Rising college costs continue to deter students

A recent survey of high school students in the United States found that the likelihood of attending a four-year higher education institution sank nearly 20% in the last eight months – down to 53%, from 71%, according to ECMC Group, a non-profit aimed at helping student borrowers, writes Jessica Dickler for CNBC.

High schoolers are putting more emphasis on career training and post-college employment, the report found. More than half said they can achieve professional success with three years or less of college, and just one-fourth believe a four-year degree is the only route to a good job. ECMC Group polled more than 1,000 high school students three times over the last year. Even before the pandemic, families were starting to question the return on investment, said Jeremy Wheaton, ECMC Group’s president and CEO.

Tuition and fees plus room and board for a four-year private college averaged US$50,770 in the 2020-21 school year; at four-year, in-state public colleges, it was US$22,180, according to the College Board, which tracks trends in college pricing and student aid. The significant increase in the cost of college has outpaced both inflation and – even more starkly – family income over recent decades.
Full report on the CNBC site