Students today have reason to be concerned about the average cost of college, which has doubled in the last 30 years, according to research completed by CollegeBoard. Coupled with rising inequality in income levels, college can seem more unaffordable than ever for many families, requiring a larger share of household income to afford it.
Worrying about how to pay factors into the health and likelihood of success for students. According to the Institute for Higher Education Policy, students with large gaps between the cost of college and funds available to them garner more debt, face higher degrees of food and housing insecurity, and are more likely to leave school without a credential.
Plus, for those first-generation students without a family member who has been to college to guide them through applications, applying for financial aid and loans, the entire process is that much more daunting.
“There is nothing more difficult than working with families for three, four, five months, just for them to either realize they cannot do it or give up in the process because they think they cannot do it,” Moreno said. “I have worked with so many families where they have the GPA, they have the scores, they have the ability. They have everything they need. They just don't know how they're going to pay.”
Now imagine the student is the primary English speaker in their family, trying to understand and translate complicated forms and processes. Moreno said he sees this occur in his own Hispanic community.
“When most of the population is going to be first generation, your parents don't understand. Even if you want to do it, they may be trying to talk you out of it and tell you it is not possible: ‘A loan, for how much, for how long, that early in your life? It's better to start working, right?’” Moreno said.
Take Hickey for example: he opted to go into a trade because he did not see college as a good fit for him. While he does not regret his trade experience — rather, he highly values it — he acknowledges there can be a limit to your earnings and career mobility without a degree.
He cites an example anyone in Asheville is familiar with — craft brewing. To become a brewer, he said, you may make $30,000 a year at the entry level and eventually cap around $50,000 with experience. However, with a degree you could be the brewery’s accountant, its CFO, or its marketing manager and earn a more lucrative salary, while still remaining in the industry.