Many Students Could Save $50,000 On College … But Aren’t

Career College Central summary:

  • More colleges are allowing students to finish up their four-year degrees in just three years. But only a tiny percentage of students are taking advantage.
  • In 2012, Wesleyan University, an elite private college in Connecticut, became the highest-profile institution to actively promote an accelerated degree program, in which students could finish up college and get out into the “real world” after as little as three years of higher education. At the time, Wesleyan president Michael S. Roth wrote a guest op-ed for the Washington Post explaining that years prior, he had graduated from Wesleyan in three years, and he felt the benefits of such an option were enormous—among other things, he saved his family around $6,000, which was the cost of a year’s tuition when he was a student in the 1970s.
  • Because of a pricing model he described as “unsustainable,” Roth wrote that Wesleyan would immediately spread the word that the school’s current students could likewise finish up in three years, if they wanted.
  • Over the weekend, the Boston Globe published a story about three-year degree options at Wesleyan and other schools. Roth is still a big fan of the idea, agreeing with the words of a previous Wesleyan president, who told students, “If you look back at your years at Wesleyan and say those were the best four years of your life, we failed you.”
  • Roth told the Globe that students who are ready to move on after three years of college should do so. “You shouldn’t stay here because this is your time to screw around and have a great time and then it’s going to be bad,” he said. “These should be the years that launch you into the world in a better way.”
  • The idea makes sense to many students who are seeking the most bang for their buck, and who are terrified with taking on crippling levels of college loans. So it’s understandable that the concept of a three-year degree is increasingly mentioned as a money-saving tactic for college students and their families. And yet very few students are actually graduating three years after starting college.

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TIME
 

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