College students are spending just $484 on their course materials, according to Student Watch’s Attitudes and Behaviors toward Course Materials: 2017-2018 Report. In comparison, $579 was spent in the previous academic year. While, an increasing number of students are using the latest technology to study, the $30,000 increase in tuition costs over the past three decades plays a significant role in how much cash students can afford to spend on reading literature and similar study materials.
The true cost of college
According to the College Board, the average cost of tuition in 2017 was $34,740. Meanwhile, the Institute for College Access & Success states that seven out of every 10 college seniors graduate with debt, with the typical figure coming in at $29,650 per student. Refinancing your student loans is a great way to keep track of your finances when you’re studying or once you’ve graduated. By refinancing, your repayment terms can be adjusted, making it easier for you to pay back what you owe. And this debt is worth it according to 90% of respondents to Sallie Mae’s “How America Values College”survey. No doubt, this belief stems from the U.S Census revealing that individuals with a college degree earn almost $30,000 more per year than those with a high school diploma.
Making cut backs
Nicole Allen from the Scholarly Publishing and Academic Resources Coalition states that “Students are still struggling with high costs.” As a result, students are making cutbacks wherever possible, including on their much-needed educational resources. 56% of students claim they delay obtaining course materials until the first week of college. Meanwhile, during the spring 2018 semester, 44% of college students rented their course materials, while, 12% resorted to borrowing them.
The real risk to students
The Student Watch study claims that an increasing number of students are utilizing free course materials rather than purchasing them. However, the real concern revolves around the delay in students obtaining their course materials, says Phil Hill, the co-founder of Mindwires Consulting and co-publisher of the e-Literate blog. Without these resources students aren’t learning and thus the risk of them falling behind is evident.
As college tuition fees climb, students are spending less on purchasing the materials they require to successfully complete their courses. As a result, students have to obtain their resources in any way possible and this poses a threat to their further education.