Over 30% of college students leave after the first year and almost 50% never graduate, according to the Department of Education. The leading reason for this problem seems to be a lack of money. According to the National Center for Public Policy and Higher Education: 1/2 of all entering freshman borrow funds, 1/5 of those who borrow drop out and those who drop out are twice as likely to be unemployed as borrowers who received a degree and more than ten times as likely to default on their loans.
The average student seeking a four-year degree takes on significant debt, totaling more than $15,000 to $20,000 by the time they graduate. But what about the students who borrow but don’t finish school? They’ll probably spend years struggling to pay off their student loans with only a low paying entry-level job. So what can students to help reduce the drop out rate? Here are five tips from Brendon Burchard, founder and CEO of the College Success Bootcamp, a nationwide college readiness program to prepare high school students for postsecondary education.
1. Discuss the college selection process and talk about finances with your family first. When a student ends up at a school they don’t like, they’re ten times as likely to drop out. Parents can be involved in selecting a college but should never choose the school for their student. Students should to go to a school where they’ll have a social support base (usually a school where at least some of their friends will go, or one where there is family).
2. Research federal and non-federal loans for better interest rates.
3. Research unexpected college costs.
4. Set up a bank account early and keep in touch with your parents or counselors. Students need to make their own decisions but it helps to have family members know what issues they are struggling with so others can provide guidance. Try to setup a regular check-in, like a call every Sunday night.
5. Students should pay their own way. When students pay a portion or all of their tuition, they recognize its value. Student loans are sometimes necessary.
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I am interested in where you found the statics to back up your “When a student ends up at a school they don’t like, they’re ten times as likely to drop out” statement. I really want to know more about that. I feel that I was one of those students. So if it is at all possible could you send me a web page or book, that supports this idea.
Thanks
Melissa
The college drop out statistic you mention was actually credited to Brendon Burchard, founder and CEO of the College Success Bootcamp, a nationwide college readiness program to prepare high school students for postsecondary education. You can learn more about his group at http://www.collegesuccessbootcamp.com
Its definitely tough trying to make it through college by yourself without any help from so-called family members.I am one of these people struggling everyday to make it. The bills I have always exceed my paycheck so everyday of my life I feel ya. Also financial aid helps me (single with no kids) but not as much, sometimes I have to pay out of my pocket. When comparing to other students (with multiple children) they get more financial aid than they can spend, purchasing extravagant gifts. It kind of makes me feel like having kids just so I can pay my bills.
College is not tough. College is not stressful. Money for college is everywhere. The problem is, people don’t take the time to find it and work for it. This is a common trait among college students, entitlement. Entitlement is the belief that one should simply be given something without actual work put into it. I see it every day in the classes I take. Students complaining about how basic algebra is too hard. Students complaining when a professor doesn’t immediately give them lecture notes because they didn’t show up to class on time. Students who spend more time with a bottle to their lips than an open book in their lap. My generation is EXPECTED to go to college and graduate. If we don’t, we’re failures. The sad truth is that the reason many students drop out of college is because they simply aren’t competent enough to get through it. They will blame everything except their own shortcomings.
College takes fortitude, a strong will and a well grounded education… and that’s needed before you start your first day. Too many simply lack it.
This story sucks, i failed every class in high school, except the one needed for graduation, and yet i have a masters degree in computer programming. It doesn’t matter what school, or how much money you have just as long as you just get in and do your thing. Its not a matter of smartness, its a matter of laziness
Students (teenagers) are faced with enormous debt brought on by school tuition, absurd fees that exceed tuition at most universities, book purchases easily exceed 100.00 per class, and then they have desires of independence like their own car, fashion clothes, entertainment, money for dates, the latest tech toys and communication devices. Jeez the list is long and credit companies are offering up credit until they miss a payment and then the student is paying 120+ per month in over limit fees, late fees, and interest of 27% which was assigned when a payment was late once. So society has not made it easy to afford life as a young adult and yes, they are expected to go to college.
Now there is an answer!
