The real cost of a degree is more than your money. It’s also your time.
How long does it take to get a college degree? A random poll might have most people answering that it takes just four years. But with tuition rates on the rise and a greater emphasis on simply having a degree no matter what field you work in, it could take longer.
Some students begin their path to a degree by starting out at a community college or taking college course work concurrently with high school courses. Most credits end up transferring to an institution like the University of Wyoming, giving first year students with college credit a head start on finishing their degree within the traditional four-year time frame. For transfer students coming from a community college, they’ve saved money but may end up graduating with a Bachelor’s degree in more than four years.
The most current statistics provided by the University of Wyoming show that just 31 percent of students who began their degree programs in the fall or summer term of 2013 graduated within four years; 58 percent graduated within six years of beginning a program in the summer or fall of 2011. This puts the university just below the national average of 63 percent 6-year graduation rate, according to the National Center for Education Statistics.
A number of factors contribute to these seemingly low graduation rates. Chief among these is the amount of applicants accepted to the University and retention rates. Accepting more than 90 percent of students who apply, UW actually does better than institutions with a similar acceptance rate – the national average for students graduating within six years is only 48 percent.
Part time students may face the unique challenge of having a time limit on how long college credit is good for. Colleges and universities across the U.S. have varying policies on how long credit earned for courses remains valid at the institution.
For some universities policies state that credits earned by anyone who attended do not expire even if they don’t complete their degree program. Others state that after 10 years credits earned may expire if the student isn’t still working towards a degree.
While only going to school part time may be more financially feasible for anyone hoping to earn a degree, the drawback is that more time is needed overall to complete the given program.
However people choose to get a degree, they need to keep in mind the myriad of options they have to attend and the total cost in both time and money.
