More College Dropouts Expected in Tennessee as $577M Scholarship Aid Fall Short
Most scholarships in Tennessee only cover tuition, leaving students to manage rising living costs.
ByYesterday, new figures indicated that the freshman enrollment rate has fallen by over 6% due to increasing costs of studying at college.
In Tennessee, tuition fee is also a problem, along with other expenses. Despite state and federal student aid, affordability of college remains one of the biggest challenges for many tertiary students.
As shared by Public News Service, a recent report from The Sycamore Institute stated that financial barriers often lead to students not completing their degrees. In the school year 2023-2024, the Tennessee local government has handed out nearly $577 million into 16 scholarship programs for students. This was available in public and select private two- and four-year colleges. But these are not enough and students still have to cope with the complete cost that comes with a college education.
One of the significant challenges that the students face is living expenses, as most scholarships do not cover them. Brian Straessle, executive director of The Sycamore Institute, said that most scholarships are only for tuition and fees, meaning that the students have to fend for themselves when these costs are rising in the areas of housing, food, and transportation. Sometimes, the cost-of-living challenges make some of the students quit or force them to take on extra jobs that may impact their academic performance.
Student Aid in Tennessee Not Enough
The HOPE Scholarship and Tennessee Promise are among the most generous forms of scholarships, but not without limitations, per Dresden High School. These "last-dollar scholarships" mean that there is often a shortfall in paying for necessities, which means more stress for students balancing academics and personal responsibilities.
Tuition in Tennessee's institutions varies, with public two-year colleges averaging over $21,000 annually and private four-year colleges averaging over $44,000 per year. Such costs reflect that although the state tries to fund gaps, it still pressures students with high tuition charges. Scholarships are the key to many students' support systems, but many students are very overwhelmed with navigating this system of scholarship assistance.
While the costs are a problem, the long-term benefits of a college degree far outweigh them. Straessle noted that graduates tend to have better job opportunities, higher lifetime earnings, and greater overall well-being. In Tennessee, for example, an estimated 59% of "good jobs" in 2021 required a bachelor's degree, a percentage expected to rise to 66% by 2031.