The Rising College Costs Infographic uses facts to show that because universities are charging students more money, the decisions and outcomes of students are changing. Due to growing tuition costs, many students have chosen to go to community college instead or just don’t go to university at all.
The rise of tuition is also forcing more students to take out student loans, which they end up paying back for many years. Due to their heavy debt, 85% of graduates will move back home because they can’t afford to go out on their own. The worst part is that many delay big life decisions such as buying a house, marriage and kids because they can’t afford to spend money on those things.
The Rising College Costs Infographic states many sad truths that will hopefully change in the near future.
Key Themes Behind This Trend
- Rising Tuition Costs
- Opportunities for disruptive innovation through affordable education alternatives and debt reduction strategies
- Community College Enrollment
- Opportunities for disruptive innovation in community college education and career training programs
- Student Loan Debt
- Opportunities for disruptive innovation through alternative repayment and forgiveness programs
Where This Applies
- Higher Education
- Opportunities for disruptive innovation in tuition pricing strategies, financial aid, and alternative educational models
- Community Colleges
- Opportunities for disruptive innovation in career training programs, online education, and partnerships with industries
- Financial Services
- Opportunities for disruptive innovation in student loan refinancing, alternative funding sources, and financial literacy programs
