. . . for both the student and taxpayers, according to a new report by the American Institutes for Research (AIR).
Taxpayers assist college students through both grants and loan subsidies. It is expected that college graduates will repay this generosity by earning more—and therefore paying more taxes—once they enter the workforce.
According to AIR, the students of the class of 2006 who dropped out before completing their degree have cost the U.S. $4.5 billion in lost tax revenue.
Of course, dropping out is also tough on the student. A dropout has spent money and possibly taken out loans for college yet doesn’t enjoy the increased earning power of a college graduate.
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