University debt crisis keeps more students away from four-year schools

Prior to the pandemic, college was given to many high school students. Now more and more people are discovering that there are affordable alternatives that may make sense.

21-year-old Kate Lillemoen recently completed a coding bootcamp instead of earning a four-year degree.

Lillemoen is Tech Elevator certified and works as a software engineer in Columbus, Ohio.

“Price was definitely a factor,” Lillemoen said of her decision to quit school and enroll in a 14-week program.

“If I knew what I knew now, I would probably skip college,” she said.

Kate Lillemoen chose to attend a coding bootcamp instead of earning a college degree.

Source: Kate Lillemoen

NS University costs Interest in these programs continues to skyrocket spike During the coronavirus crisis.At the same time, larger employers such as Apple, Bank of America, Google, IBM, etc. Does not require a college degree..

“Before the pandemic, this was a pretty niche market,” said Stride Inc, the parent company of Tech Elevator. Said James Rhyu, CEO of.

“In the last few years, we have expanded our offerings,” Ryu said. “We really believe that the skills that many workforces inevitably need do not presuppose a four-year degree.

“University will be an impractical option, partly because of economics,” he added.

Some of Stride’s products start at $ 1,000, but TechElevator’s full-time 14-week program costs $ 15,950.

Technical jobs are one of the more paid positions, even at the entry level, according to Glassdoor data.

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A recent survey of high school students found that the chances of attending a four-year school dropped by nearly 20% in less than a year. It fell from 71% to 53%, according to the ECMC Group, a non-profit organization aimed at helping student borrowers.

Almost one-third of high school students are less likely to attend a four-year college due to the economic impact of a pandemic, the report said. Students said they were more focused on career training and post-university employment.

More than half say they can achieve professional success in college within three years, and only a quarter believe that a four-year degree is the only way to a good job. The ECMC Group polled more than 1,000 high school students three times last year.

Catherine Star, a school counselor at Flagstaff, Arizona, said:

A minister who has worked at Flagstaff High School for 16 years said that about half of the students will go on to four-year college after graduation. Currently, that number has dropped from 35% to 40%. More and more people are choosing community colleges, colleges, or accreditation programs.

“Last year, everything in their world changed completely,” said the minister. “The pandemic has changed their priorities.”

According to another survey by citizens, the majority of both high school students and current college students said that concerns about the affordability of colleges influenced their plans for college admission after graduating from high school and this fall. parents.

There has been a major change in students choosing the traditional four-year pass.

Rev. Catherine

School counselor

Christine Roberts, Head of Student Lending at Citizens, said:

Overall, undergraduate enrollment fell by more than 4% last year. National Student Clearinghouse Research Center, Autumn freshman class occupies the biggest drop, 13% sink From a year ago.

This year, 63% of parents have their own children Plans after graduating from high school According to another report from Discover Student Loans, it has returned to its pre-pandemic state.

However, most people who have changed their college plans say they go to a school closer to their home, go to an online college, or go to a cheaper alternative.

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University debt crisis keeps more students away from four-year schools

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