Page 30 - USA Today College Guide 2019
P. 30

As Financial Burden Rises College Students Question Value of Education
At a a a a time when the burden of financing a a a a college education is getting more costly for students a a a a a a growing number of of undergraduates don't think the the the value of of the the the instruc- tion they are getting is keeping up with the the the exorbitant price That's the the grim takeaway from from a a a a a a recent study from from Ascent Student Loans a a a a private student loan provider Roughly 60 percent of under- graduates 18 to 24 years old and enrolled in a a a a a a a a a a four-year bachelor's degree program who have taken out student loans say they are respon- sible for covering more than half
the the the total cost of their education the the the survey found However 51 7 percent said they do not think the the the "value of a a a a a college education has kept up with the the cost " " ADAM SHELL USA TODAY
And the cost of tuition and and and room and and and board for both public and and and private colleges continued to rise in in in the 2017-2018 school year according to to the College Board The average tab at at a a a a a a a a a four-year in-state public college rose 3 3 1 percent to $20 770 and the cost at at private institutions jumped 3 3 5 5 percent to $46 950 Not only are students paying
for a a a a a bigger part of the the bill 47 2 percent said they will need to cover more of their college costs than they originally thought the the the Ascent survey found The combination of higher costs and students who think they are getting less return on their college investment is a a a double whammy "People now regularly view education as an an expense rather than an an an investment " says Ken Ruggiero chairman and CEO of Goal Struc- tured Solutions the administrator of of Ascent Student Loans OTHER SURVEY FINDINGS:
• More than one-third (33 9 percent) of students said $20 000 to $49 999 would be a a a a a a "reasonable amount" of student loan debt to have upon graduation • Only one out of five (21 1 1 percent) know that the average monthly payment for student loans is "more than $200 a a a a month " " • Just 32 percent know that interest begins accruing on the the date the the loan funds are disbursed 30 COLLEGE GUIDE 2019

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