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Drowning in Debt. Comparing student debt among area colleges

Courtesy of Pixabay

Courtesy of Pixabay

Half of MCC students are considered low-income. Those students can receive up to a 62 percent discount on tuition, and still accrue an average of 7000 dollars in debt. And MCC is one of the most affordable schools in our area.

   In comparison, if a low-income student were to choose Bryant and Stratton College they can expect, on average, to walk away with around 9500 dollars in debt. Although over 78 percent of Bryant and Stratton’s students are considered low-income the school only reduces intuition up to 27 percent for poorer students.

   Likewise, if a student were to choose the Finger Lakes Community College (FLCC), they can expect to pay more than if they choose MCC. Pell grant recipients at FLCC, on average, 7845 dollars in debt. FLCC only gives a 48 percent discount on tuition to the 39 percent of their low-income students.

   In our area, the only 2-year school whose low-income students incur less debt than MCC students are Genesee Community College (GCC) students. GCC offers low-income students up to a 63 percent discount on tuition, and the average Pell grant recipients only accrue an average of 5975 dollars in debt.

   As the costs of higher education rise, people with low-incomes are being left with too much to debt to handle. Measured by Pell grant recipients  — students from families that make less than 30,000 dollars a year — data from the U.S. Department of Education shows exactly how much federal student loan debt college is accrued by low-income students.

   Seven out of ten public college students will leave school with some form of student debt. Currently, USDebtClock.org reports that student debt nationwide stands over 1.4 trillion dollars and growing rapidly. Although college costs affect everyone, the strain on low-income students and families is significant.

   Student debt is a growing problem that affects the way people decide to educate themselves. Decisions over school choices, courses of study, and credits per semester may be affected; these choices may be determined more by a student’s potential debt to income ratio over the other interest.

   To learn more about student debt you can visit www.debt.org or your financial aid department at 585-292-2050.

 

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