First as a parent or student you must understand federal aid through guaranteed low interest loans are extremely limited and it highly advised to attend a junior college for the first and possibly second year of college. The difference is 250.00 per 3 credit class including fees vs 750.00 per 3 credit class and fees at a university.
Second, if you are a young adult and you think the military is for losers, think again! The military (specifically the Air Force) cater to college students if the individual chooses a career that can accommodate a student. Think about it; definitely ask CURRENT military members who used education benefits!! The Veterans Affairs office at every college has ex-members that can give you important advice in choosing a career and benefits to look for. I will explain a few next.
This is an example of a perfect education plan for an engineering student like me (pretty much my life experience except I’ve added some late learned experiences):
A student may opt to stay at home and go to college that first year. They can be with friends and find out how hard life is at 6 to 8 dollars per hour. But they will not be able to afford the second year without taking student loans and their friends will start to get married and fade away as they start down a separate path. So the military is an option? I chose an electronic maintenance field working on aircraft avionic equipment. I chose the Montgomery GI Bill which pays for college primarily once you leave the active duty military. School tuition and fees are paid 100 percent so only the cost of books would be paid for you at that time. However, you are making about 1800.00 per month (base pay +housing allowance and food allowance) and you are at your first duty station which is normally the base closest to your home town unless you try really hard to get away from your family! So, you may travel some, it depends on the career you choose. This is an important question to get answers to if you plan to go to school. Many recruiters don’t know the details such as this but they have contacts they can call or they can refer you to a current military specialist in a field of question. Another choice is calling base public affairs and requesting help or a current military member. Either way, choosing the job is very important.
As I said, I chose electronics technician. Once my four year commitment was up I should have used that experience to join the air guard right away. The air guard highly encourages workers to complete college through money incentives, time at work to complete schoolwork, and somewhat of a flexible shift if needed. The air guard has very high paying civilian jobs through the week and some active guard positions which are really really good (and rare)!! Either job will pay substantially for your ability to perform a job. These jobs are coveted and only real professionals will be hired. But, you will find one available to you with your active duty experience. Now, state run guard units have their own educational benefits that are added to the federal benefits you acquired through active service. So when you go to school full time, you will receive a huge check from your job, have tuition paid by the air guard, and receive federal GI Bill benefits at the same time which is, for me, 1621.00 per month and I have a 20,000.00 student loan repayment which I didn’t need. On top of all this I have not discussed the initial sign-on bonuses. I’m not sure what the air force bonus is currently but the initial sign on bonus for prior active duty personnel is currently 15,000.00 (half up front, the rest paid out of the term of an enlistment). Yes, enlistment. Even though you are hired as a civilian in the air guard, you also must sign up as a traditional guardsman who does the 2 weeks per year and one weekend per month. Not a problem, the pay is very good during these periods and the two week period is normally left up to you to schedule – most schedule in the summer, especially if there is a trip to Puerto Rico or Germany they can go on.
I’ll be done with my engineering degree in two years, I go to school full time and work full time + the one weekend per month – my annual pay is 53,400 + tax free education benefits of 17600.00 per year + 100% free tuition. When I finish my degree I will have a choice of several high paying federal civilian jobs in this area. The civilian air guard years transfer to other federal jobs and make retirement in that job even faster. I can expect to have two retirements at age 60, one of which pays all medicines and most medical fees – very important to keep your retirement money when you are old.
And that’s all I have – Good luck.
[...] I’m only bringing this up because I don’t want it to happen to you. If money is the problem , consider this: college graduates earn roughly twice as much as non-graduates over a lifetime. You really don’t want to leave school with the double whammy of debt and no degree. If you’re struggling with money, get yourself to your school’s Financial Aid Office right away. They’re the best people to help figure out your options. [...]
