Did you know…
As we look at the need for scholarship dollars…
The cost of financing a college education can be daunting due to its escalating expenses. In the early 1970s, a student could cover all higher education costs by working an average of 25 hours per week at minimum wage. Today, a student would have to work more than 55 hours per week to cover those costs. Financial limitations keep many Boise State students from devoting their full attention to a college education. Surveys indicate that 77 percent of Boise State students work off-campus, compared to 34 percent nationally.
Loans are the primary source of financial aid for Boise State students. The volume of loans exceeds grants given on the basis of need at a ratio of 3:1. The volume of student loans exceeds total scholarships provided by Boise State at a ratio of 20:1. What does that mean? The typical BSU student receives $1 scholarship dollar for every $20 she takes out in loans. About two-thirds of Boise State’s undergraduates have student loans, and the average debt accrued by graduates exceeds $20,000.
March 2008
