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Today, the education system of the country is facing different and chronic challenges that require timely attention. It is important for the policy makers to focus on the concerns of the students at both college and university level and provide better interventions to handle learning concerns. It is worthy to mention that the low retention rate at colleges and universities is one major challenge that hinders the path of development at an extensive level. Here the focus is to critically analyze the issue of low retention rate of students to offer some feasible solutions.

Retention rate is determined as the prominent indicator to evaluate the performance of the educational institute. The concept of retention rate is recognized as the percentage of the students of first-year that enroll in the same institute the following year ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"5yYdXhvs","properties":{"formattedCitation":"(Burrell, 2018)","plainCitation":"(Burrell, 2018)","noteIndex":0},"citationItems":[{"id":1739,"uris":["http://zotero.org/users/local/lMSdZ3dY/items/7L5YCAY8"],"uri":["http://zotero.org/users/local/lMSdZ3dY/items/7L5YCAY8"],"itemData":{"id":1739,"type":"webpage","title":"What is a Retention Rate for Colleges and Universities?","container-title":"ThoughtCo.","author":[{"family":"Burrell","given":"Jackie"}],"issued":{"date-parts":[["2018"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Burrell, 2018). It is simply categorized as the indication that how students are satisfied in their respective colleges and universities. The problem of low retention rate is getting intense every day that requires immediate and proper line of action. It is crucial to figure out the actual reasons for the growing problem of low retention rate in colleges and universities. Realization of the problem helps to propose vital solutions to better tackle the entire scenario.

There are many different factors that play a critical role when students are thinking about to select college or university. The retention rate of the educational institute is identified as an effective factor to make better inferences about education. Financial aid or pricing is one major component that contributes to the whole growing situation of low retention rate in colleges and universities. Heavy expenses of learning and attending educational institutes make it difficult for the students and their families to stick to the same institute and graduate ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"hqd33ApQ","properties":{"formattedCitation":"(Powell, 2018)","plainCitation":"(Powell, 2018)","noteIndex":0},"citationItems":[{"id":1740,"uris":["http://zotero.org/users/local/lMSdZ3dY/items/JDIVLG6E"],"uri":["http://zotero.org/users/local/lMSdZ3dY/items/JDIVLG6E"],"itemData":{"id":1740,"type":"webpage","title":"What You Need to Know About College Tuition Costs","container-title":"U.S. News","author":[{"family":"Powell","given":"Farran"}],"issued":{"date-parts":[["2018"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Powell, 2018). There are many low-income students who are not even eligible to fit into the criteria of financial assistance set by the colleges and universities.

Changes in the financial aid package made it difficult for the students to handle their overheads and eventually they shift to the sophomore year. Students have to face many financial challenges that appeared in the form of high tuition fees, expensive meal plans, and residence expenses, etc. The high budgeted campus education makes it difficult for the financially weak students to properly handle the cost of education that eventually appeared in the form of low retention rate. There is a major gap exists between the amount of funding and the high pricing in the form of tuition fees. The growing cost of education is troubling for the students that influence the graduation rate of students in the country. It is also observed that the absence of proper planning makes it difficult to offer affordable meal plans for the students. It is obligatory for the policymakers to observe the entire situation and offer better strategies to address the problem of low retention rate ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"vOsUCQJH","properties":{"formattedCitation":"(Selingo, 2017)","plainCitation":"(Selingo, 2017)","noteIndex":0},"citationItems":[{"id":1741,"uris":["http://zotero.org/users/local/lMSdZ3dY/items/DM2VNWLR"],"uri":["http://zotero.org/users/local/lMSdZ3dY/items/DM2VNWLR"],"itemData":{"id":1741,"type":"webpage","title":"Why Universities Are Phasing Out Luxury Dorms","container-title":"The Atlantic","author":[{"family":"Selingo","given":"Jeffrey"}],"issued":{"date-parts":[["2017"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Selingo, 2017). Cost is the major concern that is rising as a critical problem in the case of higher education. There is a need for developing proper intervention programs in colleges and universities that provide necessary and timely assistance to students.

To conclude the discussion about the issue of low retention rate in colleges and universities, it is mandatory to mention that financial aspects are one major concern in this manner. There is a need to offer better and low-cost educational resources to students, so they can better deal with their educational expenses. The active role of federal and state governments is vital to offer better funding plans for low-income students to enhance the domain of retention rate in colleges and universities.

References

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Burrell, J. (2018). What is a Retention Rate for Colleges and Universities? Retrieved from https://www.thoughtco.com/what-is-a-retention-rate-3570270

Powell, F. (2018). What You Need to Know About College Tuition Costs. Retrieved from https://www.usnews.com/education/best-colleges/paying-for-college/articles/what-you-need-to-know-about-college-tuition-costs

Selingo, J. (2017). Why Universities Are Phasing Out Luxury Dorms.