Jun 9, 2009 5:54 pm US/Central
Recession Dashes High School Grads' College Dreams
CHICAGO (CBS) ―
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Walter Kampf-Lassin's college fund dried up as the stock market sank, and the high school graduate's dreams of going to Syracuse University had to be shelved. He's headed to the Savannah School of Art and Design instead.
CBS
Millions of high school students will pack up and head out to college come fall. But according to a new study, 70 percent of them are forgoing their dream college or university for more affordable ones.
CBS 2's Derrick Blakley reports more than ever in this recession, high school grads are finding that getting into college is only half the battle. Paying for it can be even tougher.
Long before Walter Kampf-Lassin graduated from prestigious Morgan Park Academy he'd been accepted at Syracuse University, and given preliminary financial aid worth tens of thousands.
"It was my number one choice and had everything I wanted," he said.
But when the final award letter came, the figures were sharply reduced. His parents couldn't afford it, and his plans were crushed.
"My college fund, it hasn't grown certainly," Kampf-Lassin said, hit by the struggling stock market. "So there's less options."
According to a new survey, 71 percent of high schools report more students are bypassing their dream college, and the big reason is money.
"It seems some of the schools decided to spread out the grants among more students in smaller pieces," said King College Prep Principal Jeff Wright.
According to college counselors, 60 percent of high schools are seeing more students enroll in public schools, with applications up 70 percent at public universities, and 37 percent of high schools are seeing more students attend junior college to save money.
High school graduate Ozzie Copperwood III most wanted to go to Illinois State University and enroll in the school's criminal justice program.
Instead, Copperwood's caught in the middle class squeeze. His parents make too much for financial aid, but they can't afford to send him away to school. He's heading to Chicago State.
"I wanted to stay in the dorms, get away from home. I was hurt when I found out I couldn't do that this year when kids with lower grades get to go away and I'm stuck at home," Copperwood said.
He hopes to transfer to Illinois State after a semester or two. And Kampf-Lassin is heading to the Savannah College of Art and Design.
Over at King College Prep, the 185 seniors drew almost $5 million in financial aid offers this year, but the economy's forcing some to downsize their aspirations to fit their budgets.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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