Can a more efficient university help reduce student loan debt?

December 13th, 2013

Dental academic software provides a long list of benefits to any university's own student management process. However, these tools may also provide school's around the country a valuable opportunity to ease fears about the rising cost of loan debt.

Many recent graduates from academic institutions in the U.S. have become disillusioned because the amount of money required pay off student loans often fails to be offset by the presence of abundant, high-paying jobs. The Guardian cited data collected by the Institute for College Access and Success' Project on Student Loan Debt that found average student owed nearly $3,000 more to loan providers in 2012 than they did during 2011. The number of people enrolling in universities with financial assistance has grown substantially as well. In fact, out of 1,075 private and public colleges interviewed, 42 claimed more than 90 percent of current graduating classes will enter the professional workforce with some amount of debt to pay off in the future. If these trends continue, it may cause trouble for many schools that rely on the ability to attract new students every year.

What's at stake with the threat of declining enrollment numbers?
While the oral health industry continues to offer a greater likelihood for an abundance of job opportunities that pay well in comparison to other professions, the prospect of spending several years paying off loans for tuition represents a severe threat to future enrollment numbers at academic institutions in the U.S. A recent article from MLive, an online publication covering news in Michigan, reported on a proposal among state lawmakers to extend a student loan repayment program in an effort to keep more primary care providers in Michigan in the future. Many rural areas throughout the state struggle to attract young professionals that are able to provide high-quality medical care.

"In my district, in some cases women have to drive up to two hours to see an [obstetrician]," state Sen. John Moolenaar, R-Midland, said during a Senate committee earlier this month. "This idea of Michigan becoming a place where we have the best minds coming here to study, to train, and to stay here, I think is a goal we all share."

The role of technology in easing student loan debt concerns
Universities that offer oral health training programs may want to consider investing in dental school software to do their part in reducing the amount of money students have to pay well after graduation. For example, a dynamic student management system that makes it easier to track academic progress, grade exams and update curricula has the potential to enhance the efficiency of administrative operations. The less complicated it is to organize and measure student performance, the more likely it will be that enrollees complete their programs in the shortest amount of time possible. Graduating on time or ahead of schedule can ultimately result in less money to pay off in the long run. 

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