The report, just issued by Young Invincibles, a group formed by students in 2009 that tackles issues related to health care, higher education and economic security from a youthful perspective, finds that 48 percent of higher institutions in Colorado are unaffordable under what's called the Rule of 10, a standard established by the Lumina Foundation, an Indianapolis-based organization intent on making post-secondary education accessible for all Americans.
The Rule of 10 holds that students should pay no more for college than 10 percent of their discretionary income for ten years, or the earnings from working ten hours a week while in school.
When this standard was applied to various types of college attendees, the results are even worse. Only 12 percent of Colorado colleges were found to be affordable for students who work at least twenty hours per week while enrolled — a description that fits more than three-quarters of current attendees. For returning students (adult learners who are coming back to college after being in the workplace) and students who are also parents, that figure tumbles to 8 percent. And for what are characterized as housing-insecure students, no colleges in the state are ranked affordable, period.
Other damning info from the Young Invincibles: 21 percent of young Coloradans are considered to be "rent-burdened"; 30 percent live in "childcare deserts"; and following the Great Recession, Colorado experienced the eighth-highest hikes in tuition. These factors make the state's goal of having a workforce in which two-thirds of members have post-secondary degrees by 2025 that much more difficult to attain.