Americans currently owe a combined $1.3 trillion on their student loans, according to the Pew Research Center. That’s more than double the amount owed just a decade ago—and nearly four in 10 adults under the age of 30 are now paying off debt from their education.
As student debt becomes a mounting problem, college and university leaders are looking for solutions to control rising costs and ensure that all students have access to a higher education. One possible solution that is receiving more attention lately is the “work college” model, in which all students are required to work for all four years of their education. Administrators track and evaluate students’ work performance, just as they do with academics—and this work offsets the cost of tuition for students.
Although work colleges have existed for many decades, interest in this model appears to be growing as rising college costs have forced more young adults to take out loans to pay for their education, putting financial stress on recent graduates.…Read More