The Cost Of College Dropouts

COLLEGE DROPOUT RATES 25% of freshmen drop out Reasons for dropping out Poor social fit: 13% Family support: 9% Mental/emotional issues: 3% Health problem: 5% Distance from home: 4% Academic disqualification: 28% Financial pressure: 38% Credit card debt and students Student loan borrowers Borrowers who dropped out Nonborrowers who dropped out 65% of students with 48% of students with credit card debt work no debt work part-time Enrolled full time Worked full time part-time Dropout percentage of those 16-24 40% of incoming college freshman will fail to earn a degree within six years 17.6% 13.2% 9.3% College graduates between 25 and 34 earn 40% MORE THAN those who never completed college 5.2% 3.4% $500,000 asian/pacific american indian/ alaska native white black hispanic amount a college graduate can make more than a high school grad over a lifetime islander Financial losses in select states (in millions) Income loss Federal income tax loss Massachussetts $100-107 $15+ California $386 $50+ New York $360 $50+ $100-107 $15+ New Jersey $100-107 $15+ North Carolina Техas $50+ Louisiana $100-107 Dropouts cost the U.S. $4.5 billion in lost income sources: http://www.duck9.com/College-Student-Drop-Out-Rates.htm http://nces.ed.gov/fastfacts/display.asp?id=16 -- the 2009 http://www.areyoureallyreadyforcollege.com/parents/high grades_and_drop_out_rates.html http://www.dailyfinance.com/2011/08/22/college-dropouts-cost-america-billions-in-lost-earnings-researc/