The Big Idea I’ll Be Working On In 2015:  Reduce College Student Debt

The Big Idea I’ll Be Working On In 2015: Reduce College Student Debt

I suppose universities can make New Year’s resolutions. So here’s mine for Trevecca Nazarene University in 2015.

I resolve to find a way to reduce the debt of graduating students at Trevecca while simultaneously reducing the growing cost of unfunded aid to students.

Our students graduate with an average debt of about $21,000. This means some have more, some have less, and some have none. I could write about how this $21,000 is similar to the cost of a good used car, which will decrease in value the minute they drive it off the lot—while their investment in a college degree will repay itself about 47.6 times across the next 40 years.  I’d invest in a proven return like this every day. But my resolve is to drive this average debt number into the teens and find a way to keep it there or lower.

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