New Research Report From Sallie Mae and Ipsos Examines Obstacles to College Completion
June 15 2022 - 11:01AM
Business Wire
“How America Completes College” Shows Change
in Focus, Motivation, or Life Change, Financial Concerns, and
Mental Health Challenges Are Top Reasons Students Leave College
Before Graduating
Students who attended college but did not complete are more
likely to be first-generation college students, those from diverse
backgrounds, and from lower-income households, according to “How
America Completes College,” a new national study from Sallie Mae
and Ipsos. Roughly 4 in 10 (40%) students who did not complete
their program of study cited change in focus, motivation, or a life
change, nearly 2 in 10 (19%) cited financial concerns, and 14%
reported mental health challenges as the top reasons for leaving
college early, according to the study.
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Sallie Mae’s “How America Completes College” explores the
factors and considerations that impact a student’s journey from
accessing higher education to completing their degree or program.
The study compares the perceptions of higher education among
completers: young adults ages 18 to 30 who have completed a 2- or
4-year degree, and non-completers: young adults ages 18 to 30 who
started a 2- or 4-year degree but withdrew before completing the
program.
“We often talk about the advantages of having a college degree,
but it’s important to look at the things that will help students
make it to that finish line,” said Jennifer Berg, research
director, Ipsos. “The belief that the college degree is going to
help them be more successful seems to be an important driver and
when they lose sight of that goal they tend to fall off
course.”
Key findings of the “How America Completes College” study
include:
- Three-quarters of completers (74%) decided to attend college
before reaching high school while more than half (55%) of
non-completers decided to pursue higher education after they
started high school; 34% of non-completers decided to attend
college during or after their junior year of high school.
- Four in ten completers (42%) reported having a plan to pay for
college compared to 26% of non-completers.
- While 12% of non-completers have definite plans to return to
college within the next year, more than 8 in 10 (82%) are open to
continuing their college education at some point in the
future.
- Less than half of non-completers (47%) are satisfied with their
jobs.
“We know college completion, not just college access, is key to
success. Understanding why some students leave college before
completing their education can help educators, communities, and
policymakers better support those students and increase graduation
rates,” said Nicolas Jafarieh, executive vice president, Sallie
Mae. “It’s clear from this study we need to ensure planning
resources and financial aid are reaching those families who need
support the most – including first generation college students and
those from underserved communities. Families should also be exposed
early to options other than the traditional college
experience.”
Completers (90%) and non-completers (84%) agree that traditional
college may not be right for everyone. Expanding conversations with
families at the high school level to include options such as trade
schools, professional boot camps, and other career-focused
education could lead to more successful outcomes.
For more information or to access the complete “How America
Completes College” report, visit www.salliemae.com.
Sallie Mae (Nasdaq: SLM) believes education and life-long
learning, in all forms, help people achieve great things. As the
leader in private student lending, we provide financing and
know-how to support access to college and offer products and
resources to help customers make new goals and experiences, beyond
college, happen. Learn more at SallieMae.com. Commonly known as
Sallie Mae, SLM Corporation and its subsidiaries are not sponsored
by or agencies of the United States of America.
Ipsos is a global independent market research company
ranking third worldwide among research firms. At Ipsos, we are
passionately curious about people, markets, brands, and society. We
make our changing world easier and faster to navigate and inspire
clients to make smarter decisions. We deliver research with
security, speed, simplicity, and substance. We believe it’s time to
change the game — it’s time for Game Changers! Visit
https://www.ipsos.com/en-us to learn more.
Category: Research
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Jonathan Starkey 302.563.6527 Jonathan.Starkey@SallieMae.com
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