This May Be the Best Strategy to Make College More Affordable

This May Be the Best Strategy to Make College More Affordable
Beth Dumbauld

Today’s post is the ninth in a series of practical tips on how to save money on college.

Today’s saving money on college tip is:

Graduate on time.

According to a recent report by Complete College America, only 19% of full-time students end up earning their bachelor's degree on time at most public universities in the United States. Even at flagship public universities school within each state, only 36% of students graduate in four years. At community colleges, only 5% of full-time students graduate in two years.

"Hands down, our best strategy to make college more affordable and a sure way to boost graduation rates overall is to ensure that many more students graduate on time."

On Time Graduation Rates by Degree Type

  • 1- TO 2-YEAR CERTIFICATE: 15.9% On Time
  • 4-YEAR BACHELOR’S Degree (NON-FLAGSHIP): 19% On Time
  • 4-YEAR BACHELOR’S (FLAGSHIP/VERY HIGH RESEARCH): 36% On Time
  • 2-YEAR ASSOCIATE: 5% On Time

Not Graduating on Time Will Cost You

According to Complete College America, you'll be paying an extra $15,933 more for every extra year at a public two-year college and $22,826 for every extra year at a public four-year college. In other words, 4 years of college is significantly less expensive than five or six. Likewise, earning your bachelor's degree in 3 years will cost you significantly less than four years. This is why a growing number of students are using online classes and enrolling in competency-based degree programs in order to reduce the number of years  it takes to earn their degree (in 2 to 3 years versus 4) and/or ensure that they graduate time.

The group emphasizes, "Hands down, our best strategy to make college more affordable and a sure way to boost graduation rates overall is to ensure that many more students graduate on time."

Today’s scholarship highlight is:

scholarship_Strayer_123014Save up to 60% on your degree with the Strayer University Partner Scholarship & StraighterLine.

Strayer University is one of the participating StraighterLine Partner Colleges that offer a scholarship exclusively for StraighterLine transfer students.

Here’s how it works:

  • Complete just 4 StraighterLine courses to be eligible for a Strayer University Scholarship.
  • Take the maximum number of courses at StraighterLine that fit into your degree program and save up to 60% on your degree from Strayer University.

It’s easy to qualify. There are no essays, lengthy applications or deadlines. All you need to do is complete four StraighterLine courses and transfer them to Strayer University. Your discount will be applied to the participating college’s tuition when you enroll.

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