New Polls Show Economy Really Is Affecting College Decisions
Posted 25 Apr, 2009
For months now we’ve been hearing college admissions officers share their worries that the economy could mean big changes in the way students choose a college–now we are finally see these fears begin to come to fruition.
Changing Attitudes
May 1st is the final day for incoming college freshmen to accept admission to their schools of choice, and that impending deadline means they are down to their final days of decision-making.
A new survey released by the Art & Science Group and the College Board seems to be confirming what admissions officers have been talking and worrying about: students are weighing the cost-to-value ratio of each college much more carefully this year than ever before.
The survey, which included almost 1,000 students and wrapped up in mid-March, showed that over 16% of students have changed their college plans because of the current economic downturn. Though the majority of this percentage comes from lower-income families (those whose income is less than $40,000 per year), a significant number of middle ($40,000-$100,000/year) and higher ($100,000+/year) income families have been affected as well: about 16% of middle-income and 10% of higher-income families expect to change their college plans to cope with the changes in the economy.
Home Sweet Home
Many students are focused on saving room and board costs by living with mom and dad for a few more years. In fact, the survey showed that a staggering 41% are leaning towards either a public college or university, or one closer to home, while 21% are contemplating commuting to college from their family home rather than living on-campus or in off-campus apartments.
In-state tuition seems to be a factor as well. Numerous high school counselors have been reported to expect a drop in the number of their graduating seniors who will attend out-of-state institutions.
Staying Committed
Yes, college plans are changing, but I was happy to see the poll confirm that students are not giving up the college dream. A healthy 78% of students said they had never even considered putting off college attendance, and only 4% said they were seriously debating whether to start school in the fall or head off to work instead. Most students seem to agree–college may be an investment, but it is one worth making!
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding®, a nationwide company that helps families find creative ways to reduce their college costs.
photo by ldowning
Subscribe in a reader
Subscribe by Email
Related Posts
For months now we’ve been hearing college admissions officers share their worries that the economy could mean big changes in the way students choose a college–now we are finally see these fears begin to come to fruition.
Changing Attitudes
May 1st is the final day for incoming college freshmen to accept admission to their schools of choice, and that impending deadline means they are down to their final days of decision-making.
A new survey released by the Art & Science Group and the College Board seems to be confirming what admissions officers have been talking and worrying about: students are weighing the cost-to-value ratio of each college much more carefully this year than ever before.
The survey, which included almost 1,000 students and wrapped up in mid-March, showed that over 16% of students have changed their college plans because of the current economic downturn. Though the majority of this percentage comes from lower-income families (those whose income is less than $40,000 per year), a significant number of middle ($40,000-$100,000/year) and higher ($100,000+/year) income families have been affected as well: about 16% of middle-income and 10% of higher-income families expect to change their college plans to cope with the changes in the economy.
Home Sweet Home
Many students are focused on saving room and board costs by living with mom and dad for a few more years. In fact, the survey showed that a staggering 41% are leaning towards either a public college or university, or one closer to home, while 21% are contemplating commuting to college from their family home rather than living on-campus or in off-campus apartments.
In-state tuition seems to be a factor as well. Numerous high school counselors have been reported to expect a drop in the number of their graduating seniors who will attend out-of-state institutions.
Staying Committed
Yes, college plans are changing, but I was happy to see the poll confirm that students are not giving up the college dream. A healthy 78% of students said they had never even considered putting off college attendance, and only 4% said they were seriously debating whether to start school in the fall or head off to work instead. Most students seem to agree–college may be an investment, but it is one worth making!
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding®, a nationwide company that helps families find creative ways to reduce their college costs.
photo by ldowning
Subscribe in a reader
Subscribe by Email
Leave a Reply