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NetPriceCalculator.info founder James Boyle on why the rate of students that graduate in four years is impacting the rise in student loan debt that st...
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In focus tonight college students and their debt.
When choosing a school there are many factors to consider the name the location that reputation.
Many students however don't consider this dirty little secret.
The graduation rate.
Look the sad truth this many students simply aren't graduating on time.
For more on this I'm joined by Jim Boyle former president of college parents for America and founder of net price -- -- -- A website that helps families understand the cost of college welcome back to the show Jim it's great to see you.
Did I hear again I'm astonished by this story now I had known that greater need was taking longer and longer for kids to graduate look at this.
The graduation rate for US public colleges in four years just 31%.
All this means is more and more and more debt for college students and their families what do you make -- this.
Well -- as you noticed in the details of that story there's a great variance between state to state on these statistics.
At the University of Virginia where there's a concerted effort by administrators and students to help students to graduate on time.
The rate is 85%.
But in places like University of New Mexico Alaska South Dakota North Dakota the -- is is -- less than 25%.
So clearly you can get Smart and choose a school that seems to be pushing kids towards graduation.
Is that the culprit and that's.
I think there's three factors academic failure.
Financial problems and indecision.
Some students just don't succeed in college are they're taking remedial classes in the first or second year of school.
And then have to sort of catch up in order to get the required credits to graduate.
Other students have financial issues they have to drop out for a semester to.
To make some money in ordered to be able to continue in school.
And then finally -- decision means that students change their major and end up having to take more classes in order meet the requirements of that major.
Yeah and there are a lot of kids have -- they change their major -- -- -- Missed classes they drop out of classes should kids be pushed to finish in four years because that the difference in terms the bill that's a note is huge.
Well.
You know I I think it's you know it's the villain here is really not the student film that's it it's a combination it's a combination of factors -- mean.
This this this statistics that you're citing.
Also include so called adult students so not everyone files a traditional path of graduating from high school starting college.
With money from their parents to back them up some students.
You know they're independent students they're on their own they're starting college they have to take a break they have family issues that come up and they wanna continue with that 57%.
Of students nationally graduate within six years at the college where they started that's not a comforting statistic now but it shows that a greater number I didn't stick with -- an event.
Graduate let me ask you this question what responsibility do the colleges have.
And getting these kids and adults obviously older older students through in four years.
They have a responsibility to provide good counseling to the students to give them advice about what classes to take.
And then they also -- responsibility to make available the classes that students need in order to graduate on time.
And they also need to make those classes available at sort of off peak if you well.
Summer January.
-- within -- -- college academic year.
I think most people think it's incredibly short and it this.
It it's basically four months in the fall and four months in the spring.
There's four months of the year the colleges and universities need to take better advantage of.
While I agree with that that seems.
As seems like absolutely true but -- -- -- -- ex head and you're getting out of college in May be.
You know five years after you started that's the year you could have been working at theory that is set aside money for home my house kids what ever.
Really -- -- people at a disadvantage in the workplace because they're not getting the experience -- not making money.
Exactly it's a double whammy because they're paying for one more year of school and they're delaying for one more year.
Their ability to earn money and also certain of the federal financial aid that's available has caps related to it.
So your only able to.
To borrow so much money under the Stafford loan program.
And then no more you're only able to borrow certain amount of money under the pell grant program and then no more so in students don't pay attention to -- those details as -- because they're planning there.
They're four years no -- I think starts off wanting to go to school for five or six years but a variety of circumstances.
Intervene unfortunately.
What -- advice for parents and for college students about how to get the how to get the job giant in the least amount of time possible.
Well Edgar a great way is is some advance credits by looking at advanced placement.
In high school or by taking.
Community college courses or courses through companies -- -- straighter line.
I'm in the summer before starting school -- -- get some of those core classes out of the way.
And other ways to look at a lot of schools have -- January semester.
That's that's right after Christmas and it to sneak in a class or two during that so that you're able to kind of catch up.
During the four year period.
Rather then just stay with the traditional academic year and then suddenly find yourself a year behind.
Well Jim thanks for your time tonight at fascinating topic I know a lot of pair that's up there are paying a lot of attention to it thank you -- --
