More than half of college freshmen (53%) took out loans to fund their schooling in 2010, up from 49% who did so in 2008. This is the highest level in a decade, according to the Higher Education Research Institute at UCLA. Nearly three in four (73%) depended on grants and scholarship to help with college costs in 2010, up from 70% in 2009.
Six in 10 college freshman (62%) cite cost as a “very important” factor in determining which college to attend. Some 5% say their fathers are unemployed and 9% have unemployed mothers. These financially-strapped students are almost as likely as freshmen with no financial concerns to have been accepted by their first-choice college in 2010 (78% vs. 80%), but are less likely to have actually enrolled in that school (55% vs. 69%).
Freshman who say the economy has impacted their college plans also are less likely to attend a school more than 100 miles away from home (44% vs. 55%) but more likely to live with family members than on-campus (18% vs. 11%).
Three in four freshman (73%) feel the primary benefit of attending college is that it increases earning power, up from 53% who felt this way in 1971. Other “very important” reasons freshman attend college include to learn about things that interest them (83%), gain a general education and appreciation of ideas (73%), to prepare for graduate school (60%), and to become a more cultured person (51%).
Three in 10 (31%) indicate there is a “very good chance” they will volunteer in college. A similar percentage (32%) believe there’s a “very good chance” they will study abroad during their college years. [Education]
Source: Higher Education Research Institute at UCLA, Sylvia Hurtado, Director, 3005 Moore Hall, Box 951521, Los Angeles, CA 90095; 310-825-1925; www.heri.ucla.edu.
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