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ADRIAN, Mich. (AP) — When it came time to pick a college, Abby Slusher leaned toward a private school near her southeastern Michigan home for the small campus and class sizes. Her mother pushed Adrian College for another reason: A new program guaranteeing every graduate would make more than $37,000 or get some or all student loans reimbursed.
Hate to cast shade on what I would like to believe is a novel concept, but with tuition and room/board being around $40,000 at this school, unless students are getting a significant amount of non-loan aid, $37,000 a year is kind of a low bar.
If you are saying that a graduate from an expensive school should make more money simply because their school is expensive, that is generally not so for a lot of career fields, like the social work student mentioned in the blurb. I think it is reasonable thresh hold, and something they didn't have to do at all.
If you are saying that a graduate from an expensive school should make more money simply because their school is expensive, that is generally not so for a lot of career fields, like the social work student mentioned in the blurb. I think it is reasonable thresh hold, and something they didn't have to do at all.
Oh, no, I'm not saying that they should be paid more because their school costs more. I'm saying that maybe some students need to rethink the economics of attending such a school, particularly if their job prospects are in a field that doesn't pay more than $35,000-40,000 a year. And while I'm sure that Adrian College is fine academically, I'm not sure that any school is really worth that price except maybe a few dozen of the most elite private universities.
Further, you say that the school didn't have to do this, but I disagree. Lots of schools like Adrian (expensive private schools) are finding that they're continuously raising tuition to levels that make them less and less attractive which means that they have to come up with something else to make them competitive with other similar schools. My alma mater, University of Dayton ironically enough, also has incredibly expensive tuition, and they came out with a tuition guarantee last year that essentially means that the tuition that a student pays during their freshman year is what they'll pay each year during the rest of their college career. It's kind of a sign of the times--these types of schools know that they must raise tuition, and in doing so they're going to cause sticker shock for many families and potential students, so they come up with some sort of a deal (gimmick, IMO) to defray costs. Or at least make it look like they're defraying costs.
Gotcha. I agree with what you are saying. I graduated from UD as well. I believe The Chronicle of Higher Ed recently did a piece on UD's guaranteed tuition. I have no idea why people pay that kind of money to study social work, early childhood ed, etc.
Isn't this penalizing students who have loans but make more than $37,000?
Well, er, yes. Seems easily gameable as well. Go make peanuts teaching English abroad for a couple of years; have your loans repaid by virtue of your poverty.
Well, er, yes. Seems easily gameable as well. Go make peanuts teaching English abroad for a couple of years; have your loans repaid by virtue of your poverty.
I doubt they pay the loans over just a couple of years. They are betting that the average student who has a job opportunity that pays more will take it.
If a student takes a very low-paying job just to pay off loans in preference to a higher paying job where they could both pay their loans and bank some money, well, they deserve exactly what they get.
I doubt they pay the loans over just a couple of years.
You're correct. The AdrianPlus web page specifies:
"Support will continue until the individual’s income rises to a level of financial sufficiency or until loans are completely paid off. Qualifying students will receive an Award Letter from Adrian specifying the details of how AdrianPlus works."
So you only get support for the period of time you remain under the threshold, the level of support is unspecified, and the other fine print will be provided to you only when you are deemed to qualify.
It's not particularly surprising they would put some restrictions on the program, but at least from what they've released I'm not sure how to gauge the value.
I also agree with Clevelander17, this offer is happening in no small part because Adrian is looking around their sector and seeing the potential for enrollment declines. In any other sector this would be comparable to adding a warranty to your product as a way to maintain/boost sales.
Our granddaughter will be going to Adrian College in the Fall, 2015. Our daughter an sil was very impressed with the quality and "family" atmosphere of the school. Although she did receive scholarships for Ice Skating, they will have to take out some student loans. Adrian was one in five schools that she was accepted to & they offered the most tuition money. Our daughter liked the sincerity that the Administration showed while sitting on meetings that took place between them, explaining the next 4 yrs. in detail, which includes an open door policy with teachers and administrators. She is very happy to become part of the Adrian Curriculum.
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