Affordability
Postsecondary education should be within everyone’s reach.
By making existing financial aid easier to access and by improving efficiency of higher education programs, more individuals will be able to pursue their educational and employment goals, regardless of their circumstances or background.
By the numbers
of individuals who left college without a degree did so because of the cost.
is how much prospective college students missed out on by not completing the FAFSA in 2023 alone.
Why affordability matters
The cost of education after high school continues to be a concern for prospective students and their families — one that often prevents them from pursuing or completing education and training. Among young Americans in particular, confidence in postsecondary education has waned in recent years. Low- and middle-income learners are especially affected by the escalating costs and confusing pricing in postsecondary education. Today, 85 percent of degree-seeking undergraduate students receive some combination of grants, scholarships, or loans, and the expenses that aren’t covered by these sources of aid often remain a barrier between students and their education and career aspirations.
Fixing higher education affordability is key to restoring public trust and confidence in postsecondary education. Our country needs more affordable pathways to postsecondary education and training that increase earning potential and lead to better economic and life outcomes.
How we support affordability
Reducing the cost of education after high school is just one way to make it more affordable. Strada also supports decreasing the time required to complete a degree, increasing access to need-based financial aid, leveraging innovative financing mechanisms that improve access to education for all students, and advancing awareness and transparency surrounding the availability of aid.
Why college cost transparency is the future of higher ed
Hundreds of institutions have come together to make the financial aid process easier by providing simple and clear pricing and financial aid information to students and families as part of the College Cost Transparency Initiative, in which participating postsecondary institutions adopt common terminology and standards for their financial aid offers.
Routes to saving time and money on a degree
Research shows credit for prior learning saves students time and money and increases graduation rates. Providing opportunities for students to demonstrate skills and knowledge gained outside the college classroom makes education more affordable, particularly for adult learners returning to college.
How we measure progress
Cost should not be an insurmountable barrier for any individual who wants to pursue an education after high school.
Strada developed the State Opportunity Index to help states measure the affordability of a postsecondary education in their state. We calculated the number of hours a student would have to work annually, earning their state’s median wage for college students, to cover the net price of their degree program (total cost of attendance, minus grants and scholarships).
The 2024 State Opportunity Index showed that — based on the average net price of two- and four-year enrollment in relation to the median wage for employed students — California and Washington are the most affordable states to attend college. A student paying the average net price in these states would be able to cover the costs of tuition, fees, and living expenses after aid by working fewer than 10 hours per week during the school year and full time during the summer.
How a student chooses a college major is often the result of personal factors, such as interests, strengths, or education and career guidance.
In 2025, Strada’s look and brand image will change to reflect our commitment to working with focus, connection, curiosity, agility, and optimism — qualities that will guide us and undergird all our efforts.
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