College Fees Discourage Gen Z From Pursuing Higher Education
The idea of improving college’s return on investment emerges as Gen Z becomes less open to enduring massive debt to fund their education.
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Many college students graduate with a mountain of student debt. A significant percentage go on to share their experiences and encourage avoiding college debt to the next generation. In today's world, transferring from a two-year institution, or not attending college at all, is the best way to avoid student debt.
College is generally the most efficient pathway to achieve high-paying employment. However, because of the burden of debt, this path can be frightening for many students who want to go to college. The main goal of resolving the ROI equation is to make higher education more affordable without the need to apply to hundreds of scholarships and financial aid programs.
Many borrowers have applauded the Biden administration's plan to cancel up to $20,000 in student loans. However, even with the presence of financial aid, the great cost of higher education in America persists and the younger generation is only growing more dispirited.
Most universities have seen a decline in enrollment in recent years, as many students foresee attending a two-year institution as a cheaper, and thus wiser, option. The two-year associate's degree typically granted by community colleges is regarded as a stepping stone to a four-year degree from a university.
According to Aaron Rasmussen, the CEO and founder of Outlier.org, community college should not be treated as a funnel into a bachelor’s degree. Instead, we should reimagine the associate's degree as a stand-alone, career-enhancing credential. This calls for community colleges to design more associate's degrees that include job skill training. As a result, students can earn both an associate's degree and an employer-approved certificate.
A four-year college degree is valuable, but for some people, two years of college may be enough to launch a career that supports their families without accumulating debt. Students should graduate from college with a smile and ready to take on the world without the burden of debt. After all, graduating college itself is not an easy task.