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Jun 26

2 Extra Years In College Could Cost You Almost $300,000

It’s very important to review colleges’ graduation statistics and retention rates because the longer a student stays in college, the more costs are incurred. In fact, sometimes what might seem like a less expensive route, for example, state schools, can end up costing more when students are closed out of courses they need and are forced to graduate later. This is an important discussion I have with my students and their parents.

“One extra year could cost students $147,026 at a public college or $155,244 at a private college in combined real and opportunity costs. Two extra years could cost students $282,691 at a public college or $298,995 at a private college in combined real and opportunity costs….

Among bachelor’s degree seekers who began school in 2008, only 40% graduated in four years, while 60% completed a degree in six years, according to the National Center for Education Statistics.” Read more here.

      
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