Earning a Ph.D. Debt-Free
February 17th, 2010One of the most significant ways to potentially reduce the cost of college centers upon a non-traditional approach to a degree. Given the difference in tuition and fees between colleges, more and more people are suggesting students consider attending community college for as much as the first two years of school.
The potential savings of taking such a step is enormous. According to the College Board (pdf), the average tuition at two-year community colleges is $2,544, or just a tad more than a third of the average instate-costs at four-year public schools ($7,020). Of course, that rate pales in comparison to the average costs at for-profit institutions ($14,174), out-of-state at four-year public schools ($18,548), or at private four-year institutions ($26,273).
Unfortunately, many see the CC step as one of settling for a lower caliber program. However, a recent summary from the Chronicle of Higher Education gives a clear indication that community colleges do offer quality programs.
Quoting data from the recent Survey of Earned Doctorates, the Chronicle reveals a significant percentage of those earning their doctorates attended community college for a portion of their schooling. 
First, one in five Americans (19.2%) who earned a doctorate in 2008 attended a community college at some point.
But even more significantly a larger portion of several minority groups used the path.The highest percentage subgroup was the American Indian; two out of five (39%) awarded a Ph.D. earned some of their credits at a community college. Two other groups, multiracial and Hispanic, relied on the option significantly as well with one in four (26% and 23.6% respectively) having attended a CC at some point.
Whites essentially matched the American average (19.6%). The two subgroups using the format least were Blacks (17%) and Asians (12.8%). On the flip side, Asians earned 2,543 research doctorates in 2008, more than members of any other U.S. racial/ethnic minority group.
Time and Money
But even though community colleges are less expensive, the debt students took on did not mirror the ratios mentioned above. For example, the highest percentage of attendees at community college, American Indians, posted the second highest overall accumulative debt for those earning their doctorate ($29,698). In addition, in yet another sign that we need to do more in the way of grant opportunities for minority groups, multiracial had an average debt load of $25,761, Hispanics at $27,553 and Blacks $ 38,586.
And while fewer Asians attended CC, the average overall debt for that subgroup totaled just $13,216. Clearly, these speak to another issue, that when it comes to accumulating debt, it is likely more about attitude and approach than simply taking advantage of the CC system.
At the same time, we can begin to understand these debt totals better by noting that attaining a graduate degree can be a very lengthy process for most students. Half of all those earning a Ph.D took at least 9.4 years to earn their doctorate. Even more significantly, half of those earning a Ph.D. took at least 7.7 years just to complete graduate school.
As a way of reducing the need for borrowing, many students were able to utilize teaching assistantships, research assistantships/traineeships, and fellowships/grants to help them fund their schooling. Three fourths of all graduates reported one of these three categories as their primary source of support during graduate school.
And in the best sign that college is possible without taking on gobs of debt, just over half (53%) of graduates reported having no graduate or undergraduate education-related debt at all. But on a sobering note, one in 12 graduates (8%) reported debt of $70,000+.
What one studies also is critical when it comes to debt management. The greatest average cumulative debt occurred in the social sciences ($27,083), the humanities ($23,033) and education ($22,351). In contrast, the lowest average cumulative debt could be found in the fields of engineering ($10,149) and the physical sciences ($10,516).
But in sum total, the most important data for students consists of the difference between accumulated undergraduate and graduate debt. The three most debt-ridden graduate categories (education, social sciences and the humanities) caused students pursuing a doctorate to quadruple their undergraduate college debt.
The key difference involved the number of research assistantships available in the hard sciences and engineering versus that of the social sciences, education and humanities. In contrast, each of the categories posted similar percentages of teaching assistantships as well as grant/fellowship/scholarship options.
Graduating Debt-Free
Taken collectively, these results make it clear that if a student is truly interested, he or she can earn a graduate degree without taking out college loans. No doubt, one clear method of saving is to attend community college for a portion of that schooling.
But the biggest factor to accumulating minimal debt appears to center as much upon the proper choice of major and the subsequent scholarship/funding that accompanies that specific programming as less conventional routes. Most importantly, whether one utilizes a CC for part of their course of study, it is clear that students with the proper attitude, approach and choice of academic area of study can even earn a Ph.D. without making college debt a part of their future.
