The Lexington Herald-Leader recently reported that,
overall, more Kentucky students are graduating
college. However, there is a noticeable gap between the number of low-income college
graduates and middle-to-high-income graduates. The graduation rate of
low-income students dropped to only 35 percent versus 53 percent for middle- to
high-income. That is an eight point increase in the gap since 2008.
The Kentucky Center for Economic Policy states that the slow
economy and rising cost of college may be to blame for the widening gap. Most
state universities raised tuition and reduced financial aid over the past two
years. Last year, over 90,000 eligible Kentucky students were denied financial
assistance for college. In order to cover the costs of college without
assistance, more students are relying on student loans. The average Kentucky
four-year college student carries $19,000 in student debt.
Another reason for the graduation gap may be students trying
to avoid debt. As Chairman of the Kentucky House Education Committee, State
Rep. Carl Rollins states that low-income student are hesitant to take out
loans. This reluctance to incur debt, paired with rising tuition, leads many students to delay higher
education. For some, the delay becomes indefinite.
To reduce the costs of higher education as well as
decrease your dependence on loans, students should try saving for college as
soon as possible. Also, students should not wait until the last minute to seek
out scholarships. State-funded scholarships give priority to those who apply
early. Though funding for state scholarships is being cut, there are also many
scholarships and grants provided through private awards and contests. Ask your
guidance counselor about contests and awards for which you may qualify.
One way the reduce costs without delaying school is to
attend community college. Community colleges offer courses with much lower
tuition and fees. The campuses tend be local, thus students can stay home to
cut living expenses. The savings would be significant, even if you only attend
for a couple of years. You can take core classes at the community college, and
later transfer to your preferred school or program.
Readers, what do you think? Realizing the average debt of those graduating four-year
universities is $19,000, are you looking for ways to reduce the cost of
furthering your education beyond high school? Are you thinking of maybe going
to a community or technical college for at least your first two-years?
Reference: Blackford,
L. B. (2012, July 9). College graduation gap widens for low-income Kentuckians.
Lexington Herald-Leader. Retrieved
July 12, 2012, from http://www.kentucky.com/2012/07/09/2253489/graduation-gap-between-poor-and.html.
