CLEVELAND, Ohio – Nearly half of community college students say they might drop out because they don’t have enough money, according to a new report.
“Making sure students can pay their tuition — and pay for housing, food, and other basic needs — must be an integral part of the college completion agenda,” said Evelyn Waiwaiole, director of the Center for Community College Student Engagement, which released “Making Ends Meet: The Role of Community Colleges in Student Financial Health” on Tuesday.
Data used in the report were collected from almost 100,000 community college students at 177 schools.
See the report below or click here if on a mobile device.
Here are some results:
- 47 percent say lack of finances is an issue that could cause them to withdraw.
- 39 percent receive federal Pell Grants
- 40 percent who receive federal grants also need student loans to make ends meet.
- 30 percent work more than 30 hours a week; 19 percent work 20 to 30 hours.
- Many students who work say they are living paycheck to paycheck, especially those who have children.
- 91 percent report needing information about financial assistance. Of those, 27 percent said the information they received from their college was inadequate.
- 83 percent say they have the skills to manage their own finances, yet about half report struggling to keep up with bills.
- Nearly 60 percent would have trouble getting $500 or less (from cash, credit, family/friends) to meet an unexpected need.
“Students’ views of their own financial circumstances are complex and murky,” Waiwaiole said in the statement. “Community colleges are well situated to help students better understand their financial health, provide resources, and assist in managing their resources to ensure that they can persist and be successful at the institution.”
The University of Texas’ College of Education established the center, which is funded by foundation grants, as the umbrella organization for survey research, focus group work, and related services for community and technical colleges.
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