Economics of Timely Graduation
Students need to understand that there are real and significant economic benefits to maintaining good progress toward their degrees and graduating in four years or less. Students who take five years to graduate will pay an additional $115 in academic costs, and students who take six years to graduate will pay an additional $232 in total academic costs compared to students who graduate in four years. More important than these costs are the earnings students lose by delaying graduation. Data from the United States Census Bureau indicate that young college graduates earn about $13,000 more per year than young adults with only some college. Thus, students who graduate in five years forfeit $13,000 in earnings, and those who graduate in six years forfeit $26,000 compared to students who graduate in four years.