Nikkita swain English October 29, 2015 Before going off to college one thing that really worried me was my financial aid. I live in a small town and all the students I’ve seen that dropped out said how their financial aid didn’t cover their college expenses. I love where I am from but I refuse to go back to Plymouth because my financial aid wouldn’t cover everything. Some reasons and assumptions to why student dropouts are: school isn’t for everybody, the work is too hard or they couldn’t balance out partying and school work. Although there are many explanations as to why students dropout; financial aid issues is the biggest reason to why college students dropout. The cost of school is a main factor that plays in the …show more content…
Many students find it hard to strike the work/life/school balance in a time when job competition is high, housing costs are skyrocketing and school is no longer the only factor to getting a decent job.” (Mara Tyler, Demand Media). A career isn’t grantee to people so why do we pay so much? Now what is financial aid? Financial aid is any grant or scholarship, loan or paid employment of federal to help a student meet his/her college expenses. Many athletic students come on a scholarship which makes it easier for them but also have rules to follow to keep the scholarship.( NYSFAAA>docs>what_is_finaid). On the other hand students that don’t have scholarships end up paying out of pocket or taking out several loans. Taking out too many loans can result in bankruptcy after completing college if you don’t have a job. So instead of taking out many loans students choose to dropout or wait to go back and attend. Students also have parents that are put through money issues too. For as central offers parent loans that you can either accept or deny. I accepted the parent loan because I didn’t have the money at the time so it was a big help for me, but in the back of my head I knew it had to be paid back. Here are some pros and cons to taking out loans say. the pros would be “ Simplicity: Consolidating your student loans can make dealing with them a little less unwieldy, with just one or two monthly payments and one or two accounts to keep track of.
After graduation, students find themselves in the daunting situation of how to pay their loans. Students accept jobs they dislike, they begin to depend on their parents, or resort to dropping out (Hart). Many student find themselves unable to continue their education so they decide either to drop out or transferred to cheaper schools, such as a community college, consequently placing themselves at a disadvantage in the careers they desire to enter. In fact, per an article written by Rachel Beckstead, “those without a college degree are twice as likely to be unemployed as those with one.” Loan debts are a steadfast threat; however, it goes beyond the present
Monetary investment for college is a huge contributing factor into the argument of why many individuals should not go to college. They simply cannot afford it. Their parents cannot help them pay for college, they didn’t receive financial aid, or they cannot support the financial burden themselves. Financial aid is very helpful when I comes to diminishing the cost of college. However, this doesn’t help all the time. I have a friend who
Federal Student Aid helps students get meet the costs of going to college or career school with grants, or loans or work study programs. It helps students learn about what help the government has and how to apply for and get financial help.
For many people they have dreamed about going to college whether it is local or far away. They can already picture their future being successful. Some believe they already have a lot of things planned out, from how they will pay for classes to where they will live. Surprisingly everything does not always go as planned. Let’s start off with financial aid. Financial aid is any grant, scholarship, or loans that are offered to help pay your college expenses. Many time this aid provided by federal and state agencies, college or foundations. Many times the aid given to you is based off your parent’s salary. This can sometime be bad if they
Coming from a 2013 study, published in Anxiety, Coping and Stress stated, “Those with greater financial strain perceived more stress, had more symptoms of depression, anxiety, and ill health.” There are many existing highly stressful situations that cause college students to drop out. Students that depend on themselves, with no help from their families are more likely to drop out due to financial issues. A survey conducted by Public Agenda reported by New York Times reveals that students who are receiving financial help from their families have sixty three percent graduation rate, exceeding the forty two percent of those who graduate and pay for college on their own. This proves
In his Essay “Are too many people going to college,” first published in a 2008 issue of AEI, Charles Murray explores many insights onto the topic of furthering education as well as exploring various other options to pursue after high school. Who exactly would think that too many people are going to college? Well with more and more students flooding campuses at the end of every school year and less and less going into trade schools, a shift in the job market is just beginning to be seen on the horizon. Charles Murray’s essay “Are too many people going to college” shows that not only are there other avenues to pursue a potential life long career, but that much of the time pursuing these avenues may offer better results for some wanting to go to college.
