Unaffordable Higher Education Leads to Low Graduation Rates
Although increasing numbers of students are enrolling in college, just 54.8 percent graduate within six years, with 47 percent of community college students and 31 percent of four-year college students dropping out before finishing their studies.
Economists predict that 2015 college grads will have to work until the age of 75. If life expectancy stays at 84, this means they will have just nine years of retirement.
Not surprisingly, the number one reason for leaving is financial.
But the cost of remaining is also staggering: 70 percent of college students graduate with debt, with an average of $37,172 owed. This is up by $20,000 since 2005; monthly payments, an average of $227 in 2005, soared to $393 a month in 2016.