Virginia Capitol Connections Winter 2019

Pathways to a College Degree— More Confusing and Complex—Than Ever Before By Former Senator Walter A. Stosch

“The two most important days in your life are the day you are born and the day you find out why.” Mark Twain He also said, “Life would be infinitely happier if we could only be born at the age of eighty and gradually approach eighteen.” So, the challenge to young people after high school is to figure out why they were born in a world that requires having tried a job for years before you know if it is a good life choice. And, then face the added

no longer enough, as most future jobs will require more than a high school education. A college degree or career credentials are thought to be tickets to an even better job. Now College is More Important— But More Expensive—Than Ever Before Families of means have choices where their children can attend college and usually can afford the costs. But, creating a clear path for low income and middle class students and ensuring that they have an equal opportunity for economic prosperity means opening the doors of higher education in more creative ways than ever. As tuition continues to rise, putting college out of reach for the very families that need it most, financing a post-secondary education is an all important factor in choosing a college and area of study. A college education is a major investment, so what to study to prepare for a meaningful and financially rewarding career often becomes as important as choice of college or university. In fact, as more and more students graduate with bachelor’s degrees yet are unable to obtain jobs, finding the least cost/least debt option and highest demand field of study becomes a much higher priority for many students than where to attend. Since 1985, tuition has risen five times faster than the consumer price index of all goods and services. At the same time, aggregate student debt in total has overtaken all credit card debt, approximating $30,000 average per student. The challenge, then, is how to provide every student access to an affordable and high-quality postsecondary education that is aligned with where the jobs are while incurring the least amount of debt burden to be paid off in the first 10-15 years of work life. Community Colleges offer a good way out of the dilemma If families can afford to pay $25,000 to $60,000 per year or more for student education, then cost and incurring substantial debt may not be an obstacle, and many choices are available. But to most families, such an investment will consume a substantial portion of disposable family income and will often the four-year education costs will be as much as the cost of a “first” home. There is an alternative. Because of empirical evidence of tracking students who attend a community college for the first two years and then transfer to a four-year university, the community college graduates perform as well, if not slightly better, than entering freshmen in the same university. The quality of the education, especially in core subjects of the first two years, is quite comparable. The program is so well accepted by major universities, that an increasing number of students admitted each year are transfer students. By completing the final two years at a four-year university, graduates seem to be equally competitive and successful in the job market. Students can use the first two years - the freshman and sophomore years—at the community college to find a good pathway at a lower price. With Virginia’s Guaranteed Admissions Agreements between all community colleges and over 20 four-year universities, students take the same equivalent courses and transfer those credits. In addition to lower overall tuition and fee costs of $8,800, the possibility of saving on room and board averaging $10,000 per year, as well as earning a state transfer grant of up to $6,000 for the junior and senior years, means substantial student and family savings for each college bound student in the family. Those kinds of things are distinct advantages of community colleges.With this transfer process, students earn a bachelor’s degree on a diploma from a four-year school. And it does not say, “Transferred from a community college to this four year

realization that the best way to predict the future is to create it, not just with a college degree or technical certification, but with a new a new concept, Lifelong learning . Creating the future, where the world is a whole lot less predictable than it was, will require smarter planning and personal invention and recognizing how fast the work world is changing. The technical skills I learned in college to prepare me for a career as a CPA have dramatically changed or been replaced. But, such soft skills as self-confidence and compassion, work ethic, ability to communicate, collaboration, and critical thinking/problem solving, endure. The truth is both soft and technical skills are required for success. For students preparing for education after high school, they are increasingly less prepared for the challenges ahead and are thrown into a new complex world of college applications, financial aid, conflicting advice from those whose advice is especially influential, and the many unanswered questions in the new-found freedom that comes with graduating from high school. And, the likelihood of an available seat plus the costs of a four-year college education are beyond reach of many families. What do I want to be? Where can I go to get prepared? How can I pay for it? Who can help? What will I earn in my career? These are some of the questions facing new high school graduates and their families. Some decisions can be evaluated with a high degree of confidence. Others require a new approach to analysis not normally employed by an 18-year-old to invent the rest of their lives. Fortunately, young people have the benefit of technological advances in information and ability to foresee their future unlike any generation. For example, information on virtually any college, program or career goal is readily available as well as school counselors and advisors to enable them to invent their future. The breakdown comes if they fail to match education goals with future income goals and fail to compare the costs of each education choice to ability to pay. Furthermore, students are overlooking the experience of recent graduates who earn degrees but still cannot find a job. This unemployment or underemployment and often having succumbed to the ease of using debt during college years results in penalizing their financial standing for years into the future because of bad choices. Often the young students end up with mortgages on their future income without a house. In my generation, times were much simpler. Even though college was inexpensive, only a few wealthy families could still afford to pay for college. Many young high school graduates entered the workforce directly from high school. Yet others, especially young men, knew the military was a strong likelihood anyway so many took that route (my route) and earned a form of college financial aid, the G.I. Bill. Those bold enough to attend college still had to “work their way through.” Regardless of background and financial support, most students want to go to college if they can find a way and major in something that will allow them to make a good living for themselves and their future family. The difference in generations is that a high school diploma is

V irginia C apitol C onnections , W inter 2019

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