According to the National Center for Educational Statistics, The 6-year graduation rate for first-time, full-time undergraduate students who began their pursuit of a bachelor’s degree at a 4-year degree-granting institution in fall 2008 was 60 percent. That is, 60 percent of first-time, full-time students who began seeking a bachelor’s degree at a 4-year institution in fall 2008 completed the degree at that institution by 2014. The 6-year graduation rate was 58 percent at public institutions, 65 percent at private nonprofit institutions, and 27 percent at private for-profit institutions. The 6-year graduation rate was 57 percent for males and 62 percent for females; it was higher for females than for males at both public (61 vs. 55 percent) and private nonprofit institutions (68 vs. 62 percent). However, at private for-profit institutions, males had a higher 6-year graduation rate than females (28 vs. 25 percent).
Six-year graduation rates for first-time, full-time students who began seeking a bachelor’s degree in fall 2008 varied according to institutional selectivity. In particular, 6-year graduation rates were highest at post secondary degree-granting institutions that were the most selective (i.e., had the lowest admissions acceptance rates), and were lowest at institutions that were the least selective (i.e., had open admissions policies). For example, at 4-year institutions with open admissions policies, 36 percent of students completed a bachelor’s degree within 6 years. At 4-year institutions where the acceptance rate was less than 25 percent of applicants, the 6-year graduation rate was 89 percent.
Do you know what the four and six year graduation rate is at your kid’s college? Parents are aware that some kids bail out of college, or get a little lost along the way and need an extra year or two to finish…but few seem to be aware of how few kids who start a four year degree finish it, even after six years.
40% don’t make it.
That’s pretty terrible to think about when your kid is taking loans that they intend to pay back with the career credential they’re hoping to earn. 4 in 10…almost half…don’t cross the finish line and get that job. Kids are left taking unskilled jobs and trying to make student loan payments on an education they didn’t finish.
I think parents need to do a better job discussing these very real pitfalls. They need to talk about consequences and Plan B. They need to discuss the finite amount of financial aid that can be given, and the importance of choosing a major wisely, and perhaps working a while until students know with some degree of certainty…roughly what subject or field they want to go into and if they do, in fact, have the aptitude for it. For many students, researching what subjects catch fire at community college (with classes that transfer to target universities) might be a very wise place to start. Particularly if these kinds of explorations can be funded out of pocket with a part time job rather than using up semesters of aid better spent at a four year college.
I’m not suggesting that students shouldn’t approach college with some flexibility as they learn more about their interests.
Most students change their major somewhat in college, or find a niche or specialty that they hadn’t considered before. I am saying that students should be encouraged to not go in blind. Researching what they want to do is a job that they need to put hours into, something they should do volunteer work to explore, something that should be foremost on their minds. It’s a responsibility. Students need a healthy realization that the window for decisions is finite, and that certain career paths require certain competencies…if they want the best chances to graduate.
40% futility rate…is just sad. It’s a tremendous waste and burden.