Bend the cost curve for college education
Sue Ellspermann and Jeffrey D. Scott
After homeownership, the cost of a college education is one of the most important investments for Americans. People either try to pay for college for their children or they try to go to college themselves. This is the reason why many question the value of a college degree. When calculating tuition and fees, plus textbooks, as well as living expenses, in layman’s terms, college can be expensive.
There are many ways families can cut personal college expenses. Deposit of FAFSA, or free request for federal student aid, to determine if a student is eligible for federal or state financial aid is one-sided. Applying for a scholarship is another. Students might even consider living at home with a parent or guardian.
However, even though students are eligible for financial aid, other needs such as food, transportation, and accommodation may take priority, and research shows that over 65% of students forgo purchasing course materials. , including manuals, in order to save money.
To help combat this financial barrier and ensure Hoosiers can afford a post-secondary education, Ivy Tech Community College has maintained its low-cost tuition fee model. This year, with financial support from the Indiana General Assembly, we are pleased to announce that Ivy Tech will freeze tuition fees for the next two years. This means that the tuition fee will remain without unexpected increase for the academic years 2021-2022 and 2022-2023.
Not only that, but starting this fall semester, Ivy Tech will pay for textbooks for at least the next academic year, investing nearly $ 25 million to cover the costs of needed textbooks. This investment will save students hundreds of dollars each year and, most importantly, ensure they have the materials they need to be successful from day one.
We did not stop there. We also know that full-time students, who make up about 25 percent of our student body, must complete 30 credit hours per year to be considered âon-time completionâ for a two-year degree. Ivy Tech will ensure that no full-time student pays more than $ 4,500 per year for as many credit hours as they want. If a full-time student does not complete 15 credit hours per semester, Ivy Tech will allow them to take up to six credit hours at no cost with a Summer-Flex scholarship to achieve the required 30 credit hours. This will help students maintain their eligibility for state financial aid and qualify for more aid dollars.
You may think it sounds too good to be true. We can assure you, it’s true! With our new Ivy + approach to tuition and books, these student-centric initiatives strengthen Ivy Tech’s commitment to being your community college, and remove barriers to student success and completion. Our goal is to ensure that Hoosiers succeed in earning a post-secondary degree that places them directly into a high-paying, high-demand career, or prepares them for a smooth transfer to a four-year institution where they can complete. their baccalaureate. degree and beyond. With Ivy +, we’re investing in a brighter, more affordable future for Hoosiers.
Sue Ellspermann is the President of Ivy Tech Community College. Jeffrey D. Scott is Chancellor of the Muncie-Henry County Ivy Tech campus.