Are Students Making Rational Decisions When Choosing a College?
Attractiveness of big football schools comes at a price
The rising cost of tuition is becoming more of a burden on students each year. However, some students may wish to consider their priorities when choosing a school, as it seems colleges with dominant football programs outweigh tuition fees and academic performance when students are making their choice.
Currently, student debt in the US stands at a whopping $1.2 trillion, and it is taking people longer to pay off. Up until the end of 2008 total student debt was less that total credit card debt, HELOC debt and Automobile debt. Since then this picture has changed and changed dramatically.
A recent article ranking the top 15 college football programs since 2000 will not surprise any. Powerhouse schools like University of Texas, Florida State, Oklahoma and the University of Southern California make up part of an impressive list of schools.
Comparing tuition of these 15 college football schools to the largest 50 schools in the United States reveals some data that may see Moms and Dads across America weigh in on their children’s choice.
Tuition of these big 15 schools is 27 percent more that the average of the 50 biggest schools in the United States. Over a 4-year bachelor’s degree, that equates to over $16,000.
Just how much does the football program come into a student’s decision making. “For non-sports applicants the sports program is a huge attraction, it becomes a central gathering place for the student, “ said Keith McPhail and University of Texas alumni.
The University of Kentucky, not on the college football list, but arguably the finest college basketball program of all time has the same attractions says, Jen Stevenson. “I think when a school has such a dynasty sports program like Kentucky does basketball, it’s a huge draw for prospective students,” said Stevenson a 2010 graduate of the University of Kentucky. “I myself did not choose UK based merely on the attraction of their athletic programs, but it definitely influenced my decision.”
What’s more concerning is student’s willingness of students to pay a premium for the chance to attend a school with a successful football school. When asked about this McPhail said, “Personally, course I would.”
Stevenson echoed the same sentiment. “As far as students willing to pay a premium to go to a school with a big sports program-I don’t think that’s unreasonable to consider,” she said.
If the elevated tuition costs aren’t enough, performance is also alarming. The tuition premium does not help graduation rates; in fact, it’s quite the opposite. The average graduation rate for the biggest 50 schools in the US is 70.5 percent compared to 66.1 percent at these football schools.
The alarming stat on top of all this is college unemployment rates. As the US unemployment rate drops to a multi-year low of 5.1%, the college graduate rate is 7.2 percent, compared to 5.5 percent in 2007.
All this begs the question, is paying more for a college with a big-time football team that comes with lower graduation rates when unemployment rates after college are elevated worth it? At the moment, it seems so.
