IMPORTANCE OF GRADUATING IN FOUR YEARS!

The higher education market place has been established around the four year degree program for ages. Although there are adaptations and business models that have been created offering alternatives the basic four year degree has remained intact. What this means for the consumer, students and parents, is that any additional time spent acquiring that four year degree is costing you in a variety of ways. I will attempt to outline the myriad of ways that additional time pursuing a degree is lowering your return on your college investment.

1) It is obvoious that each additional year is costing the student tuition and room/board costs.

Most college scholarships offered are for a finite period of time, 4 years or 8 semesters usually. As a recepient of a scholarship you may be paying as much as 50% less in tuition at some institutions and then suddenly in the 5th year your costs increase to 100%.

2) Every year you remain in school past 4 years in addition to paying tuition and room/board you have to consider lost income as well.

The average starting salary for a college graduate today with a 4 year degree is approximately $35,000. If you are still accruing cost for a 5th or 6th year of education and losing the ability to earn a salary then the total loss to you could be staggering.

For those of you who plan to enter graduate school then you are just delaying that achievement further as well.

The items I have talked about above are real and far too many students and families don't take them in to consideration. We have a tendency to only look at the next year in front of us. In reality we have to as consumers look at the four year investment you are making and how quickly you will receive a return on that investment.

I strongly encourage families to consider the four year investment total and really seriously consider what that 5th or 6th year of education will cost your student, and our family. You may pay a slightly higher cost to attend an institution that will graduate you in four years verse how rapidly the total costs increase that 5th and 6th year.

In conclusion, when considering college and how important graduating in four years is please remember:

100% of the college costs will be yours (scholarships are only for 4 years)

Loss of income - if you are not in a job you will be forfeiting on average $35,000.

If you have had to secure college loans then you will begin repayment one year earlier.

Big decisions need your attention so please consider these items when making your college decision.