Alarming Exodus of low-income students

Closed
Lite Tuition
Mount Clemens, Michigan, United States
Marc Alexander
Founder & CEO
(2)
3
Project
Academic experience
120 hours of work total
Learner
Anywhere
Advanced level

Project scope

Categories
Data analysis Market research Financial modeling
Skills
data analysis federal reserve system loans bankruptcies research
Details

Over the past 10 years, the United States has seen an alarming exodus of low-income students and students of color. With one of the highest student loan debts globally and tuition rate higher than that that of previous years, families are feeling the impact of paying for school. Although obvious reasons, we would like to know what other factors may impact such a large exit of students from the post-secondary educational system. Are students transition to trade schools, starting careers that do not require degrees or just do not see the value in the piece of paper known as a degree? We are looking for the root causes to an exit of students that could possibly impact the educational landscape.

Deliverables

Students will need to complete the following to achieve project success:

  1. Research and evaluate data around collegiate enrollment, students who graduated from high school and chose not to go to college, trade school enrollment numbers and other data associated with the project. (Some information can be obtain via the the Federal Reserve Bank of New York Household Debt and Credit Report as well as the U.S. Department of Education's Federal Student Aid.)
  2. Review and analyze trends that may impact students pursing a post-secondary degree. There have been many young leaders pursuing entrepreneurship over traditional education. Is this a cause?
  3. Communicate weekly findings with Lite Tuition staff and possible scenarios to explore and/or consider.
  4. Research the adverse impact that will be put upon families and students with a bankruptcy outcome of half of the United States colleges.
Mentorship

To ensure students have the necessary support, Lite Tuition will provide the following:

  1. Dedicated email for students to reach Lite Tuition staff with a prompt follow-up and response time.
  2. Data, direction and resources, including contacts, to obtain needed information for project completion.
  3. Weekly meetings, via Zoom or phone call, to review and discuss findings to ensure that optimal project success is met.
  4. Lite Tuition will be able to provide internal data relevant to the success of the project.

About the company

Company
Mount Clemens, Michigan, United States
2 - 10 employees
Technology, Education

Lite Tuition is the only fundraising platform, specifically for students, that allows them to raise funds for tuition without the burden of debt. Funds raised on our platform are sent directly to their school. Whither a student is a high school senior raising money in advance of post-secondary education or a current student attending a college or trade school; we allow everyone to take advantage of our platform.

To date, student loans have reached a startling $1.7 Trillion in outstanding loan debt. Unfortunately, there are roughly 3.9 million students with student loans and no degree. The pursuit for higher education has become a debt trap for millions instead of a path to success as it is perceived to be. As a former student, I know the adverse effects plagued upon students today.

With an in-house SaaS resource that puts financial control in the hands of their students, we want them to be empowered to control their success and minimize the burden of debt while pursuing a degree.