I watched an interesting segment on The Today Show this morning about whether students should delay going to college due to the economy. The experts in the segment gave good advice on whether you should consider putting off college and what to do if you are thinking about it.
According to the report, the average yearly cost of public education is $6585 while the price for private institutions is $25, 153. This doesn’t include room and board. Thus, a lot of students are thinking about not even going to college due to the financial burden. The segment tells the story of one single mother and her son who are looking at the alternatives to his dream school. The young man says he doesn’t want to “end up in debt up to his ears”, so they’re considering community college and even the military.
Help From the Government
The MSNBC money expert interviewed in this morning’s piece points to possible increased government funding for education. She is hopeful that there will be additional funds for grant programs and that more schools will receive additional funding by the year 2010 when the proposed changed are slotted to take place.
Are Students Currently Delaying College?
The representative interviewed from the Admissions Department of the University of Michican says that students are not deferring college due to financial reasons but some may want to put off school due to burnout and a desire to do other things like travel. Though he does say that his school is working to prepare for the possibility of students delaying the start of college due to finances.
If You Decide to Delay College
Whether for economic or personal reasons, if you are thinking about putting off school for a year or so, there are some things to consider. The admissions expert on this morning’s segment recommends applying to schools anyway to be sure you gain acceptance. Then ask the school what their deferrment policy is. Can you defer your acceptance? If so, for how long will you be permitted to wait before attending? Most schools allow a period of one year, though that may be changing in lieu of the recession. It’s recommended that you communicate your needs to your prospective school admissions officer to see what can be done to meet your needs.
Regardless of your decision, it’s a good idea to talk to your school before finalizing it. Remember, you may be able to receive additional financial aid should your family’s current financial situation change from the time of application. Always ask questions. It can’t hurt.
You can see this segment on the Today Show website.