American high school students’ interest in attending a four-year university has fallen again for the second year in a row. main reason? Worry about the cost of the degree and taking on student debt.
The results come from a survey of high school students conducted by a non-profit organization ECMC Group, The study found that the probability of entering a four-year university has dropped by more than 20%, from 71% in 2020 to 48% in 2021.
Last year, the COVID-19 pandemic took a toll on universities. It required students to study remotely to ensure safety, but it deprived them of a more comprehensive campus experience outside of their studies. Now, as universities begin to reopen campuses to returning students and freshmen, the problem now is that prospective freshmen believe that the benefits of participating do not outweigh the financial risks.
Of the 1,000 students who responded to the survey, 46% said that they think their ideal plan after high school only requires three years or less of university study. However, an unknown number of students said that due to family or social pressure, they will study for a four-year degree.
Cost is the main reason high school students are hesitant to attend a four-year university.According to the data from University Council, The tuition, fees and room and board expenses of public universities in the state rose to 27,330 US dollars; in four-year private universities, the average was 55,800 US dollars.
The site also estimate The average debt for a bachelor’s degree program at a public or private university is $28,400. Perhaps reflecting the combination of the pandemic and continuing concerns about student debt, it was found that the total number of federal loans to undergraduate students fell by 46% between 2010-11 and 2020-2021.
For many years, student debt has been a controversial issue.this Biden Administration with Democratic Members of Congress proposed new measures to help reduce the debt burden of students. According to statistics, the current debt burden is $1.73 trillion. United States Federal Reserve.
