A College Ave student loan survey finds that 9 out of 10 students apply to up to 10 colleges | Tech US News

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The survey also finds that 61% of families are concerned that inflation will affect their ability to pay for schooling; include college funding in the fall application discussion

WILMINGTON, Del., November 8, 2022 /PRNewswire/ — For parents of high school seniors, the college admissions journey begins in the fall, with narrowing college lists, applications, essays, tests and important financial aid forms. For families starting the college journey, a recent College Ave survey of undergraduate parents by Barnes & Noble College Insights highlights what parents can expect and how to financially prepare their high school graduate (who will soon be in his first year of college):

  • Get organized. Most parents (90%) reported that their student was likely to apply to up to 10 schools, 31% of parents said their student applied to 6 to 10 schools. And if they are applying to so many schools, there are multiple school admissions, financial and test deadlines to know. Make sure you and your child follow them.

  • Enjoy this time. Surprisingly few families found the college admissions process stressful. Less than a third (31%) found filling out college applications stressful, and less than one in four (23%) found creating a college bucket list stressful. In fact, more than half (57%) enjoyed helping their children with their college essays.

  • Don’t ignore financial factors. When it came to the decision to choose a school, the main factors were the academic major, the location of the school and the campus environment. These three factors were ranked the highest, and total cost and a good financial aid package were the lowest of the 7 factors. That may be why the cost of college came as a surprise to nearly 7 in 10 families (71%), according to the survey. Especially given the current market—61% of parents are concerned that inflation will affect their ability to pay for college—families should include how they plan to pay for college as part of the college application conversation.

“Fall is an exciting time for many families as they begin college,” he said Joe DePaulo, co-founder and CEO of College Ave Student Loans. “When parents were asked in the College Ave survey about the three words that came to mind about their child’s college education, they said: ‘Important,’ ‘Necessary,’ and ‘Expensive.’ Our research highlights how much families value a college degree, as well as how much it could help and reduce financial surprises by having financial conversations as families begin to make their college lists.”

In addition, the survey also asked parents of current students about their top tips for student parents:

  • Encourage your child to apply for more scholarships: 79% of respondents I agree. More than half (52%) of parents said they had trouble finding scholarships for their child, so they encourage their peers to take the time to reach out to local organizations or their child’s high school guidance counselor for support. An easy scholarship to consider is College Ave’s 1000 dollars monthly sweepstakes.

  • Complete the Free Application for Federal Student Aid (FAFSA): 72% of respondents I agree. Of those families who received grants and scholarships, 30% reported that they were part of a financial aid package for their child that they likely would not have received had they not completed the FAFSA. 2023-2024 FAFSA form academic year became available October 1, 2022 – make sure you fill it out as soon as possible, as some help is first come, first served.

  • Be prepared for unexpected expenses: 71% of respondents I agree. According to parents surveyed, more than 1 in 3 found that costs related to school and activities, their child’s personal expenses, and books and supplies were higher than originally planned.

  • When looking at schools, consider affordability: 44% of respondents agrees and 59% of parents said they need to apply to no more than five colleges to make sure some schools are within your budget.

To learn more about how you can better prepare financially for college, visit: www.collegeavestudentloans.com.

About Student Loans College Ave

College Ave Student Loans started with a big vision and a simple mission – take the stress out of paying for college so students can focus on preparing for a bright future. Now a leader in financial technology lending, College Ave remains committed to using best-in-class technology and deep industry expertise to provide practical and personal solutions that give young adults a head start on their path to financial success. We offer best-in-class products at competitive prices and a customer-friendly experience from start to finish. Visit: www.collegeavestudentloans.com

About the Survey

The College Ave Student Loans survey was conducted by Barnes & Noble College Insights. A national online survey of parents of undergraduate students attending a 4-year college or university at one of the campuses served by Barnes & Noble College had 1043 respondents and was selected in September 2022. Last year, Barnes & Noble College Insights conducted more than 50 research studies and 100+ surveys of students, faculty and parents who work with one of the more than 770+ campus bookstores nationwide.

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See original content: https://www.prnewswire.com/news-releases/fall-starts-college-admissions-journey-college-ave-student-loans-survey-finds-9-out-of-10-students – application-to-do-10-school-301671629.html

SOURCE Student Loans College Ave

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