Paying the Price: College Costs, Financial Aid, and the Betrayal of the American Dream

There is a new economics of college in America. In the past, students and families who worked hard stood a real chance of attaining a college degree, a ticket to the good life. But then the world shifted. Today, the promise of a college degree in exchange for hard work and dedication no longer holds true. Instead, students encounter a price so high that it has changed what it means to attend college. Consider the consequences: By following 3,000 students through college over 6 years, Dr. Goldrick-Rab and her team learned -(1) Students focus on making ends meeting through working multiple jobs and taking on loans they don't feel good about, instead of focusing on learning. (2) Some students face scarcity, going without sufficient food or secure housing, all the while trying to stay in school. (3) Relationships with family are strained as the burden of paying for college harms everyone's budgets. (4) More and more people leave college without a degree and in debt. In public colleges and universities 1 in 3 Pell recipients ends up this way, owing an average of $9,000 each. Dr. Goldrick-Rab talk will focus on her forthcoming text from the University of Chicago Press: Paying the Price: College Costs and the Betrayal of the American Dream.