Thanx for the interesting information. As a currently enrolled adult student I was asking myself the same question. As I sit in my evening classes and look around at the next generation of workers, I ask myself how many of these young adults will actually finish their degrees. How many appreciate that the government is paying for their education. There are so many wonderful opportunities today, it just takes a bit of elbow grease and some fortitude. If for some reason someone is reading this who has stopped taking classes due to a life upset. Remember you can always go back. I am back after a six year break and am so glad I am back finishing my BS. I have plans to continue on through to my Masters Program as well. Sometimes life gives us speed bumps, but you can make U turns and go back. Good Luck to all who are reading this.
Meh.
Yes, people say that there’s plenty of financial aid out there, blah, blah.
The applications are biased. They only ask for a broad overview of one’s financial status. They take for granted that life changes in the blink of an eye. A person who is making more than enough money one minute may be struggling the next. It’s not their fault, I know, but they should look into these things.
It doesn’t matter anyway. I just want to point out to the opinionated that everyone has an opinion, but it doesn’t necessarily make them right. You have to look at all sides of these things. Otherwise, you’re just being ignorant.
I attended Binghamton University for 3 semesters, first semester I messed up because i pledged an unchartered fraternity and lost sight of my goals, i was given another chance to redeem myself second semester but i just got by and didn’t do well, then my third semester i just stopped going to class and developed awful habits. Now I am faced with the problem of paying for the school, going to a community college, and having the feeling that I disappointed my parents. My only motivation is to better myself, most college students just want to get by, it takes a strong minded person to balance partying and school work because your going to do either or. My suggestion is stay away from the wrong crowd, don’t be pressured into doing things you don’t want to do and dedicate at least 2 hrs a day for school work. Keep an open mind, if you do dropout like me you have to pick yourself up and start from the beginning, now this time around you have weapons you didn’t when you first started.
I fell that the college dropout rate is a major problem in our society today. to me it all stems from the individual background if we as a people come together and find a solution to provide a college education for everyone that wants one free of charge. I bet you will find fewer dropouts, second “Teacher & Parents have to do their part. Children have to be mentally and academically prepaid, for the journey they will take to achieve the required work ethic to obtain their college degree.
i say…tuition should be lowerd.
I agree with Aaron: Public/State College/University education should be free. But there should be two rules that govern this practice: 1) No one is allowed to enroll in any class unless they can demonstrate that they possess the pre-requisite competencies to have a reasonable chance at success. 2) If you have to repeat the course, you pay for it. Only the first enrollment is free.
The college dropout rate problem doesn’t begin in college. It begins in kindergarten and continues on through the grades, as kids begin to realize that the system isn’t really designed to make learning/education and preparation for life the “prime directive” of their lives. If you’d like to really understand what the problem is: go to educateforachange.com
college is tough. There are struggles that leave you biwildered. I just wish there was more support out there for students who need it, not everyone has someone to say “you can” in their lives.
Some of those who drop out of college, drop out because they do not explore all of their options. There are thousands of scholarships, given for random things, that really help. I myself won $5,000 towards my college education for writing an essay and winning 2nd place. If you are determined and focused, most likely you can find an option to make paying for things much easier. There is almost always an option as long as someone is willing to take the time and initiative to find it.
In reply to Mark Alberstein:
I agree with your vision about free first enrollment and demonstrating potential for success, however your second statement in saying that it starts in kindergarten is quite unfair. I know people personally who grew up the same way that I did, with the same education throughout grade school and chose not to attend college, whereas I chose to go. College is not for everyone, there are plenty of successful people who never went to college, everyone is different so you can’t expect the same outcome for everybody.Your education is given to you what you as a person choose to do with it is your decision and cannot be blamed on an education system.
Kristin, I agree with you! When it’s a matter of choice, and finding your own pathway, dropping out of college is no problem at all.
But if nearly 50% of students who begin college end up dropping out is that a problem or not? What percentage of these are dropping out by “choice” and what percentage are dropping out because they just can’t hack it? My comments are made in the context of the nearly 40% of college freshmen who are required to take remedial courses before being allowed to enroll in their college courses.
