Do We Over-Invest in Non-Traditional Students? asks Richard Vedder, director of the Center for College Affordability and Productivity, on Minding the Campus. Older and part-time students are the “new majority” on college campuses, but their completion rates are low, reports the National Student Clearinghouse.
Two-thirds of full-time traditional-age students who started in 2007 — but only half of those 25 and older — earned a degree by 2013. Overall, 86 percent of full-time four-year students graduate within six years compared to 20 percent of part-time students. More than two-thirds of part-time students entering in 2007 not only had no degree by 2013, but were not in school.
. . . perhaps we should reduce subsidies for part-time or older students. Younger students have more than a 40-year work lifetime expectancy after graduation; older students often have 20 years or less. The economic and noneconomic benefits of a degree are far smaller for older students because they enjoy them for fewer years —and there is a far greater risk they won’t graduate. Encouraging older students to attend school part-time strikes me as questionable, something pushed by colleges facing enrollment shortfalls desperate for more bodies in the classroom.
At community colleges, the low costs are “considerably offset” by the greater non-completion risk, Vedder writes. Starting at a community college and transferring “works for many and saves lots of money.” But the reality is that many community college students never graduate.