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$168 Billion in Government Aid to College Students: Only 53% Ever Graduate

Sunday October 31st, 2010   •   Posted by David Theroux at 3:05am PDT   •  

A new report from the John William Pope Center for Higher Education Policy assembles key facts regarding the serious problems in American colleges and universities regarding poor performance and the gigantic scale of government funding. Here are some example findings:

• Only 29% of college graduates achieve a score of “proficient” on national literacy tests. (National Assessment of Adult Literacy)

• Only 53% of students who begin college have graduated after six years. (The College Board)

• In 2008-09, total federal, state, and institutional aid to students totaled $168 billion. (The College Board)

• Between 1993 and 2007, inflation-adjusted spending on administration per student increased by 61%. (Goldwater Institute)

• In 2008, average debt of graduating seniors with student loans was $23,200—up 24 percent from $18,650 in 2004. (The Project on Student Debt)

• The average price of one year of college—including tuition, fees, room, board, supplies, books, and transportation—is nearly $40,000 at private 4-year universities and more than $19,000 for in-state students at public 4-year universities. (The College Board)

• 20% of individuals making less than $20,000 per year have bachelor’s or master’s degrees. (U.S. Census Bureau, Current Population Survey, 2009)

• After factoring in forgone wages and the cost of a college education, the average lifetime earnings advantage for college graduates ranges from $150,000 to $500,000—not the million dollar figure that is often cited. (The American Enterprise Institute)

For the full article, please click here.

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October 2010