As student loans, the cost of college tuition, and even value of higher education remain at the forefront of public discussion, one thing remains true: Affordability is central to adult learners' academic success, and money is one of the primary reasons why adult learners stop out before they graduate. How can postsecondary institutions, employers, and policymakers address this issue? This report takes a deep dive into the experiences of adult learners as they finance their education. It gives voice to adult learners and how their previous experiences with postsecondary financing help shape de
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As student loans, the cost of college tuition, and even value of higher education remain at the forefront of public discussion, one thing remains true: Affordability is central to adult learners' academic success, and money is one of the primary reasons why adult learners stop out before they graduate. How can postsecondary institutions, employers, and policymakers address this issue? This report takes a deep dive into the experiences of adult learners as they finance their education. It gives voice to adult learners and how their previous experiences with postsecondary financing help shape decisions on their current and future studies. The report offers recommendations for institutions, policymakers and employers on how to better support adult learners in their pursuit of postsecondary education.
Key findings include: (1) Adult learners' perspectives on financing their education are often formed by their previous experiences in which they may have maxed out their available financial aid without ending up with a credential of value - or a credential of any kind. These experiences, particularly if they have led to substantial loan debt, can engender hesitation, concern, or skepticism over the advice they receive as a student today; (2) Respondents with the highest average loan debt in our survey are the ones who can least afford it; (3) Adult learners who stop out mostly do so for nonacademic reasons. Nearly 50 per cent of the survey respondents had stopped out for a period of time, and they were far more likely to cite personal/health, time, or monetary reasons than academic reasons; and (4) Employer tuition assistance (TAP) is hugely beneficial - those who received it are among the most confident in their ability to pay for their education. But it may be that some adult learners do not realize that their employer offers it, or whether they would be eligible.
Edited excerpt from publisher's website.
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