More than nine in 10 teens (91%) are enrolled or plan to enroll in college, and 68% expect to pursue an advanced degree, such as a master’s or Ph.D., according to TD Ameritrade.
Even though 80% of teens believe a college education is essential to future success, many aren’t willing to go into debt in order to achieve this goal. Only 19% feel the tuition from a “big name” school such as Harvard, Yale, or Princeton is worth the expense, with an additional 15% saying big name schools are not worth the cost because they don’t guarantee a job.
Two in three teens (68%) are saving a portion of their own money to pay for college, up from 62% of teens who did so in 2009. Nearly half of teens (48%) say their parents regularly put aside money for their college tuition, more than double the number of adult respondents (26%) who said their parents did the same when they were teens.
Source: TD Ameritrade, Stuart Rubinstein, Managing Director, Online Engagement, 31 W. 52nd St., New York, NY 10019; 212-827-7000; stuart.rubinstein@tdameritrade.com; www.tdameritrade.com.
© Copyright 2011, EPM Communications, Inc. May not be reproduced without written consent of publisher.