Albert Einstein said, "The value of a college education is not the learning of many facts but the training of the mind to think."
Today, though, the value of college is often accompanied by crushing debt. College freshmen entering four-year state-supported universities in fall 2007 paid 31% more in tuition, fees and lodging than students paid in 2003. It’s not surprising then that, from 2007 to 2012, student loan balances grew by 75%, according to a TransUnion study. A recently released infographic provides an overview of the financial realities of financing a college education today, as well as the increasing costs.
Meanwhile, only 54 of every 100 students at two- and four-year universities earn a degree within six years. So, for many students who take on educational debt, the promised payoff of greater earning potential is not realized – or at least not within six years.
Through both the College Readiness and Success Initiative and a range of scholarship programs, CICF is working to make college diplomas both a possibility and a positive financial decision for local youth. The College Readiness and Success initiative helps students prepare for and identify postsecondary options that work for them, as well as financial assistance to make college affordable. Meanwhile, both donor-designated and CICF-managed scholarship programs provide necessary financial resources to central Indiana teens and adults who are committed to earning degrees.