Paying for College

Paying for College: Today’s Stats and Tips

A recent survey asked Generation Z how they plan to pay for college, including topics such as considering cost, career plans, family conversations, saving for college, and borrowing wisely.
The College Savings Foundation recently shared results from a survey asking Generation Z to share how they plan to pay for college. The 10th annual How Youth Plan to Fund College survey collected data from high school sophomores, juniors, and seniors. The results show that today’s youth are thinking a lot about cost as they consider options of where to attend college, or if to attend at all. They’re also researching well, and thinking ahead to potential career plans. Here are some standout data from the survey:

Considering Cost

Today’s students know it’s wise to consider cost when evaluating potential colleges. When making a college list, we have some tips on how to keep finances in mind.

Career Plans

Career Plans Graphic

A growing number of students are looking ahead to their potential career plans as they think about their college options. MEFA’s free college and career planning portal, MEFA Pathway, helps students learn more about themselves and then tie their own interests and skills to potential careers. Any student in Massachusetts can create a free MEFA Pathway account.

And a growing number of students are considering trade schools as an option after high school. Our recent blog gave some insight into whether a trade school might be the right choice for a student.

Family Conversations

Family Conversations Graphic

Most students are talking to their parents about paying for college, which one of the best things a family can do to prepare for college costs. College planning expert Martha Savery shares her guidance on the all-important kitchen table conversations in our short video.

Saving for College

Saving for College Graphic

Students are joining their parents in saving for college, which will only put the family in a better position when the college bill comes due. Interested in encouraging your own child to save for college? We have some helpful tips on how to make saving a family affair.

Borrowing Wisely

Students are concerned about repaying college debt, and we recommend that all families make wise decisions before they decide to borrow a college loan. We share five resources that can help students and parents make smart choices in deciding if and how to borrow a loan to pay for college costs.

Whether you’re a student or parent looking ahead to college, it’s important to have a plan. Our Planning for College webpage can help. We offer resources and guidance for every age of child, including timelines, videos, calculators, and blogs. And if you’d like to speak to a MEFA college planning expert about preparing for college, we would love to chat. You can reach us at (800) 449-MEFA (6332), Monday–Friday, 9am–5pm.