College is often touted as a requirement for a high-paying job, or a ticket to the middle class, especially for low-income students. However, college is also growing increasingly unaffordable for everyone but the most well-to-do families.
With students of all backgrounds unable to afford the rising cost of college on their own, the government is eager to assist by loaning them tens of thousands of dollars in order to pursue their degree.
The problem? Many of these students don’t graduate college, and when they drop out they are often burdened with debt that could be difficult for them to repay.
Less than half of college students graduate within four years, with about a quarter of first-time degree seekers not finishing their degree within six years. Not measured in these graduation rates are part-time students, transfers, and adult students, who make up a large chunk of the student population and who also often take out loans to help with tuition costs.