Which university will get the largest investment?
A report released Thursday by the Federal Reserve Bank of New York found that most institutions in the United States are not getting enough investment in their undergraduate and graduate programs.
The report found that students are spending much more time studying in graduate school than in undergrad.
The top three universities in the country in terms of students per student spent nearly $5,000 more per student on their undergraduate degree than the top four universities in terms for undergraduate education.
According to the report, the average graduate student spends $4,900 a year and the average undergraduate student spends only $2,300.
The report noted that students in graduate schools have more options for income, including jobs and scholarships, compared to undergraduates.
“The graduation rate for recent graduates of U.S. universities has been falling, falling at a slower rate than the rate for undergraduates,” said Robert Greenstein, president and CEO of the Federal Deposit Insurance Corporation, in a statement.
“With this in mind, it is critical that students get their degree and begin their careers with the knowledge they need to earn a job.”
The report also found that the average student spends a total of $5.2 million on college expenses each year, which is about $15,000 per year less than the $8,600 that a typical graduate student is spending.
In order to improve the affordability of higher education, the Fed said it is proposing $15 billion over the next 10 years in grants and loans to help universities, colleges, and schools meet their financial commitments.