{"id":8687,"date":"2023-03-07T16:22:52","date_gmt":"2023-03-07T21:22:52","guid":{"rendered":"https:\/\/scholarshipowl.com\/blog\/?p=8687"},"modified":"2023-12-13T16:36:04","modified_gmt":"2023-12-13T21:36:04","slug":"gen-z-insights-briefing-83-percent-of-students-say-current-economic-conditions-affect-their-ability-to-pay-for-college","status":"publish","type":"post","link":"https:\/\/scholarshipowl.com\/blog\/gen-z-research\/gen-z-insights-briefing-83-percent-of-students-say-current-economic-conditions-affect-their-ability-to-pay-for-college\/","title":{"rendered":"83% of Gen Z Students Say Current Economic Conditions Affect Their Ability To Pay for College"},"content":{"rendered":"

Each month, <\/span>ScholarshipOwl<\/span><\/a> conducts a survey among students to develop a deep understanding of the key trends affecting Gen Z.\u00a0<\/span><\/p>\n

Given the current economic and inflationary conditions, in January 2023, we decided to focus on the impact of current economic conditions on students\u2019 ability to afford the cost of college. This research is especially important given that some studies show that some students are questioning the value of college<\/a>. In fact, a 2021<\/span> ECMC Group<\/span><\/a> survey showed that less than half of high school students want to go to a four-year college, primarily due to financial concerns.<\/span><\/p>\n

Who participated in the survey?<\/span><\/h2>\n

In January 2023, ScholarshipOwl surveyed over 9,000 high school and college-aged students on the ScholarshipOwl scholarship platform to find out the breadth and depth of the impact of economic conditions on today\u2019s students. A total of 9,108 students responded to the survey. The respondents consisted of: 63% female, 36% male, and 1% who identified themselves as other. 55% identified themselves as high school students, with the vast majority high school seniors; 37% identified themselves as college undergraduate students, primarily college freshmen; 5% identified themselves as graduate students; and 3% identified themselves as adult\/non-traditional students.<\/span><\/p>\n

Survey questions<\/span><\/h2>\n

It was apparent that the economic and inflationary conditions in the new year had affected millions\u2019 ability to afford basic goods, but how did these conditions affect student\u2019s ability to afford the cost of college?\u00a0<\/span><\/p>\n

The first survey question was \u201cHave current economic conditions affected your ability to pay for college?\u201d The overwhelming majority (83%) responded \u201cyes\u201d, that the current economic conditions have affected their ability to pay for college, with just 17% indicating no impact.<\/span><\/p>\n

\"83%<\/p>\n

As a follow-up question, we asked, \u201cTo reduce college costs, which of the following strategies are you planning on?\u201d Students selected all responses that applied to them.<\/span><\/p>\n

The vast majority of the respondents selected multiple strategies. Applying for scholarships and working part-time while attending school full-time were chosen most often. The full breakdown:<\/span><\/p>\n