"The shift we've seen since the last time we conducted this study in 2020 reflects meaningful progress in how families are preparing for education after high school. Families are motivated and engaged in the planning process, but that hasn't consistently translated into more informed decision-making."
"Although savings are up from an average of $26,266 in 2020 to $42,307 in 2026, only 38 percent of families have discussed expected salaries in the student's anticipated field of study, and even fewer (28 percent) have discussed how those potential earnings compare to the cost of college."
A survey by Sallie Mae and Ipsos reveals that 72 percent of high school seniors plan to pursue associate or bachelor's degrees, up from 63 percent in 2020. Families show improved preparation for college applications, with 85 percent taking steps like campus tours or meeting counselors, compared to 77 percent in 2020. Average family savings increased from $26,266 to $42,307. However, significant gaps remain in financial planning: only 38 percent of families discussed expected salaries in their student's field, and just 28 percent compared potential earnings to college costs. Families also lack information about financial assistance options like scholarships and loans, indicating that increased college interest has not translated into comprehensive financial decision-making.
#college-enrollment-trends #education-financing #family-financial-planning #student-loan-preparation
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