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Offbeat As financial burden rises, college students question value of education

17:11  11 july  2018
17:11  11 july  2018 Source:   usatoday.com

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THE ECONOMIC VALUE OF HIGHER EDUCATION There is considerable support for the notion that the rate of return on investment in higher education is high enough to warrant the financial burden associated with pursuing a college degree.

Even in high school, students can access resources to reduce the financial burden of attending college . Even as attendance of institutions of higher education has grown considerably over the past half-century, the relative costs and value of a college degree is a more controversial subject

At a time when the burden of financing a college education is getting more costly for students, a growing number of undergraduates don't think the value of the instruction they are getting is keeping up with the exorbitant price.

That's the grim takeaway from a new study from Ascent, a private student loan provider.

Roughly 60 percent of undergraduates between ages 18 and 24 enrolled in a four-year bachelor's degree program that have taken out student loans say they are responsible for covering more than half of the total cost of their education, the survey found.

However, more than half (51.7 percent) said they do not think the "value of a college education has kept up with the cost."

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Researchers who study the question of the rapidly rising financial burden of American higher education say it's important to understand that very different forces are driving the cost of delivering that education and the price students and their families have to pay.

This is what Americans pay for college , but what about international students who want to study in The question then becomes, how do they pay for it? Not only that, but what considerations need to According to International Education Financial Aid organization, one in four American students who

And the cost of tuition and room-and-board for both public colleges and private ones continued to rise in the 2017-2018 school year, according to the College Board. The average tab at a four-year in-state public college rose 3.1 percent to $20,770, and the cost at private institutions jumped 3.5 percent to $46,950.

Not only are students paying for a bigger part of the bill, 47.2 percent said they will need to cover more of their college costs than they originally thought, the Ascent survey found.

The combination of higher costs and students who think they are getting less return on their college investment is a double whammy.

"People now regularly view education as an expense, rather than an investment," said Ken Ruggiero, chairman and CEO of Goal Structured Solutions, the administrator of Ascent Student Loans.

Other survey findings:

  • More than one-third (33.9 percent) of students said between $20,000 and $49,999 would be a "reasonable amount" of student loan debt to have upon graduation.
  • Only one out of five (21.1 percent) know that the average monthly payment for student loans is "more than $200 a month."
  • Just 32 percent know that interest begins accruing on the date the loan funds are disbursed.

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