Your Child's in College Now - What Are the Chances for Graduation?

You've worked hard to promote the benefits of education. It hasn't always been easy for the majority of parents, particularly for those with male offspring. Nevertheless you dropped your child off last month, arranged to pay tuition for the first semester, selected the appropriate meal plan, visited the dormitory, purchased the essentials for school - a laptop, the pricey 10 pound textbooks, the even more pricey paperbacks- and a variety of other items to insure their comfort in the small surrounds they will occupy during their first year.

They likely have a credit card or an allowance to use for essentials. The first bills and statements will arrive shortly and your hoping they kept their expenditures to a minimum.

You're trying to stay in touch, but for the majority the calls or contact from your offspring are becoming further apart. The routine of the household is a bit different because this child is "missing in education" and you're concerned, but realize you have to let go. You've done all you can do for now.

So, what are the chances your child will complete this journey into higher education? Approximately 65% of those graduating from high school (71% of females and 56%of males) will initially begin the trek to achieve a college degree. However, based on information contained in a recent release by the international Organization for Economic Cooperation and Development (OECD) only slightly more than half (54%) of those entering in the United States will complete the sojourn. In the OECD report titled Education at a Glance, the organization analyzes and assesses the educational policies and accomplishments of Australia, Belgium, Canada, Denmark, France, Ireland, Japan, Korea, New Zealand, Norway, Spain, the United Kingdom and the United States to name a few.

Some interesting data is revealed in their report. Once again it is confirmed that there is a substantial rise in lifetime income for those that acquire a college degree. Attendance at college, even if a degree is not awarded will result in higher lifetime earnings than those that do not attempt the journey.

So is the number of of people with a college degree increasing? Yes, the percentage of the population with a college degree has increased, however other countries within the OECD are showing marked increases in the percentages of those in their population that are earning degrees. In the past the United States was a clear leader and while we currently maintain our lead, it is diminishing rapidly. Perhaps that is why the United States is being challenged on numerous economic fronts. The United States does lag in the awarding of science degrees and that does not bode well for our nation.

The numbers if international students seeking a college education has increased in the United States, however the percent gain compared to other OECD countries has declined. Nevertheless the United States remains the the clear leader in attracting foreign students with over 50% of the international students selecting the United States as their educational destination.

The bottom line looks like there is a little better than a 50-50 chance your child will matriculate. Students drop out of college for a variety of reasons. The requirements and demands of studying are obviously a hurdle, but there are many other factors that influence the decision. As parents we must continue to support, demand, cajole and do whatever else is necessary to encourage our children to earn their degree. The payoff according to what we all know and the data in the OECD report is well worth the investment. Not only is it a personal accomplishment, but our nation needs well educated and informed citizens if we are to successfully compete in the world.

A note to those that may have a child that is not considering college:

As a parent, this writer has one female child that earned a graduate degree and one male that dropped out of college initially and is just now taking up the gauntlet again. Interestingly, my drop out is earning substantially more than the child with the advanced degree even while he is attending college part time. Perhaps that speaks to the opportunities that are readily available in high tech software engineering and the computer programming opportunities that are available to those that are technologically gifted. Since he operates his own company, it is his technical knowledge, not his degrees that insure the high income that he earns.

While he is pursuing a degree for his personal edification, it is not essential as he possesses the talents and skills necessary to maintain high earnings. How did he do it? Self-taught and hours of independent study at his own pace. His achievements may be unique or they may speak to the fact that a college education might not always be a necessity for success and fulfillment in life.