Latest Research Report From Sallie Mae and Ipsos Identifies Barriers to College Completion
'How America Completes College 2024' Breaks Down Differences Between Those On Track Toward Graduation and Those At Risk Of Non-Completion
First-Generation Students Are Twice As Likely To Seriously Consider Leaving College Before Completion Compared To Students From College-Educated Families
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At-risk students cite financial challenges (30%), changes in motivation (24%), and mental health issues (18%) as primary barriers to college completion. In fact, mental health challenges are a concern for half of all current students. Only half (50%) of current students rated their mental health as good or excellent.
Sallie Mae’s “How America Completes College 2024” compares the perceptions of higher education among young adults, ages 18-30, currently enrolled in a 2- or 4-year program, and young adults of the same age range, who began their degree but withdrew before completing.
Nearly nine in 10 (88%) first-generation students believe college is an investment in their future, yet 41% of those who are first in their family to attend college have seriously considered leaving college compared to 18% of students from college-educated families. First-generation students are also more likely to work longer hours while in school and found it difficult to prioritize mental health, compared to other students (58% and 44%, respectively).
“The research highlights that college can be a challenging experience for all students as they are learning to balance school, social, and all their other responsibilities,” said
Approximately six in 10 (57%) students at risk of not completing come from low–income households. Additionally, more than half (53%) of at-risk students who have a job report working more than 20 hours a week, compared to just one quarter (25%) of on-track students who are working while in school. At-risk students are nearly three times more likely to have transferred schools compared to on-track students and are also more likely to come from diverse backgrounds, including being Hispanic, Black, or part of LGBTQIAA+ communities.
Having a plan to pay for college before enrolling is linked to students being on track to graduate; almost half of on-track students (46%) had a plan to pay for all four years of college compared to a quarter of at-risk students (25%).
“We need to support early college planning, especially for first-generation students and those from underserved communities,” said
Nearly half (48%) of those who did not complete their program of study indicated financial challenges played a role in their decision to leave school. However, almost half of non-completers (45%) have plans to return to college in the next five years and a third (31%) plan to definitely return to college in the next year.
For more information or to access the complete “How America Completes College 2024” report, visit www.salliemae.com.
Ipsos is a global independent market research company ranking third worldwide among research firms. At Ipsos, we are passionately curious about people, markets, brands, and society. We make our changing world easier and faster to navigate and inspire clients to make smarter decisions. We deliver research with security, speed, simplicity, and substance. We believe it’s time to change the game — it’s time for Game Changers! Visit https://www.ipsos.com/en-us to learn more.
Category: Research
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Caron.Jackson@SallieMae.com
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