Important College Facts
In 2013 17.7% of high school students applied to more than 8 schools. The average percentage of students accepted off wait lists was 25%.
26% of Americans have at least an associate’s degree
45% of all college students first enroll in a community college
The average associate’s degree costs between $$0,000 and $60,000. The average bachelor’s degree costs $10,000
Last year the federal government spent $180 billion in federal student aid programs. This is an increase of 132% since 2002-03.
37% of all federal aid awarded last year was loans
$85 billion was awarded to undergraduate students
71% of all undergraduates received some financial aid in the 2011-12 academic year
The average aid amount increased from $9,000 to $10,800
According to the College Board, the majority of college students change majors at least once
College students need 30 credits a year (including summer school) to graduate in four years BUT only 31% of students take 15 or more credits a semester
600,000 students attended colleges last year where the dropout rate exceeded 85%.
68% of students in public colleges and universities fail to graduate in four years and 44% fail to graduate in 6 years
Nationally, 4-year colleges and universities graduated an average of 53% of entering students in 6 years and 40% in 4 years
Who Pays for College?
According to Sallie Mae, only 16% of parents with children under the age of 18 have a plan to pay for college
25% of parents are actively saving for college BUT according to a report by Fidelity Investments, more than 54% of grandparents are saving or plan to save for their grandchildren’s education. The average contribution is $25,000. 90% reported that they would contribute more if asked.
For further information, read The New College Guide: How to Get In, Get Out, and Get a Job