Rising College Costs Drive Transfers
The continuing rise in the cost of higher education is driving one of the most substantial changes in how students are earning bachelor's degrees in decades. The National Center for Public Policy and Higher Education reported that college tuition and fees have increased 439 percent from 1982 to 2007 while median family income rose only 147 percent in the same years, not accounting for inflation. Due to these increasingly out-of-reach tuition costs, students are looking for the most cost-effective way to earn their bachelor's degree. For many, this means completing two years at a community college and then transferring to a four-year school to finish their degree.
Tuition at community colleges is about half that of the average four-year public university. So, rather than rack up huge debt to earn a degree, this two-four transfer scenario is becoming a very popular track for many.
Savings for Two-four Transfer Students
According to the College Board, in recent years, the average yearly tuition for a public two-year institution was around $2500 whereas the average for public four-year schools was over $7000. The average student who follows the two-four transfer plan at public institutions would save $9000 or more compared to completing the entire four years at a public university. The potential downside of this strategy is that students who enter a two-year school intending to transfer and earn bachelor's degrees, have significantly lower graduation rates than students who start at four-year schools.
Re-entry Transfer Students
Rising college costs also mean more students may not complete their degrees as they become overwhelmed by the financial burden of paying for or borrowing for college. But, many of these students return to school at some later point in their lives once they've become more financially stable or realize their long-term goals can be better attained by completing their degree. In tough economic times, this scenario is even more common with more students quitting school due to family financial difficulties and more students returning to school after they've lost a job. Many re-entry students will choose to attend a community college or online school, often part-time to minimize costs and maintain flexibility to work or raise a family.
Swirling Transfer Students
Another result of higher tuition costs is the increase in students attending multiple schools to earn their degree, a practice known as swirling. Swirling has many variations but a large number of students are driven by the desire to keep college costs down. Some students take a class at a community college or online school at the same time they are attending another four-year school. This enables them to earn some credits in a less expensive environment. Other students may attend various schools part-time as they find they have the time and money to work towards their degree. The flexibility of online classes, which may cost less than other options, are popular with swirling students who are often juggling work or family responsibilities while attending school. Swirling students need to be diligent about making sure all their completed courses will be accepted as transfer credits into the school where they intend to earn their degree.
Increases in Financial Aid
The federal government has recently increased the amount of financial aid available to college students and has also increased tax credits amounts and income limits. So, despite increasing tuition costs, increased financial help from the federal government will help cost-conscious transfer students.
Fixed Tuition
Some universities are experimenting with fixed tuition policies that are applicable to future transfer students as well as freshman students. At the University of Texas at Dallas, community college students who plan to transfer to that school are allowed to lock in their tuition rate for four years. This motivates students to complete their degree within those four years and helps with financial planning. The University of Georgia system has also offered fixed tuition for four years to students who transfer between schools within the system.
Resources
College Board: Trends in College Pricing 2009.
The University of Texas at Dallas: Guaranteed Tuition Rate Plan.