Survey: What Do Parents Think About Paying For College?
Survey from Discover had some interesting results. This might be a good way to get students to go home and ask their parents a similar set of questions that this survey contained. You could have students respond anonymously and then tabulate results for the class and compare to this national survey.
Here is a summary of the survey results:
- Who will be responsible for paying for college?: “When asked how much responsibility their child should have in paying for college, nearly half of parents, 46 percent, said their children should fund at least some of the cost, while 45 percent of parents said they expect their child to pay for most or all of their education.”
- Does price impact college choice?: “Forty-eight percent of parents said they were limiting which college their child attended based on price, an increase from 44 percent in 2014.”
- What impact does college major have on willingness to pay for college?: “In fact, 44 percent said they were more likely to fund their child’s education if they majored in a field that has a higher likelihood of employment, an increase from 33 percent in 2014.”
- What percentage of parents plan on helping foot the bill for their child’s college education?: “…parents continue to see the importance of their child obtaining a college education, yet fewer are planning to help pay for it compared to just three years ago – down from 81 percent in 2013 to 75 percent in 2015.”
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.