Key Points
- The six-year completion rate for the fall 2018 cohort hit 61.1%, the highest recorded, driven by gains in public two-year institutions.
- Eight-year completion rates reached 64.7%, though growth slowed after year six.
- Full-time students were far more likely to complete degrees than part-time students.
The six-year completion rate for U.S. college students reached 61.1% for the fall 2018 cohort, according to the latest report from the National Student Clearinghouse. This represents the highest rate recorded since tracking began.
The eight-year completion rate, reflecting the cohort that began in fall 2016, rose to 64.7%, marking another record high. However, the additional gains seen after six years have diminished, suggesting that earlier completions are driving these trends.
Despite these national improvements, disparities persist, particularly along lines of enrollment status, state, and socioeconomic background.
Progress Towards Degree By Year In College | Source: National Student Clearinghouse
Enrollment Status Drives Outcomes
The report highlights the critical role of enrollment status in determining student success. Among full-time students in the fall 2018 cohort, 67.2% earned a degree within six years, with only 25.4% discontinuing their studies.
Conversely, part-time students faced significant challenges, with a stop-out rate of 52.4% and a much lower completion rate of 33.7%.
These figures underscore the barriers faced by part-time learners, who often juggle education with work or family responsibilities. Experts suggest that targeted interventions and support systems for part-time students could help address this gap.
However, some of these part time learners may also have other reasons or incentives to be attending school and/or not completing school - such as employer-provided education.
Outcomes by Learner and School Type. Source: National Student Clearinghouse
State and Demographic Variations
While some states showed notable gains in six-year completion rates, progress was uneven. Only ten states saw increases of one percentage point or more, and rates in most others remained stagnant.
For older students and those from lower-income areas, the challenges are pronounced. The six-year completion rate for students aged 25 or older fell to 37.8%, a decline from the previous cohort.
At every income level, students from wealthier neighborhoods completed degrees at significantly higher rates than their lower-income peers.
Final Thoughts
These findings come at a pivotal time for higher education as institutions grapple with declining enrollment and shifting workforce demands. While the gains are promising, the come at the headwinds of significantly higher education costs, rising student loan debt, and a changing economy.
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Editor: Colin Graves
Robert Farrington is the founder of The College Investor and is widely recognized as one of the nation’s leading voices on student loan debt and saving for college. He holds an MBA from UC San Diego Rady School of Management and has spent over 15 years researching, writing, and advising on student loans, 529 plans, financial aid programs, and saving and investing for young professionals.
Robert has been featured in the The New York Times, The Wall Street Journal, The Washington Post, NBC News, and Forbes, where he has been a regular personal finance contributor for over a decade. His work combines both professional expertise and personal experience – he successfully navigated his own student loan repayment journey and has helped thousands of readers do the same.
He is committed to making the intersection of personal finance and education transparent and accessible. You can learn more about Robert on the About Page or on his personal site RobertFarrington.com.