Wednesday, September 16, 2015

Money can stop minority students

With some of our national "leaders" dangling free tuition in an election cycle, you have to remember that most schools are not free now.

A new study of 500 black and Latino students confirmed that many have money problems after enrolling in college.

Univ of Chicago researchers polled students in the fall, winter and spring of freshman year.
At each time point, 35% reported difficulty in paying bills, upset over not enough money, and concern that they would not make it through to a degree.

The distressed students fell in three groups.

--Students who knew things would have to come out of pocket, but hoped they would find a way.

--Students who thought they were covered, but the amount of aid was lower than expected or they made housing or other changes that left a deficit.

--Those with limited financial knowledge who believed financial aid would cover it all.

Half of those who started freshman year with a high level of distress continued in that state all year.

Half of those who came back freshman year continued to be in a high level of distress.

The lowest level of distress was from not having private loans, just grants and scholarships.

These students will be follwed for six years, whether or not they stay in school.

The researchers also recommended schools find and reach out to the distressed students for more counseling. The way of reaching out would be to ask three questions: How much difficulty were they having paying bills, were they worried, and how concerned were they that they could not finish their degree.

Hate to hear this.

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