The Latest College Stats & Trends 2022-2023 Academic Year
Uninformed Families Make Costly Mistakes
College is one of the biggest financial decisions many parents and grandparents of college-bound students will ever make, yet too many uninformed families are making costly mistakes … which will affect their financial security for decades.
It’s impossible today to plan for Retirement without learning how to avoid these college-related problems. LFE’s popular new College Video Library was designed to provide this missing information.
We can help you PREVENT THESE PROBLEMS!
- 8,400 Bachelor degrees have a negative ROI – 2022 Foundation for Research on Equal Opportunity
- College was supposed to close the wealth gap for black Americans: The opposite happened! – The Wall Street Journal
- Private student loan debt now averages $54,921 per borrower – Educationdata.org
- The number of student loan borrowers over age 50 have increased by 512% in the past 14 years – The New Yorker, July 2022
- Those 60 & older are the fastest growing age group for student loan debt – Department of Education 2022
- 7 Million high school grads fail to complete FAFSA last year, leaving $3.7 Billion in unclaimed funds – National College Attainment Network
- 72% of parents state final PLUS loan balance was higher than expected ($103 Billion) – Fidelity Study
- After 10 years, Parent PLUS borrowers owe 55% of their initial balance … and after 20 years, they still owe an astonishing 38%! – 2022 Century Foundation Report
- Amount of student loan debt held by those 60 & older grew 33% in one year! – Fidelity
- More than 50% of grads from 33% of colleges earn LESS than high school graduates
– 2022 Georgetown University Study - The ‘College Disconnect’: 53% of college graduates do not apply for entry-level jobs in their field because they feel unqualified; 42% feel they don’t have the skills employers want – 2022 Harvard Business Review
- Students are training for jobs that no longer exist – NBC News
- Last year, 40% of incoming Freshmen declared a major in one of the STEM fields, yet most are unaware the current STEM drop-out rates can be as high as 50% – Numerous 2022 Studies (Harvard, USC, White House Report, etc.)
- 60% of students take 6 years or more to complete a 4-year degree – 2022 Department of Education
- 64% of students run out of money every semester – Edvisors
- Money is the top reason students drop out of college – 2022 University Professional and Continuing Education Association (UPCEA) Study
- Students without a College Plan spend up to 3.5 times more for college – Sallie Mae