College Trends and Costs

There are some staggering trends in higher education:

  • 1 out of 3 college students leave the college where they started
  • 6 out of 10 students change their majors before graduating
  • 5 out of 10 college students require five or more years to earn their degree
  • 1 out of 3 college graduates leave their field of study after working in it only one year – it rapidly increases each subsequent year
  • Over half choose a major based on earning potential, family demands, or time pressure – not based on what really interests or motivates them
  • Top two reasons for switching careers are change in interest or money

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* Assuming a 5% increase per year

Sources: Annual Survey of Colleges. Trends in College Pricing 2003 The College Board, New York, NY
Nellie Mae: Robert Manning et al, 2002 Survey. National Association of Colleges and Employers
Monster.com survey: Investment Company Institute