Too often, hard-working students face circumstances that interrupt or halt their plans to obtain a degree. While some of these circumstances are unavoidable, a lack of financing should not be one of them.
There are a number of financial reasons that prevent a student from completing their degree. They may not have budgeted enough for books and fell behind in classes. Others may accumulate holds on their accounts that prevent them from registering. Still, others may lose financial support from other parties such as parents.
Western Michigan University reports that between the fall 2016 and spring 2017 semesters, 395 students with an average debt of $6,332.26/student did not return for classes. This debt does not include loans or financial assistance. Of that number, 101 of those students are seniors, with an average debt of $4,277.30.
While the University works to identify students who have “fallen in to a financial hole,” and provide them with financial literacy and education planning (FLEP) grants or help from the Student Emergency Relief Fund, there are a number of students who will still not graduate due to a minor financial glitch.