It seems that “affordable” means something different than it does to us. Higher education is, no doubt, an investment towards one’s future but it shouldn’t require an entire family to sacrifice their present (and likely their future) to support the learning aspirations of an individual. Take the poll below and then read the rest of this post to see what passes for “affordable” in this broader conversation across the industry.
[polldaddy poll=”9411860″]
From the article citing a recent study by the Institute for Research on Higher Education at the University of Pennsylvania’s Graduate School of Education, Peabody College of Vanderbilt University, and the Higher Education Policy Institute it seems that demands on families to support higher education are feeling a bit excessive.
Families making less than $30,000 per year have to pay 47% of their income just go to to community colleges in Mississippi, after accounting for financial aid. In Minnesota, it’s 61.5% of family income, on average, among the bottom quintile of earners.
Ouch! Note that these are after accounting for financial aid. Higher education, and specifically the question of affordability at public-funded institutions, seems to be rising higher on the legislative agenda across states – that’s the good news. But let’s keep in mind that every semester or quarter that passes without this issue being addressed puts these low and middle income families under growing pressure with the likely result being the persistence of high dropout rates from this very vulnerable population.
So where does the article wrap-up? Rather than the exception, this sounds like a lot of students that we know.
And while the diagnosis is troubling, Terry Long said it is actually even worse for students who go to school and support themselves, or have children or aging parents to take care of. It is also worse for families with two or more college-age children and for students who do not get all the financial aid they’re technically eligible for.
Read the full article on Education Dive below for more information.
College Affordability Diagnosis presents sobering picture of higher ed
