The American Institute of Architects (AIA) has released a new study examining the impact of student debt across different demographic groups in the architecture industry.
The organization used the research company Ipsos to conduct an interview survey of over 700 members who provided insights on how everything from employment to life choices was affected by the repayment of educational loans.
AIA EVP and CEO Lakisha Ann Woods said: "This data provides critical insight into how student debt is harming the profession. Through a better understanding of how debt impacts different demographic groups among our membership, this data will help us break barriers to the profession that disproportionately impact Black, Indigenous, and people of color. Our goal is to propel all architects to new professional heights."
Among other data, the survey found:
Some of the life choices made as a result of their financial burdens were reported to include:
The AIA said their survey also found that nearly half (44%) of all members who borrowed money for college have considered leaving the field or have already done so.
"The high costs of education, especially as the profession requires study beyond a four-year college degree, coupled with the financial strain that can be caused by the licensure process, are real deterrents to many considering a career in the profession," former President Peter Exley stated in his appeal to Congress last year. "AIA is committed to working with all members of Congress to find solutions that will reduce the student loan debt burden, which will also allow us to attract greater diversity and talent to the profession."
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