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Some of the students who enroll for graduate program end up giving up their vision of graduating before completion. Several challenges result in such decisions key among them the high tuition fees charged in colleges. Most students, especially those coming from vulnerable groups, end up lacking fees at some point after enrolling. There are also other causes such as work-study conflicts where people enrolled had to make hard choices on whether to prioritize their work or education. However, the costs of college dropout are high on the student’s later life and achievements. Approximately one-third of the students who enroll for college graduate program never see the completion of their courses in the U.S after the four years (Dwyer, Hodson and McCloud 46). College dropout has a potential negative impact on a student’s future, financial stability and ability to engage in meaningful skilled labor that has higher pay.
College dropout hinders an individual from acquiring the specialized skills which attract better pay and remuneration as compared to non-skilled labor. The question of whether one holds a degree or not is an excellent determinant of individual ability to pursue a particular career. Highly skilled laborers such as doctors, technology experts, engineers, among other careers, attract better pay compared to career paths that require little training like technicians. The available statistics indicate that a graduate drop out is likely to get 32 percent less pay as compared to graduate with a bachelor’s degree. Lack of specialized skills negatively affects the amount of pay one is likely to receive from work done in the future (Chen and DesJardins 192). It will also have a negative impact on the financial stability of the college dropout family, especially when it comes to meeting their bills, including the fees for their kids.
Dropping out of college increases a person’s chances of unemployment or limited job opportunities. Several jobs require a minimum qualification of a degree. These jobs are out of reach to the students who dropped out before completing their degree program. The college dropout student will find it difficult securing meaningful employment when most of the advertised jobs with good pay are out of reach. Lack of specialized skills from the college level cuts off an individual career path and expose them to the vulnerability of joblessness. The unemployment caused financial challenges in their later life especially when an individual is raising a family and want to make savings to secure a mortgage and other assets that can help meet basic family needs (Faircloth and Tippeconnic 47). When retrenchment occurs in several firms, most people who are vulnerable to job loss are the ones with less skills in the organization. It happens that the more skilled a person becomes, the lesser the chances of losing a job in the industry where they work.
College education requires a lot of investment, perhaps through a borrowed education loan. College dropout suffers from wasted investment, some from family support through contributions. It may soon turn out as frustration, especially when such students are required to repay huge loans plus interests. The consequences of dropping out are that a student may have pilled such huge loans, especially those who have spent more years in school with no value for a loan after failing to secure the degree program. There is no return on investing in education when the fruits of earning a better job that can improve the financial stability of individual loan repayment are thwarted (Dwyer, Hodson and McCloud 38).
College dropout may also result in strained family relationships. A lot of investment goes to funding education, and some family members may feel their money wasted after the student fail to graduate. The family is a great social pillar and contributes to an individual emotional and psychological stability. The college dropout may suffer from a feeling of rejection, despair, and lack of social support from the significant others. Stress and depression may arise from such incongruence, especially when it involves pressure from the parents to a child. Feelings of failure in life and stigma may also originate from an individual inability to raise tuition fees. When the drop out experiences such mental diseases, the chances of securing meaning employment reduces. It also affects their social life, such as the ability to engage in meaningful social relationships in later stages of family life (Chen and DesJardins 182).
College dropout cases have risen, perhaps indicating the problems with high school fees which makes it difficult for the vulnerable and underprivileged families. Failure to attain a degree from the college educations exposes the individual to more vulnerabilities of financial instability and the inability to secure a skilled job with better pay. They lack specialized skills highly rewarded in the industry through better remuneration. Dropping out of the college leaves the student more vulnerable to heavy loan and financial burdens with no empowerment that can help access better jobs to pay such loans. It strains relationships in a family, especially where parents and significant others contributed their investment to student education. College dropout also reduces the chances of employment for an individual by limiting the spheres and cadres where they can obtain meaningful employment.
Chen, Rong, and Stephen L. DesJardins. “Investigating the impact of financial aid on student dropout risks: Racial and ethnic differences.” The Journal of Higher Education 81.2 (2010): 179-208.
Dwyer, Rachel E., Randy Hodson, and Laura McCloud. “Gender, debt, and dropping out of college.” Gender & Society 27.1 (2013): 30-55.
Faircloth, Susan C., and John W. Tippeconnic III. “The dropout/graduation crisis among American Indian and Alaska Native students.” (2010).