However great the problems are in college, they are even greater in the K-12 sector. That’s why I refer to the “problem” starting in kindergarten. K-12 education is not preparing most of our youth for success in college – or life! Those who succeed in spite of failure in school are the exception, not the rule.
I question the idea that education is being “given” to all students. Many of the students that you might call “slackers” in high school were already far behind their peers by second grade, and many started out far behind on the first day of school, for any number of reasons. I submit that our assembly line, one size fits all education system bears a big part of the blame for so many of our youth disconnecting from school and falling far short of their real potential. Its all at educateforachange.com
I think a factor in the dropout rate is the unnecessary subjects you have to learn in college. I think most people have a strong interest in something, but then lose that interest when they’re bogged down with loads of math homework and homework in other subjects they have to take. Even after all these years, I still don’t see why we have to know the kinds of math I’ve learned all through high school and now college. Even substitute teachers always say, “Oh, I’ll have to remember this from when I was your age.” That, to me, proves that we’ll never need this math. If you’re an engineering major, then you should take it. If your major has nothing to do with math, you shouldn’t have to. I think that discourages many college students.
Can I salvage my fallen college career?
I went to The Ohio State University for a total of a year and a half, and the last quarter I took I really messed up. Mentally, I wasn’t prepared for college, and OSU unfortunately was not the right place for me. I was working 40 hours a week and juggling 20 credit hours, and I couldn’t handle it. I burnt out very quickly, and that resulted in pretty much failing my last quarter at OSU (it’s such an embarassing thing to say). I’ve taken time off to work fulltime and collect my thoughts, and now I desperately want to go back to school. I’m so afraid I won’t be able to go back though! Is it possible to obtain the loans/financial aid needed to get back in school? I would love to go fulltime so I can get it done with, but I’m afraid if I try again, I might burn out again. If I wasn’t paying incredible amounts out of pocket-is it possible to use loan money to cover rent and utility expenses?- I wouldn’t have to work as much, and I would be able to focus more on my studies. I had a good GPA in highschool, and my college GPA was a 3.32, before that last failing quarter. Is it possible to redeem myself? Most kids I know aren’t paying for college and don’t have to work, so it’s a little easier. I don’t have that, and I don’t have mom and dad to redeem me, so is it possible to redeem myself? What do I do and where do I begin? Any help would be greatly appreciated. I’m so sick of feeling like I failed, I need to get back into school!
classes are numbing. i went to a small state university, the lowest tuition in the state, and it was a joke. college is an investment. how can you invest with a loan? it’s a very risky investment, especially if you care more about knowledge than money, which most people without money tend to see things. i realized that i was burned out, and with an english degree, i knew i couldn’t do graduate school afterward, and i could not teach kids, no way. i don’t believe in college loans. it’s only a way to be trapped in this society that has terminal cancer. i just quit going one day. i realized that i was wasting my time in the liberal arts when there is a lot more important work to be done. i was more concerned with sustainable developement and being free from government and money, the exact opposite of what i was doing. work is worship, and i do not worship money or the government. i felt like a domesticated animal, and i longed for a more natural environment. growing up pretty poor, it was hard to relate to people. i felt like a sperm cell chasing an egg on a stick. why invest in a dead system? the internet is the cheapest, most useful and valuable education tool available. it is a social game, and i felt like a pawn. i’d rather starve and be a happy artist than be a sad looking overweight person in an SUV who bought all the lies this insane society sells. why doesn’t the government invest in young, poor men the same way, but on an individual, small business scale. i would love to have my own little sustainable artistic compound with my friends. why doesn’t the government want this? why can’t we major in ourselves? from cradle to coffin, all arranged in a checkerboard grid. i drives me insane. this is not right, it is not natural, and some people are more aware of that than others, some can cope with it, some cannot. i identify more with the street musicians than my fellow, deadpan students. education is more about socialization than learning. it automatically divides people into groups. it’s based on the prussian authoritarian model. i found maharishi university. this should be the model for all universities. too bad it costs 30,000 a year. in the netherlands, you get paid to go to college. america started out as independent farmers and frontiersmen who hated government, and now we depend upon it for our survival. don’t you see it? this whole thing is disturbingly not human.
i have got a year drop in my engineering due to my first year papers..but my second year is clean…..will i get a good job in future??
