Based on an online survey conducted with high school seniors who registered for the SAT, studentPOLL found that two-thirds reported the recession is having a significant impact on them and their families. Nearly one-third reported that their parents’ income had declined, one in five indicated that their family had fallen on hard times, and one in six students reported the recession had changed their college plans.
Students’ change in plans may create a major shift in enrollment patterns
StudentPOLL found that the economic crisis had affected students’ college plans and decisions, revealing that students were giving much more consideration to:
- Attending a public university or college close to home (41 percent)
- Attending a community college or other two year program (15 percent)
- Living at home and commuting to college (one in five).
- Working part-time or more while attending college next year (nearly half).
- Attending an institution with a reputation for generous financial aid (28 percent).
The recession is having an impact on families and students across the socioeconomic spectrum, but most acutely by lower-income students and their families
Although the impact of the recession is felt across racial and economic groups, low-income families and students are especially hard hit. Lower income students were far more likely to report that a family member had lost a job (32% of those with household incomes under $50,000 versus 12% for middle income [$50,000-$100,000] and 5% for high-income students [$100,000-plus]). Lower income students were more likely than middle or high income students to indicate their family had fallen on hard times (38% compared to 26% for middle income and 11% for high income students).
Despite difficult economic circumstances and challenges paying for college, few students have given up the dream of attending college
StudentPOLL asked whether the current economic situation had encouraged students to give much more consideration to not attending college and working instead. Only 4 percent indicated they had given any real consideration to this option.
Many students have discussed with their parents financial matters related to paying for college and anxieties run high
Sixty-five percent of students surveyed indicated that they had talked to their parents about matters pertaining to the economy and their family’s ability to pay for college including:
- The "need for more financial aid to pay for college," (41 percent)
- "Spending a lot of money on college when the economy is not good" (31 percent)
- Concern about whether their parents would "have a job in the future" and "not willing to take on more debt" (one in five students)
In commenting on the findings, Rick Hesel, principal of Art & Science Group, warned, "These collective findings reveal that the class divide in our colleges and universities is being pushed even further apart by the recession and that affordability has become the defining issue in college enrollment."
