MYTH No. 2: Most college students are supported by their parents
and take advantage of a multitude of available loans,
scholarships, and savings plans. REALITY No. 2: Young people who
fail to finish college are often going it alone financially.
They’re essentially putting themselves through school. According
to one recent analysis, college costs have risen more than 400
percent in the last 25 years, while the median family income has
increased less than 150 percent.1 And even though the pressure
of having to balance the demands of a job and school is the
major reason young people say they drop out of college, it would
be misleading to dismiss the role of rising college costs and
stagnant family incomes. National statistics show that young
people who leave college without a degree are more likely than
their peers to come from less privileged backgrounds and to live
in more precarious economic circumstances.2 This study revealed
that these students often bear the full responsibility of paying
for school: Nearly