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College Degrees for $10,000?

Updated on January 9, 2013
College degrees for $10,000!
College degrees for $10,000!

10K Scholars

The news media is reporting that student debt is out of control, with most people graduating with around $25,000 in loans. In response to this, states like Texas have put together a program called 10K Scholars that promised a bachelor's degree from one of the state's universities/colleges for a mere $10,000.

Details

Just like any other government program, there are hoops to jump through to get this "deal."

  • Available in Texas for fall 2013
  • The deal only applies to certain majors such as math, science, and information technology.
  • Must have 30 hours of college-level work already completed with a 3.0 average
  • Open to freshman as well as transfer students
  • Must finish within 4 years
  • Must maintain a 3.5 GPA


Arguments

As I'm researching this 10K program, I am both excited and confused. Since students are required to have 30 hours of college credit to begin with, they should have no problem graduating in the required 4 years. If they don't do what's called jetting (attending college while in high school), how are they supposed to pay for those 30 hours?

The question has to be asked, who is paying for the gap in tuition and costs? Will this result in a lower-quality education or will pay for college professors and employees go down?

Cost of college tuition is on the rise but costs lower in Texas
Cost of college tuition is on the rise but costs lower in Texas

Trending

While there are glitches in the details of this program, it looks like the 10K scholar idea is trending. A bill was introduced in California this January. People are fed up with the high costs of education. Here in Georgia, where I live, higher education rises 13% every year and has done so for 20+ years.

While this program won't help those of us who are currently in school right now, maybe it will help those future scholars.

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    • my_girl_sara profile image
      Author

      Cynthia Lyerly 4 years ago from Georgia

      So true. Also they are talking about raising the interest rate. I think we are about at a tipping point with the cost of college. Here in GA, colleges and universities have been raising tuition 14% EVERY YEAR for 20+ years! I'm sure it's that bad or worse in CA. Thanks for the comment!

    • my_girl_sara profile image
      Author

      Cynthia Lyerly 4 years ago from Georgia

      I agree partially with that comment. Some times it is the type of degree (math/science) versus liberal arts that matter the most. Thanks for the comment.

    • Man from Modesto profile image

      Man from Modesto 4 years ago from Kiev, Ukraine (formerly Modesto, California)

      Student tuition debt is now the largest debt in the U.S., ahead of mortgage debt.

    • collegedad profile image

      collegedad 4 years ago from The Upper Peninsula

      Perspective college students need to look at the cost of their education vs. the quality of the education and their future employment. Good hub!

    • my_girl_sara profile image
      Author

      Cynthia Lyerly 4 years ago from Georgia

      Do you know the names of these companies or the programs?

    • Mhatter99 profile image

      Martin Kloess 4 years ago from San Francisco

      Thank you for this. There is a similar program offered by companies trying to recruit employees with specific training.