The Unspoken Reasons For The Decline Of College Enrollment
First appeared on MSN.com!
Not too long ago, college was the ultimate goal for students. A college degree wasn’t just a sign of success. It was the entry ticket to exclusive, high-paying jobs. It was virtually a way to guarantee that you’d get hired by picky employers.
These days, college isn’t what it used to be. A study from Best Colleges notes that enrollment has been on the decline since the 2010s. Why are people avoiding a degree? Well, the answer isn’t as cut-and-dry as you think.
Escalating Costs
Let’s start with the elephant in the room: escalating costs. The average four-year college degree now costs over $100,000 for all four years in an in-state institution, according to EducationData.org. The same study notes that out-of-school total costs can exceed $180,000 on average.
This price tag is horrifying, even if you get tuition aid.
Worse, college loan debt cannot be discharged in bankruptcy. So, if you go to school and drop out, you’re on the hook for that loan. Add high interest rates, and you could be paying that tab well into your 50s.
