College Measures is a new site that exposes the amount of money the state and federal government are paying students who never make it to a second year of college. I believe the reason for this failure is that students are not prepared for college, we will see what solutions the government comes up with - probably more tax payer money needed. It is good to see someone challenging the hidden costs of education.
Currently State and Federal Governments spend 9.1 billion dollars a year to pay for 1st year students education a year that will not be back for a second year (30% of freshman). President Obama is calling for more people to go to college - so expect this number to balloon.
Special thanks to eduflack for writing an interesting opinion piece on this new research.
Finishing the first lap is a great study that outlines these cost.