Students’ Right to Know
- BY FGA
THE RIGHT TO KNOW…WHAT?
The true cost of major colleges and certifications from technical schools.
The most in-demand jobs in the state, including starting salaries and educational requirements for those jobs.
The average student loan payments, loan default rates, and total student debt.
Despite the student debt crisis, the road to college is still sold as the only option to young adults. Providing additional information can help them make an informed decision.
Students Are Incurring High Debt and Limited Career Pathways
Students are not fully informed about alternative pathways to good-paying jobs.
Students are being pressured into four- year degrees that do not reflect the needs of the modern economy.
Total U.S. student debt totals more than $1.57 trillion—the average debt per student is more than $36,000.
Ashlee had been balancing school and full-time work as she worked towards a four-year degree while helping to support her family financially. During her third year of college, she made the tough decision to stop attending classes—but she still had $12,000 in loans to pay back.
“I’m drowning in debt for a piece of paper I never received,” she says.
Now, Ashlee is in default, owes more than she initially took out, and her debt has ruined her credit. Ashlee isn’t alone. More than half of college students enrolled in a four- year program have not graduated after six years. Dropouts face a student loan default rate that is three times higher than those who have graduated.
WHAT INFORMATION IS PROVIDED?
State education departments would provide the following information to in-state students, allowing them to make informed decisions about their educational and professional future.
- The 50 most in-demand jobs in the state, including starting salary and education level required
- The average cost for all major colleges and vocational schools in the state
- The average monthly student loan payment for individuals attending majorcolleges and vocational schools in the state, by institution
- The average three-year student loan default rate for all major colleges and vocational schools in the state
- The average total student loan debt for graduates of major colleges, both for four-year degrees and graduate programs
- The average graduation rate for all major colleges and vocational schools in the state
- The completion rates for apprenticeship programs, high school credential programs, career and technical education programs, and military first-term enlistments
- The share of college graduates working in an occupation that does not require a college degree, by major
- The average starting salary for individuals graduating from a major college
- The average starting salary for individuals who have completed an apprenticeship program, high school credential program, or career and technical education program
- The base pay for newly enlisted service members
- The average starting salary for individuals graduating from a vocational school in the state