FINANCING HIGHER EDUCATION: A survey of 22,000 high school … · 2017. 5. 10. · on their FAFSA...
Transcript of FINANCING HIGHER EDUCATION: A survey of 22,000 high school … · 2017. 5. 10. · on their FAFSA...
A Call for Better Planning
A survey of 22,000 high school and 12,000 college students reveals meaningful di�erences between students’ expectations and reality when it comes to financing higher education.
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Award letters which include the full cost
of obtaining a degree
Personalized information provided to students prior to choosing a school,
or choosing whether to borrow
For those who do choose to borrow, education to help minimize
the total amount borrowed
Borrowing expectations among students planning on a four-year degree Borrowing expectations among students planning on a four-year degree do not match recent trends in borrowing until they are already in college.do not match recent trends in borrowing until they are already in college.
If implemented, personalized education prior to starting college could help If implemented, personalized education prior to starting college could help students make informed choices that work for their situation.students make informed choices that work for their situation.
FAFSA data can be leveraged to provide personalized advice to students FAFSA data can be leveraged to provide personalized advice to students when it is most helpful.
FINANCING HIGHER EDUCATION:A Call for Better Planning
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Students withCollegeEducated Parents
36% Not Sure
26% No
38% Yes
FirstGenerationStudents
35% Not Sure
22% No
43% Yes
First generation students are more likely than their peers whose parents went to college to say yes to receiving personalized advice based on their FAFSA data.
Few students say they are not interested in such advice.
Most students are open to receiving personalized loan advice.
41% of high school seniors
expect to borrow.
61%of college freshmen expect to borrow.
61% of students who go on to graduate probably will borrow.1
23% of high school freshmen
expect to borrow.
1st 2nd 3rd 4th
$63,000TOTAL:$ $$$
YEAR
? ?
1. The College Board, Trends in Student Aid 2016; bachelor's degree holders from a 4-year public or private not-for-profit institution, class of 2014/2015.
do not match recent trends in borrowing until they are already in college.