Post by healthy11 on Aug 25, 2016 22:55:47 GMT -5
www.huffingtonpost.com/entry/there-are-financial-consequences-to-a-fifth-year-in_us_57bf47ffe4b00c54015cd480?ref=yfp
In 2014, the Four-Year Myth study by Complete College America found that only 26% of students graduate from a state’s flagship university in four years, and only 19% graduate from a non-flagship school in four years. Some universities will now add a free fifth year of college for students who have attended the school for four years, if they followed the required academic plan but still couldn’t complete the coursework required to graduate.
“More folks are looking at the value of college. Graduation rate is one way to measure that,” says Joe Orsolini, a CFP professional with College Aid Planners in Glen Ellyn, Illinois. “If this type of program raises the graduation rate even just a few points, then it is probably worth the expense to the college.”
For the student, the fifth year ― paid or free ― carries an opportunity cost of not being in the workforce earning roughly $30,000 to $50,000, Orsolini says. That is money you will never have a chance to get back..."
In 2014, the Four-Year Myth study by Complete College America found that only 26% of students graduate from a state’s flagship university in four years, and only 19% graduate from a non-flagship school in four years. Some universities will now add a free fifth year of college for students who have attended the school for four years, if they followed the required academic plan but still couldn’t complete the coursework required to graduate.
“More folks are looking at the value of college. Graduation rate is one way to measure that,” says Joe Orsolini, a CFP professional with College Aid Planners in Glen Ellyn, Illinois. “If this type of program raises the graduation rate even just a few points, then it is probably worth the expense to the college.”
For the student, the fifth year ― paid or free ― carries an opportunity cost of not being in the workforce earning roughly $30,000 to $50,000, Orsolini says. That is money you will never have a chance to get back..."