Millions of college and university students in the United States are being pushed into incredible debt through student loans and other types of financial aid. Not just debt that lasts a year or two, but debt that lasts a decade or two or three.
And this is flat out the wrong way to do things. It compromises the future of a significant portion of the workforce. And it hurts society itself. According to an article in Huffington Post, unpaid student loans have swelled to more than $1.3 trillion, prompting dire warnings about future effects on the growth of the U.S. economy. And solutions to this daunting problem seem to be impossible.
So why would those of us who teach in and administer higher education allow our students to incur these exorbitant amounts of debt to go to college? And to allow this while we also realize that many of those students do not have the maturity to graduate in four years or to even graduate at all with anything resembling an actual education?
Students should absolutely not be permitted to graduate with a degree but not an education.
In its most recent survey of college pricing, the College Board reports that a "moderate" college budget for an in-state public college for the 2014–2015 academic year averaged $23,410. A moderate budget at a private college averaged $46,272. With these amounts of money at stake, higher education must become a system that filters out those students who don’t or can’t, right from the beginning, make the grade. College can no longer just be looked at as a maturing experience, a necessary bridge between high school and adulthood. The hard realities are that to saddle a kid with thousands and thousands of dollars of debt for something he mostly dislikes and that has little impact on him is just unfair.
There are plenty of students for whom college works, but also plenty that simply need more time to mature and to reap the true benefits of a higher education. And I certainly realize that kids who graduate from high school do need something beneficial to do, but needlessly incurring debt that lasts decades is not that thing.
One thing that should and can be done is to make the first year of college an intense, individually focused, pressure packed experience, one that weeds out those who should wait a few years to mature and to understand the attitude and discipline required in higher education.
It’s obviously disheartening to have to have a conversation with a student about maturity and not continuing when we know that that student might be the one who matures in his junior or senior year. But it’s also disheartening to watch the debt pile up and then watch students drop out after two or three years. The first year of college has to actually live up to the quotation attributed to a Dean at Harvard Law School: "Look to your left, look to your right, because one of you won't be here by the end of the year."
And as I said in a post on Jan. 5, maybe it’s time to throw away the manual on higher education and recreate the entire model of what truly needs to be accomplished. And financial aid is surely one of those problems that must be discussed at the very beginning.
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