Over One Quarter of Community College Students in Mississippi Need to Go Into Debt to Get an Education
February 22nd, 2011
A previous article on student loan debt encouraged a deeper look at the volume of Mississippi community college students that need the financial support of federal student loans to pay for school. In 2008-2009, 21,113 community college students in Mississippi borrowed federal student loans. The 21,113 students taking out loans represent 28.9 percent of all community college students in Mississippi.
In the wake of rising enrollment and constrained state support, many colleges have had to raise tuition to cover the cost of instruction and operations. Average tuition at all of the state’s community colleges rose 19.7 percent from 2008-2009 to 2010-20011.¹ The rise in tuition indicates more students may require larger loans to cover the cost of pursuing a postsecondary degree. State and national leaders face the challenge of keeping tuition affordable and providing sufficient financial aid to students most in need.
In 2008-2009, students at Mississippi’s community colleges took out $90.2 million in student loans. On average, students borrowed $4,272 per year through student loans for expenses associated with attending classes. The chart below lists average federal student loan aid by community college.
Click to enlarge
Average Federal Student Loan Aid Received by Community College, 2008-09
Postsecondary education remains a critical avenue for moving toward economic security in Mississippi. As decisions are made for the Fiscal Year (FY) 2011-2012 budget year, the data on student loans is a reminder that funding of higher education not only affects community colleges but also the debt burden students may face as they seek to advance to quality careers and self-sufficiency through higher education. A balanced approach that includes raising revenue is required to allow the state to maintain its vital investments in higher education and to keep a community college education affordable for all Mississippians.
Source:
United States Department of Education. National Center for Education Statistics. IPEDS Data Center.
Author:
Sarah Welker, Policy Analyst
¹State Board for Community and Junior Colleges. Finance and Administration Division. Average Tuition and Fees for In-state Residents.
Note: Mississippi Delta, Coahoma, and Southwest Mississippi Community Colleges each did not have any federal student loans reported in 2008-2009.
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