The New Math: Four Years of College...in Five Years

When one discusses the factors that drive college loan burdens, the fact that a FOUR YEAR degree----a misnomer for many----MUST be considered.

College graduation rates for the last 24 years reveal some interesting findings. In private four year colleges, 43% of graduates require MORE than four years to obtain a degree!! In public, state-funded four year colleges, 60% of graduates require MORE than four years to obtain a degree!! The national average for all four year colleges shows that 48% of graduates require MORE than four years to obtain a degree!!

Isn’t it about time to call a four year degree what it truly is?? A FIVE YEAR DEGREE----that is possible to obtain in four years----ONLY IF the sun, moon, and stars are perfectly aligned.

Is it any wonder that it is so difficult to budget for the cost of a degree, when the price of that degree is (according to the above statistics) often under-estimated by 20%.

More food for thought on why college loans are escalating more rapidly than any family budget item----with all deference to gasoline prices ---- which are controlled by the Middle East, NOT Americans!!