CHAMPAIGN, Ill. (WCIA) — Students trying to save on their college education have limited options to make it work, but one CEO in higher education wants universities to do more with less.
It’s just talk at the moment, but College Board CEO David Coleman called on the University of Illinois to look into three-year degrees. The reason is to ease the financial burden on middle class families. Jake Kuebler at Bluestem Financial Advisors says costs add up quick for the families he helps.
“When you count tuition and fees and books and living on campus and so forth, the average cost for that is over $30,000 a year,” says Kuebler. “So over the course of a three-year degree that’s $120,000, and that’s assuming that you only have one child.”
The University has not made it clear whether they would look into it. Talking to students on campus, many do not like the thought of losing a year away at school. Although, they did agree that the idea would help them with costs.
“I think that it would be a kind of cool thing financially and also if you only have three year degrees, maybe people will decide to pick up two and make them a little bit better well-rounded,” says student Kim Ward.
Another concern is that a three-year degree would take students away from community colleges. Parkland College declined to comment on that.