--- title: Nearly 60% of College Students Have Considered Dropping Out Because of Money description: "Nearly 60% of college students said they have considered calling it quits on their degree due to financial stress —\_and 19% actually have." authors: - name: Adam Hardy role: Lead Data Reporter url: https://money.com/author/adam-hardy/ bio: Adam Hardy has eight years of experience in personal finance journalism. At Money, he’s written extensively about student loans, including guides, explainers and breaking news. MuckRack named Adam one of the top 10 journalists covering student loans in the nation. education: University of South Florida, BA, Magazine Journalism at_money_since: 2021 articles: 501 covers: - Education - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - The Penny Hoarder - Forbes Advisor - Creative Loafing - The New York Times - The Washington Post - Bloomberg - Harvard Law School - The Federal Register - National Consumer Law Center - CBS News - Becker's Hospital Review - Business Insider - Mother Jones - The Week - Fortune - The Philadelphia Inquirer - National Association of Student Financial Aid Administrators (NAFSAA) - Education Advisory Board (EAB) - The Institute for College Access & Success (TICAS) - This Morning with Gordon Deal - Empower - Reddit social: - https://www.x.com/hardyjournalism - https://www.linkedin.com/in/hardyjournalism/ editors: - name: Julia Glum role: Managing Editor url: https://money.com/author/julia-glum/ bio: Julia Glum joined Money in 2018 and specializes in covering financial trends that affect everyday Americans' wallets. She also writes Dollar Scholar, a weekly newsletter that teaches young adults how to navigate the messy world of money. education: University of Florida at_money_since: 2018 articles: 453 covers: - Education - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - Newsweek - International Business Times - CBS News - Good Morning America - WUSA9 - Pix 11 - The New York Times - Mashable - The Washington Post - CNBC - Politico social: - https://x.com/superjulia - https://www.linkedin.com/in/julia-glum published: '2024-06-27T18:52:00.000Z' modified: '2024-06-27T18:52:00.000Z' section: Education tags: - News word_count: 475 canonical: https://money.com/college-students-drop-out-money/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![A hand holding a scale with money on one side and a college graduate on the other side.](https://img.money.com/2024/06/News-Drop-Out-College-Money.jpg?crop=0px%2C222px%2C2880px%2C1620px&quality=85) College students are so concerned about affording their education that they’re considering dropping out in droves. About 60% of current students said they have considered calling it quits on their degree due to financial stress, according to a [survey](https://www.ellucian.com/news/national-survey-reveals-59-college-students-considered-dropping-out-due-financial-stress) released Wednesday by Ellucian, a higher education tech company. What's more, the firm found that many of them — 19% — actually did drop out, citing financial uncertainty as the leading cause. “It's clear that academic success is directly linked to student financial success,” Ellucian CEO Laura Ipsen said in a [statement](https://www.ellucian.com/news/national-survey-reveals-59-college-students-considered-dropping-out-due-financial-stress). The survey was conducted in February and March and included responses from 1,500 U.S. college students. ## Cover your college expenses with a Student Loan, so you can focus solely on your grades and education. ### With a Student Loan from College Ave, you can worry less about tuition and devote your energy to mapping out your future. Click on your state and take the first step today. [View Rates](https://money.com/pr/u3e72cf8ee70?ap_referrer=%2Fcollege-students-drop-out-money%2F) ## College... at what cost? With so many students struggling to [pay for college](https://money.com/how-to-pay-for-college/), the financial stress is taking a major toll on students’ mental health and academic performance. Of the students having trouble affording their studies, nearly 80% in the Ellucian poll reported that the strain is affecting them mentally, and 61% said their grades slipped result. The financial burden of a degree, both in and after college, is leading many Americans to question whether [college is worth it these days](https://money.com/college-costs-no-longer-worth-it-survey/). For instance, a recent Pew Research Center study found that only 22% of Americans believe that college is worth it if the person has to take out student loans (which the vast majority of students do). An even bigger share, 29%, said college isn’t worth it even if [student loans](https://money.com/student-loans/) aren’t required. The shift of uncertainty in the value of a degree comes amid rising earnings for high-school grads, dwindling job security for college grads and, of course, the growing costs of college. While the price tag for a degree has slowed its upward march since the pandemic, college expenses overall have skyrocketed over the past 20 years. According to a Money analysis of U.S. Education Department data, the inflation-adjusted cost of a bachelor’s degree — including tuition, fees, room and board and assuming a four-year completion — has increased by 30% since the early 2000s, to over $123,500. The wallet-draining effects of today’s historically high levels of inflation could also be fueling the loss of faith in higher education. In many cases, students are now faced with financial ultimatums like paying for college or the necessities of everyday life: In the Ellucian survey, 57% reported having to choose between college expenses and basic needs like food and clothing. That said, college grads continue to earn a notable premium over their counterparts who hold only a high school diploma. According to [data](https://www.newyorkfed.org/research/college-labor-market#--:explore:wages) from the New York Federal Reserve, typical wages for young workers with high school educations are $36,000. For recent college grads? $60,000. ## Need some financial aid to cover tuition? A Student Loan can help. ### When you need a hand to cover the many costs that come with higher education, a Student Loan is a good option. Click below for more information from College Ave. [View Rates](https://money.com/pr/uf2d11997a47?ap_referrer=%2Fcollege-students-drop-out-money%2F) ![](https://s3.consumersadvocate.org/prd/image/image/24903/medium_b6089714-807b-4b5a-88f9-defb35d74711.png) Reach new academic heights with College Ave [View Rates](https://money.com/pr/y61180a308af?ap_referrer=%2Fcollege-students-drop-out-money%2F) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/college-students-drop-out-money/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Education", "item": "https://money.com/education/" }, { "@type": "ListItem", "position": 3, "name": "Paying for College", "item": "https://money.com/paying-for-college/" }, { "@type": "ListItem", "position": 4, "name": "Nearly 60% of College Students Have Considered Dropping Out Because of Money" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/college-students-drop-out-money/#webpage", "url": "https://money.com/college-students-drop-out-money/", "name": "Nearly 60% of College Students Have Considered Dropping Out Because of Money", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2024-06-27T18:52:00.000Z", "mainEntity": { "@id": "https://money.com/college-students-drop-out-money/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/college-students-drop-out-money/#breadcrumb" }, "dateModified": "2024-06-27T18:52:00.000Z" }, { "@type": "NewsArticle", "headline": "Nearly 60% of College Students Have Considered Dropping Out Because of Money", "articleSection": "Education", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2024/06/News-Drop-Out-College-Money.jpg?crop=0px%2C222px%2C2880px%2C1620px&quality=85", "width": 1012, "height": 569, "caption": "News-Drop-Out-College-Money" } ], "author": [ { "@type": "Person", "name": "Adam Hardy", "url": "https://money.com/author/adam-hardy/", "@id": "https://money.com/author/adam-hardy/#author", "description": "Adam Hardy has eight years of experience in personal finance journalism. 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