Page 64 - 2015 Compass Now

programs at the campus, while being smaller programs, are increasing in program population size from each
quarter. La Crosse area employers offer potential placement opportunities consistent with the interest in
health science programs. Globe University has placed over 82% of the graduates in their field of study upon
graduation each year. Globe University is also ranked nationally as a top military-friendly school.

Cost of Higher Education

As has been discussed, obtaining a post-secondary degree is becoming increasingly more necessary when
seeking employment. Cost is one of the barriers that is most commonly voiced by those seeking higher
education. The cost of a college degree in the U.S. has increased 1,120% over the past 30 years, four times
the rate of the consumer price index22. According to The College Board, an organization that prepares and
administers standardized tests that are used in college admission and placement, the projected four-year
tuition and fees for enrolling at a public university for an in-state resident in 2015 would cost approximately
$39,400. By the year 2033, it is estimated that the same scenario will cost $94,80023. These studies paint a
clear picture as to why students are becoming increasingly indebted when investing in their education.

Figures 15-18 indicate the cost per year, graduation rates, loan default rate, and median borrowing level
at higher education institutions in the Great Rivers Region. Table 9 shows the change in average net cost
at each institution from 2008-2010. The cost of education is an important consideration because of its
effect on future debt. Students who do not have the luxury of extensive savings will require financial aid to
cover the cost of college. Some forms of financial aid must be repaid after completing school regardless of
whether the student completes his or her degree. This is an important consideration because depending on
a graduate’s ultimate occupation and salary, his or her debt may be difficult to pay off in a timely manner.
The default rate of an institution is also an important consideration because it reflects the likelihood of
students repaying their financial aid. Some lenders will not loan money to students attending institutions
with high default rates. The graduation rate of an institution should also be considered when choosing a
college or university. The percentage of college graduates at a given institution may be influenced by the size
of an average college class, faculty hiring practices, quality of curriculum, age of the student, full- or part-
time status, the amount spent per student, and availability of support staff.

EDUCATION Figure 15: Cost per Year to Attend

$25,244

$17,010

$12,279

$8,317

Globe UW-L Viterbo Western

Source: The White House College Score Card: U.S. Department of Education’s
Integrated Postsecondary Education Data System (IPEDS)

Net price is what undergraduate students pay after grants and scholarships
are subtracted from the institution’s cost of attendance.

Costs refer to the average net price for undergraduates at the institution for academic year 2011-12.

56 COMPASS NOW 2015