More than eight in 10 parents with college-bound teens ages 16-18 (81%) say college is “very important” to their children’s future, according to Discover Financial Services. Seven in 10 (70%) say that earning potential is more important than or just as important as selecting a major, while 21% feel that choosing a major is more important.
The majority of parents (86%) say cost is a very or somewhat important factor in their children’s choice of college; 7% say cost is not very important, and 5% say it is not at all important.
Almost half of parents (48%) feel very knowledgeable about the entire cost of a college education beyond tuition, and another 39% say they are only somewhat knowledgeable. Few parents feel not very knowledgeable (11%) or not at all knowledgeable (2%) about the total cost of putting a child through college.
Source: Discover, Carlos Minetti, President Consumer Banking, Operations, 2500 Lake Cook Rd., Deerfield, IL 60015; 224-405-1888; carlosminetti@discover.com. Also, Rob Weiss, 224-405-6304; robertweiss@discover.com; www.discoverfinancial.com.
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