Posted by admin on February 6th, 2010 in College, Education

About two-thirds of incoming college freshmen have said they had “some” or “major” concerns about their ability to pay for their education.  John H. Pryor, director of the Cooperative Institutional Research Program at UCLA says, “We expected that, given what we were seeing last year in the economy, we would see some significant changes in how finances were impacting people’s ability to pay but what was more surprising was that it goes beyond just that into other areas.”

The Survey

The survey, which has been conducted for 44 years, asked about 220,000 incoming students at 297 campuses questions on everything from beer drinking habits and religious and political preferences to anticipated major and life goals.   Here are some of the results:

• the number of students who had 1 or more parents un-employed was at it’s highest since 1979
• fewer students reported working as high school seniors
• were more likely to weigh financial factors in choosing a college (41% said the cost of their school was very important reason for choosing it)
• 44% said the offer of financial aid was very important reason for attending
• factor most often cited for choosing a school wast that its graduates got good jobs (56%)

Increasing Debt

All this points to increasing debt upon graduation.    How will these kids manage moving into the work world with that kind of debt on their shoulders?  I think it’s worth thinking of alternatives.  I would like my kids to have a clean slate upon graduation and not be burdened by debt.  I know this isn’t possible for everyone but it is a good goal, don’t you think?

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