A study by scientists at the University of California, LA found that cost is becoming more of a factor in college selection. This shouldn’t be too shocking, as federal loan funding is drying up as tuition is increasing, alongside the belief that it should be to start with.
Price an important factor
University selection is a pretty big deal. There are a ton of things to consider. Distance from home is a large one. Getting there, moving in and subsequent trips home during the holidays involves a ton of logistics. Academics are another, as one certainly doesn’t want a worthless degree from a diploma mill and certain colleges are known for specializing in particular fields. Campus life is another, because quite frankly college can get boring.
Co-ed colleges are pretty significant to most university students.
Another consideration is cost. According to USA Today, a recent UCLA study found it is fast becoming the largest factor in college selection. It should be; one shouldn’t pay more for a degree that’s just as good somewhere cheaper.
Many have to consider it
This study was done two years ago by UCLA researchers, and it showed 62.1 percent of respondents made the decision based on economic factors. This year, the findings increased to 66.6 percent of students. About 283 colleges and 193,000 freshmen were interviewed.
About 43.3 percent said they looked at the cost of attendance. About 9.5 percent said a lack of financial aid helped them choose while 13.4 percent said the decision had to do with it being unaffordable.
Important thing to consider
The Wall Street Journal reports that the price of tuition has increased by 13 percent since the 2007-2008 school years, and that is just at non-profit colleges. Public universities saw a 27 percent boost in the cost of tuition, according to the College Board. This is why price should be factor students consider when choosing a school.
They may not pay the whole amount, though. Most universities contribute some financial aid and as a result, the net price, what students actually paid, increased by18 percent for public universities and colleges and fell by 4 percent at private non-profits. Additionally, roughly 86 percent of incoming freshmen received some kind of grant over 2011-2012, though universities often front-load grants, meaning seniors get more funding from loans than freshmen.
Grads going without work
The thing about university is that armed with a degree, one is that much more likely to stay in work their whole life. Unemployment is lower among university grads, last year’s figure, according to the Huffington Post, was 4.4 percent, about two-thirds of the overall unemployment rate. Estimates for combined recent graduate joblessness and underemployment ranged as high as 53 percent, according to a 2012 article in the Atlantic.
About two thirds of all graduates had student debt averaging around $26,600, according to the Project on Student Debt which did a study in 2011.
There is a harder time of employment and high chances of getting saddled with debt. Students better think about cost during university selection.
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College Selection, Finds Survey, Often Coming Down To Cost
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