Families are now aiming low when it comes to college- or are simply not going at all. Money could play a huge part in this decision- after all, the cost of college has skyrocketed over the years, and so has the amount of student loan debt. This is something even Leonhardt admits, stating that, because of this, only about 33 percent of young adults get a four-year college degree today, while another 10 percent receive a two-year degree (Leonhardt). And even though many colleges offer financial aid packages, that money may soon be cut and the cost of college will continue to grow. It is true that, in my personal experience, just because a student is awarded financial aid does not mean they have a golden ticket to University. This leaves many desperate students the only option of taking out as many loans as they think they can handle- often more than they should. Debt is not a new issue for America, but it is still a problem. Although David Autor, an M.I.T. economist, laments: “not sending [young adults] to college would be a disaster”, no one can ignore the rising rates of loan defaults, and some think it
Financial aid is money in the form of loans, grants and employment that is available to a student to help pay the cost of attending. Financial aid comes from the federal government, which is the largest provider of aid, as well as state government, the school and a variety of other public and private sources.
1. More and more students have to pay for college on their own, or with little assistance from their parents. Learning how to live on one’s own and today’s complicated financial world is stressful, and it’s no wonder that some students would rather drop out and get a job rather than continue studing.
One of the number one reasons why students drop out of college is because of the financial struggles with college tuition. Without a big scholarship, college tuition costs can be a very scary thing to students. Some students do not even try to get into college because they know they cannot afford it. In order to pay for college students would have to work a full time job while attending school. Doing so is a very hard and stressful task to accomplish. Three of the main cons of providing free college tuition include rising taxes, student taking advantage of the opportunity, and the cost of expanding colleges including the demands for professors. Pros includes an opportunity for everyone and graduating from college debt free. Although an alternative to free tuition may mean a dramatic rise in taxes, our economy will benefit in the long run due to students coming out of college debt free, as well as more knowledge in specific career fields.
While there are many problems college students’ face while attempting to obtain a degree, the largest hindrance from completion is that of financial ability. One of the largest contributors to college dropout rates is the lack of financial support. Many college students must work either full or part time to support themselves or their families. With the declining economy and increasing costs of college tuition, funds are being scarcely distributed and many college students find that they are unable to continue their education due of this.
Research has shown that financial aid acquisition is one of the areas that is persistently misunderstood by students and their families. This misunderstanding has misappropriated thousands of dollars in financial aid to numerous students annually. Students no longer pay attention to their tuition bills or scholarship allocations. They often assume that loans are the only resources to pay for higher education. As the educational costs increase, students often decided to drop-out due to high loan debt and the inability to pay back this debt after graduation. A comprehensive institutional environment is no longer adequate to preserve a small attrition rate. Students that started with a sense excitement and enthusiasm, are falling through the cracks
Many people drop out because they struggle to pay for their education. Erin Shankie wrote in her article, “At the forefront of reasons for college dropout is the cost—and not just the cost of tuition, but the costs of books, materials, transportation, and housing” (Shankie). Students drop out because it’s tough try to focus on school and pass classes when you have to worry about how to get to school, what are they going to eat for dinner, and trying to find a way to pay for living
Life is believed to be easier for people with higher degrees than for those without higher degrees. Hence, it is the joy of parents to see their children admitted into a higher institution. With the high cost attached to attending a four year university, most students prefer to attend community colleges. Community colleges provide the same quality of education offered by universities for the first two years at a lower cost which help students reduce debts toward getting their higher degree. However, compared to the number of students who started their first year in community colleges, a large percentage dropped out. This is common to both freshly graduated high school students and adults who came back to college to obtain a degree. Students drop out of colleges because of financial issues and the need to take remedial courses. As a result, they have self esteem issues and may remain poor.
College graduation and dropout rates have long been used as a central indicator of education system productivity and effectiveness and of social and economic well-being. Today, interest in the accuracy and usefulness of these statistics is particularly acute owing to a confluence of circumstances, including changing demographics, new legislative mandates, and heightened political pressures to reduce the incidence of dropping out. Students who are unable to pass the assessments may simply leave school before graduating. Not everyone drops out because they lack the determination to finish, instead they run into another obstacle while equipped with the motivation. Those of which are trying to regulate the balance of work and school, unexpected family problems, and financial problems.