Federal student aid hasn’t helped lower-income students go to college, concludes a report by the Center for College Affordability and Productivity. Instead, federal aid has enabled colleges to raise tuition.
A “two-year” degree typically takes more than four years in California. Furthermore, associate-degree graduates earn a median of 78 credits — well over the 60 required — raising costs and taking up community college seats.
Tulsa Community College is free for local high school graduates with a C average or better. Property taxes pay for most of the cost of Tulsa Achieves.
A two-question postcard would replace the 108-question Free Application for Financial Aid (Fafsa) under a bipartisan bill proposed in the Senate. Students would get an estimate of their financial aid eligibility before they apply to colleges.
The Boomerang Kids Won’t Leave home, predicts the New York Times Magazine. With college loans and low-paying jobs, they can’t afford to pay rent.
One in five people in their 20s and early 30s is currently living with his or her parents. And 60 percent of all young adults receive financial support from them. That’s a significant increase from a generation ago, when only one in 10 young adults moved back home and few received financial support.
. . . Those who graduated college as the housing market and financial system were imploding faced the highest debt burden of any graduating class in history. Nearly 45 percent of 25-year-olds, for instance, have outstanding loans, with an average debt above $20,000. . . . And more than half of recent college graduates are unemployed or underemployed, meaning they make substandard wages in jobs that don’t require a college degree.
The photographer, who lives at home and freelances, was graduated from an art college with $120,000 in debt.
Alexandria Romo, 28, also a Loyola graduate, earned an economics degree but says she “had no idea what I was doing when I took out those loans” at the age of 18. She borrowed $90,000. Romo wishes she’d been taught about student loans, math and finance before borrowing at 12.5 percent interest. Romo lives at home in Austin and works at a security-guard company. Her dream is to be an environmentalist.
For $200 a month, anyone who’s mastered high school math can earn an online NanoDegree in programming in six to 12 months and qualify for an entry-level job at AT&T. The company created the new credential with Udacity, which is working on more industry-linked NanoDegrees.
Ivory Tower, a new documentary, blames soaring college costs on decreased state funding for higher education and increased spending on campuses. Colleges are competing for student loan dollars, says filmmaker Andrew Rossi.
The near-doubling of Pell Grant funding hasn’t decreased borrowing by low-income students, who are supposed to be the beneficiaries. States have cut funding and colleges have raised tuition using federal aid to make up the difference.
For-profit colleges charge $35,000 on average for an associate degree, on average, more than four times the cost at the average community college. Why does anyone choose a for-profit college? Students cite flexibility and convenience. Most use federal student aid to pay the bills.