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UNM officials are working to help students graduate on time, while saving the University money.
University Provost Chaouki Abdallah said it would cost the University about $50,000 to graduate a student who takes the minimum 128 total credit hours within four years. But for a student who graduates after six years, it costs UNM about $91,000 to produce a degree.
“This is calculated by taking what we spend on academics each year and dividing by the number of degrees awarded,” he said in an email.
Abdallah said the four-year graduation rate at the University is 15 percent, while the six year graduation rate is 48 percent.
UNM Associate Provost Greg Heileman said one reason students may take longer to graduate is because they are taking more credit hours than necessary. He said students who graduated in the College of Arts and Sciences in the 2012 school year had an average of 163 total credit hours, and those graduating from the College of Engineering had an average of 184.
“What’s happening here is students are graduating with a lot of credit hours that they don’t need,” he said.
Heileman said UNM wants to create a better experience for freshmen in order to increase retention. He said the UNM Faculty Senate is also close to lowering the minimum amount of credit hours required for graduation from 128 to 120.
“If that happens then programs will be able to create degree plans that are 120 credit hours, which is really what a four-year degree is,” he said. “We don’t have four-year degrees at UNM. We have a four-year degree with eight excess credit hours, because all accreditation agencies nationwide, none of them require more than 120 credit hours for a degree.”
According to a statement, UNM President Robert Frank said the University is taking strides to reduce the amount of time it takes students to graduate from UNM.
“Our new approach to student success starts with that initial letter of acceptance and continues until a diploma is awarded,” he said. “Over the past 18 months, we have examined and improved every aspect of student engagement from the first contact with the University through advisement and selection of a major to involvement in campus activities and learning communities. We are trying to remove every obstacle and create a clear path to graduation in four years.”
Abdallah also said the University is making changes to help students graduate faster. Earlier this year, the University created the site degrees.unm.edu, which gives students a clear four-year roadmap to graduation, he said.
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Abdallah said UNM will work with high schools to help students prepare for college.
“We are also working with high schools and other partners to get students ready before they come to UNM,” he said. “Summer early start program is such an example. This change will also make it much easier for students to graduate in four years.”
Despite educational costs, Abdallah said it is important to focus on the value of the degree for the student.
“Ultimately, however, it is not just about the cost, but rather the value of the degree,” he said. “I think the focus on the cost of college education is misplaced unless it is placed in the larger context… The challenge is to deliver a quality education at a good cost, versus a cheap education at any cost.”