Financial concerns are consistently identified as a top roadblock to higher education, and for good reason—securing scholarships and financial aid, along with carrying burdensome student loans, can overwhelm students before they even earn a degree.
Research shows that almost 3 million students drop out of school each year due to financial constraints. It also reveals that more than half of institutions don’t have, or are unaware of what they use for, automated scholarship management.
Most K-12 district leaders say it’s important to create a college-going culture, but they also cite concerns about paying for college prevent many of their students from applying in the first place. Students say another top barrier is difficultly matching potential careers to their interests, which is something reports about overall ROI, including career outlook, can address.
Students are increasingly concerned about their ROI, or their return on education, once they earn a degree—and a handful of new tools can help them get a better idea of the financial reality attached to higher education.