Hopeful students can now feel a bit of relief with a new offer to freeze tuition rates at several private American universities. Student loans can be a frightening venture for many young people, and school administrators are discovering that a big reason why students leave school is often because of money. By offering people steady costs, the hope is that they will more likely stay in school (which will lead to higher graduation rates for universities).
Several American universities and colleges involved are Urbana University (in Ohio), St. Mary-of-the-Woods College (in Indiana), and Mount Holyoke College (in Massachusetts). Mount Holyoke College is currently keeping its total cost at a steady US $41,456 for a school year. The President of the college, Lynn Pasquerella, said “we recognize that the US model for higher education is not sustainable, so we can’t continue to raise tuition and have burgeoning loan burdens and have job prospects be uncertain for students.”
According to CNNMoney, college seniors now graduate with $27,000 (average) in debt. The amount of average debt changes from state to state. In addition, the total obviously depends on where students go to school, scholarships, whether or not they live at home, and if they work. Students with hopeful futures may feel overwhelmed with the prospect of borrowing money to get a degree and then finding a job. But, with these innovative plans to freeze tuition totals, hopefully students’ prospects will be a bit brighter in the years ahead.
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