As the economy continues to suffer and unemployment rates stay high, paying for tuition is becoming harder and harder. It doesn’t help that the average college tuition is still continuing to increase!
A study entitled, “With Their Whole Lives Ahead of Them,” surveyed 614, 22-30 years old that were unable to complete a degree but had attended school. The study found that six out of every ten participants were unable to finish due to their inability to balance academics with work.
Due to the recession, it is becoming harder for families to support there children through school. To make matters worse, scholarships, financial aid, loans, and grants are becoming harder to receive.
M.J. Alhabeeb, Jr. is currently facing troubles like these. Alhabeeb, Jr. began attending the University of California, Los Angeles to study film in the fall of 2008 with a student loan of $65,000 for the 2008-09 academic year. However, when he returned for his sophomore year, the university told him they weren’t going to give him any money.
Alhabeeb, Jr. has been forced to take on a job and cut down his classes to two a semester so he can pay for school. Unfortunately, situations like these are occurring all over the United States.
In Alhabeeb, Jr.’s case, he was informed of his misfortune at the beginning of a semester before class registration. Some individuals are finding themselves in an even tougher spot. Currently, most college institutions do not offer tuition reimbursement unless the request is submitted prior to the start of classes or the student is unable to attend for medical reasons. Due to this, if you were to find yourself in a situation like Alhabeeb’s mid semester, you would still be liable for the cost of classes regardless if you are unable to attend.
If you are a parent paying for your child or a student paying your own way, insuring your investment is a great way to protect yourself. If you do find yourself in financial trouble, you aren’t going to want to deal with paying for an education you are no longer receiving! For an affordable rate, you can get up to $50,000 in tuition insurance that will cover you if something does come up and you are no longer able to attend. This insurance is offered at any school
and is sponsored by College Parents of America!