As the fall semester winds down and students finally begin to breathe again, many are forced to drain their bank accounts before the holidays in order to secure classes for the spring.
Considering the present economic condition with students paying for more school, is an education still worth it?
We say absolutely. Yes, you’re going to be strapped for cash while in school, but are you in a better situation if you did not attend school?
Sallie Mae’s “How America Pays for College” study states that more students are paying for their own education now more than ever before.
Thirty percent of students contributed to the cost of their education from their own income, savings and borrowing. Students are spending more due to decreases in funding from the state.
Grants and scholarships accounted for 29 percent of the average money spent on college during the 2011-2012 school year, but it is a 4 percent decrease from the previous year.
According to the study, the decrease comes from fewer school scholarships.
Eighty percent of KC’s students are using some type of financial aid.
Most college students need more than one source of income to keep up.
This week’s Flare poll indicated that more than half of the students work part-time or full-time in order to help pay for college. Twenty percent of students that participated in the poll receive help from their parents or guardians and 54 percent of students rely on scholarships for part of that bill.
Parents continue to bear the majority of students’ college costs, however this percentage has dropped from 47 percent in 2010 to 37 percent in 2011.
An AP poll found that financial stress is a bigger factor than grades for students in determining whether to continue with school.
In a poll conducted by Stanford University, six in 10 students said they rely on loans to help with college expenses and nearly half said they are uncomfortable with debt.
Despite the rising cost, students and recent graduates say college is worth the time and money required. We believe that a college education is the most important choice we can make for ourselves. It allows us to broaden our knowledge and expand our minds to new experiences and opportunities. After all, it is the most crucial investment we can make for our future.