Jessica,
First I want to applaud you for so candidly sharing your situation and asking for help. You are NOT a failure and you’re not alone in your struggle to work full time and carry a full school load. It’s a lot to handle and the fact that you juggled it for as long is nothing to be embarrassed about.
It is possible to redeem yourself and there are programs available that will make it possible for you cover your tuition and some of your living expenses. One I’ve worked with is The Jack Kent Cooke Foundation
http://www.jackkentcookefoundation.org
Also, you might want to consider looking into career options that have loan “forgiveness” programs (i.e. teaching in rural and urban areas) You can find more information at:
http://www.finaid.org/loans/publicservice.phtml
Another option is to identify employers that offer tuition reimbursement programs which allow your company to pay for your education while you work and earn the income you need to support yourself.
There are many options available to you. I suggest you use the Internet, ask friends in similar situations, and utilize the Office of Student Services on campus to come up with the best options for you to get back on track.
When at first you don’t succeed, try – try again and that’s exactly what you’re doing. I know you’ll be just fine!
Sanyika
Sanyika Calloway Boyce
Financial Fitness Coach
http://www.Sanyika.com
I am actually thinking of dropping out because of math. I can’t seem to get it right and I don’t have the same problems with other classes.
College is easy. There are three things that are hard: Money, Party, Lazy. All three can be battled and beaten for most people. I’ve spent 10yrs in University (yes to PhD) and you see it over and over as a mix of the them. Drop-outs are not stupid, usually they just make stupid decisions. What you need: a full-time summer job, a budget, a source of credit (in many cases), go to parties, avoid anything that gives a hangover for more than 1 day, and when you need to work put your life into it like nothing else.
Setting your priorities is #1. Show up for class, study, stick to a budget and by all means have some fun! Staying out late and partying everynight will create problems, especially if you are hung over and can’t make it to class! Don’t procrastinate!
Easier said than done. College is easy, college is easy. College is not easy when you are managing all the documents, reading all the fine print, trying to convey what this and that means to your parents, negotiating loans, and having both of your parents confide in you because of a grueling divorce, and enduring manic criticism from parents when you begin to have a sense of confusion, of failure. College is not easy. And college has so far not been the cookie-cut out meaning of the phrase “best 4 years of your life.” If anything, it has made me become a bitter, anxious, and crazy emotional person that I never wanted to be. I wonder at times if I was mentally prepared for joining in this massive rat race for a degree, and although I quite often have thoughts of leaving, of dropping out, of GETTING OUT OF HERE…however enticing they seem to be, I am trapped. If I drop out, I will be $10,000 in debt at 19 years old. Anxiety swallows me daily, as I am thrown into a whirlwind of expectations, and a fear overcomes me, a fear of letting my parents down who have both desired strongly for me to be a college graduate. But sometimes I wonder if this has been right for me, and why I cannot identify with anyone I have met here, why am I such a sore thumb, and why, if people comment that I seem “smart,” am I so often talked to by my teachers in such a condescending manner? Why do I consistently try, and try, and try and yet people still see me as not trying hard enough, a cheater, lazy, or a simpleton. I don’t know. I am so sick of being treated this way. Just because I am young does not mean I’m carefree, no matter how many times I wish I was.
And overall, I do agree with Chad. Such an existence is often questionable; Are we…or perhaps just myself, meant to do this? Am I meant to spend the minutes, the hours, the days obsessing over words, problems,numbers that seem so irrelevant to my future? How am I supposed to know what I want to do for the next 40 or 50 years of my life?
I don’t want to be a slave to money, or debt, or anyone or business. I want to hold ownership fully over my bank account, my life, and my personal doings. But I am here. And it feels so bleak,and sickening to know that I still have such a long time it seems until I’m done with here.
