LOW RETENTION RATES JEOPARDIZE OUR NATION'S ECONOMIC FUTURE

 By: Dr. Armãndo R. Tolliver | ADVOCATE | August 2, 2011
          Why is the government minimizing Pell Grants? College and the opportunity it offers has long been the avenue to social mobility and economic progress in our society. Whether viewed as a locomotive catapult to economic growth, upholding the keys to a culture, or as tools to credentials, both colleges and universities are pervasive forces that profoundly affect the economy, society, and culture of this country. Low retention rates jeopardize our nation’s economic future, and threaten the economic viability of our postsecondary institutions and our country’s democratic traditions. The base of these ideas reverts back to the educational views of Thomas Jefferson, “a source of social mobility for the lower economic classes”. Could this be a reason for President Obama’s push for higher education in his 2020 Goal? Even U. S. Secretary of Education, Arne Duncan, suggest “college has never been more necessary for success in the global economy".

          Statistics show that only 6 out of every 10, on average, obtain a 4-year degree within 6 years. Reports from the Organization of Economic Cooperation and Development suggest that within a 10-year time frame, the U. S. has plunged its 1st-place position in terms of college-going rates. Another report ranks the United States 12^th out of 36 developed countries with adults of the age bracket of 25-34 with some type of college degree and 5^th in degree attainment among adults ages 25-64 collectively. While acceptance into college is important, retaining and helping college freshmen complete their degree work within the traditional timeframe of no more than 4-6 years is just as vital to the economic and social health of the nation.

          Another raging reality is that low socioeconomic status (SES) students are less likely to attend and complete college than their high SES peers. According to The Pell Institute For The Study Of Opportunity In Higher Education “the nations failure to keep pace with other countries in educational attainment among 25- to- 35-year-old adults can be largely traced to our inability to adequately educate individuals from families in the bottom half of the income distribution”. An analysis of 2009 data from the U. S. Census Bureau found that among dependent students from the bottom half of the income distribution, only 12% earn a bachelor’s degree by age 24, according to The Pell Institute. In contrast, 59% of those in the top half of the income distribution earn a bachelor’s degree by age 24, also quoted by The Pell Institute. Correspondingly, large discrepancies in bachelor’s degree attainment by family income have also been documented by the Advisory Committee on Student Financial. If individuals from both the bottom half of the income distribution, at an equivalent rate as individuals from the top half of the income distribution obtained 4-year degrees by age 24, the U.S. would now have the highest share of bachelor’s degree recipients globally.

          The historical forward momentum is slowing, causing our international lead to slide, and the timing is inadequate. “We need to be forward-looking in order to adapt our educational system to the evolving needs of the economy and the realities of our changing society. More broadly, our system of higher education bears an important responsibility for ensuring that our workforce is prepared for the demands of economic change,” quotes the U. S. House of Representatives.This suggest college completion rates may have other social benefits as well, such as enhancing worker productivity, increasing tax revenues, enhancing the workforce’s ability to adapt to and use technology, increasing community service, reducing dependence on public services, and low college graduation rates are something our economy cannot afford and our society must not tolerate.

          The fundamental objectives of school reform– employable skills, social stability, meritocracy, and equal educational opportunity– remain central themes to school reform. Although there have been significant reform movements that have positively influenced high school graduation rates, there is still improvement needed in college retention rates. The need to retain more students may intensify as the face of changing workforce and educational requirements continues to modify. The issue is multifaceted, attracting students to postsecondary education and retaining them so that they succeed and graduate. Retention itself is dynamic and involves a complex interplay between academic and non-academic factors. In order to reduce attrition and increase retention it is necessary to understand both the contributing and preventative factors.

Suggested Citation

Tolliver, Armãndo. (2011). Low retention rates jeopardize our nations's economic future. [Education Project Online]. Retrieved online at http://www.educationprojectonline.com/2011/08/low-retention-rates-jeopardize-our.html