College Student Outlook for Fall 2022
- Cost (71%) is the most important factor when deciding on a college, followed by majors offered (63%) and academic quality (59%)
- Of respondents attending or preparing to attend college, nearly two-thirds hoped for post graduation factors that set them up for success such as getting a well-paying job (73%) and obtaining skills they can use in their professional life (66%) versus personal factors such as enjoying their time in college (42%) and finding a close community or group of friends (39%)
- Only 27% of respondents who are attending or planning to attend college stated they explored private student loans and only 16% actually used them.
- Of respondents who took out loans, nearly half (49%) indicated that it was due to their school aid package being less than they anticipated.
Overview: Young people stare into a fast-changing horizon as they contemplate post-Diploma plans. As “value of college” op-eds abound, we have less debate about how to remedy an overvalued college experience.
State of play: Between innovation in affordability, and completely alternative paths, we need to simultaneously listen to young people while guiding them toward new options to launch their futures affordably.
So: Anovaa and Generation Lab conducted original polling on how young people view the college, loan and professional landscape. This polling serves as a “baseline” with regard to a strategy to probe, diagnose, and innovate towards smart and successful solutions to the challenge at hand.
The Generation Lab, a Washington D.C. based a polling and research firm, in partnership with Anovaa, conducted a survey of 614 young people, age 18-24 regarding their views surrounding the value of college, affordability, financing methods and motivating factors.
College students returning in the fall are more motivated than ever to evaluate their decisions. Read the full report now.