I am single mom. I attend the University of Texas at Austin. I have financial aid and student loans. After paying tuition and books, I have about $2500 left for six months to survive. So I work full time at nights. My degree is aerospace engineering, so it is very involved. Since I work and have a toddler, I don’t have a lot of time left to study. So my GPA is 2.2. There is no scholarships available for people with low GPA like mine. I have 6 classes left to graduate, and I am thinking about to drop out, because the stress, sleep deprivation and lack of money is just not worth it. Any advice where to get the money?
And also, who the hell is going to hire me with such low GPA?
I was academically prepared for college. I took AP courses in high school, was dual enrolled for calculus I-III at my local university, took independent study, and many honors courses. I graduated with a 4.1 GPA.
I attended the University of Michigan in Ann Arbor for a year and a half before I dropped out.
The major reason for dropping out was my because I was not emotionally or socially prepared for college. I had a low self esteem, was pretty shy, and had few social skills. That makes social life in college a living hell, especially if your family is far away. It also sucks for someone in my position to say goodbye to really close friends from grade school, middle school, and high school.
The minor reason for dropping out was a lack of direction. I am interested in too many subjects. I couldn’t stand the idea of spending tons of time and money studying one subject only to find something new that sparks my interest.
I also felt pressured to attend college. I was supposed to be “the one who will actually make something of themself” in my family. I didn’t want to attend college right after high school but I felt obligated. I would have rather tried to become independent through local jobs, get my own place, and pursue academic interests on my own time. I really wanted to travel; I have never left my state.
Financial problems contributed a bit, but I have to admit I got a good amount through financial aid. Textbooks, computer programs, and other specialized equipment was pretty damn expensive.
I felt like such a failure after I left college. I became pretty depressed and felt really guilty for having wasted the money my parents invested. I also felt horrible for having to sponge off my parents for that time I was really depressed.
College is just a piece of paper, and one that I am casually getting with a perfect GPA at way too high of a cost. I don’t really like college at all, and it doesn’t teach me anything except how to get an A. I have a GPA of 4.0 and I spend less than five hours a week on college. I spend considerably more time pursuing certs and skills on my own, but employers are, shall we say, “stupid” and they want to see that degree. So, they will get it, and I’d like to stick them with the bill too. On top of all that, college is a joke in the United States compared to other countries. I know a girl in Iran that is doing some serious, shall we say, “stuff”, and she makes most college programmers I know look like they are playing with legos to try and make a living.
I hate it when people say that there is college money everywhere, or that college is easy if you aren’t lazy. College is difficult, and you need a lot of money to pay for it all. I received over $20,000 in scholarship and grant money. That’s a lot, but didn’t even pay for a fourth of my college expenses, and a 6 or so dollar an hour job sure doesn’t take care of the rest. College is expensive these days, and its nearly impossible to get through without racking up some serious debt. (Those who have done so, consider yourselves lucky.)
And Doug? Sounds like you just went to a lousy college. I may feel that college is overpriced, but I know my education left me more than competitive on an international level.
At times people are squabbing over money matters and their relationships gets affected
because of this. i too was one of the victim to this and i was adviced by one of my friend to get rid of this and i did …
And it worked for me and now, i am leading a happy and contentful life
Money and Relationships
I completely agree with Chad and Valarie. I have been in and out of college for 7 years and am clinically depressed because I completely bought into this capitalization of education. I understand what Chad meant by saying the government/certain individuals want us to be in this big machine, buying lies that years of cramming our brains with science and engineering will ultimately equal a better life, but really? It may be true for some people, but for others who cannot remain mentally healthy in public education systems will ultimately go bat-shit crazy, or be depressed for the rest of their lives. I am now 2 quarters away from graduating, yet I feel so drained and unhappy, I don’t even care. Socialization of our education systems and creating smaller colleges would help, but really the problem lies in bureaucracy and the political system one lives in.
oh, I am a biology major with emphasis in neuroscience at one of the nation’s best science institutions…