as “guest”) and declaring poverty-level family income, Gleason discovered that a low-income student would have to borrow $11.268 a year to attend University of Minnesota, where he’s a professor.
At the University of North Carolina, a student without financial resources would see a net cost of $2,700.
The U.S. Education Department is trying to make college costs transparent.