Diverse Issues in Higher Education
October 8, 2012
New
Study Finds Millennials Well Prepared for the ‘Real World’
by Lydia Lum
by Lydia Lum
A new national study of young people
suggests that the generation often regarded—and perhaps unfairly stereotyped—as
being overly coddled and too often acting entitled is actually more practical
than it is idealistic in attitudes about money and career preparation.
The recession and its lingering effects are
heavily influencing the academic choices of the Millennial generation,
according to leaders of the study of more than 5,600 people between ages 17 and
23 who are either college students or college-bound high school juniors and
seniors.
A result of this mindset lies in the reasons
given by study participants as to why they decided to apply for admission to a
particular college. The top reason was that the institution offered the
academic major the student planned to pursue, a response given by 55 percent of
participants. Other popular reasons included affordable tuition, availability
of scholarships or financial aid, likelihood of getting a job post-graduation
and an academic “fit” for the student, with responses for those reasons varying
from 51 to 41 percent.
Financial aid was particularly important to
88 percent of Black students and 87 percent of Hispanics, compared to only 76
percent of Whites. And 46 percent of Blacks and 41 percent of Hispanics were “extremely
concerned” about how to afford college, compared with 30 percent of Whites.
Meanwhile, sports teams and Greek life don’t
even crack the top 20 reasons for selecting a college, despite many
universities aggressively showcasing such offerings, notes Deborah Maue, vice
president of TRU, a Chicago-based, youth market research firm that commissioned
the study.
“Young people may still be dreaming, but
they’re thinking carefully about the risks involved with all of their
decisions,” Maue says. Her firm has worked with global brands such as Nike and
Google and organizations such as the White House Office of National Drug
Control Policy in connecting with younger audiences.
Maue adds, “Economic uncertainties have
become very apparent to young people because they have seen so many families
struggling, sometimes their own.”
The shaky economy also has shaped what young
people define as “success,” she says. Survey findings show that their top
priority—91 percent of respondents chose this—was having an “enjoyable” job or
career. Close behind were the ability to provide for their families, saving “a
decent amount” of money, being debt-free and the ability to retire
“comfortably.” These personal goals and values drew agreement from 85 percent
or more of survey participants.
Furthermore, 49 percent listed
“unemployment” as their most pressing social concern.
On the other hand, goals such as making “a
lot” of money and having many friends were listed as signs of individual
success by only 69 and 66 percent of all respondents, respectively. Even less
important was “being famous” at 27 percent.
With college affordability such an important
concern among minority participants, Maue says it wasn’t surprising to see that
33 percent of Blacks and 29 percent of Hispanics agreed that earning a degree
from a community college—which typically charges substantially less tuition
than four-year institutions—made “the most sense” for their individual career
goals. Only 19 percent of Whites viewed community college in this manner.
The survey of Millennials, conducted from
mid-April to mid-June, consisted of 70-plus questions on topics as wide-ranging
as college search and decision-making, media consumption, lifestyles and social
attitudes. Blacks made up about 16 percent of participants, Hispanics 14
percent.
Minorities, who were generally less likely
than Whites to have college-educated parents experienced in the search process
themselves, tended to seek input from multiple, trusted authority figures when
shopping for a college, according to the TRU study. Survey findings showed that
Hispanics, Blacks and Whites all considered their parents the “most
influential” people in helping them choose a school. But Blacks and Hispanics
were much more likely than Whites to get input from high school guidance
counselors, teachers, coaches and college representatives.
Among survey participants, 56 percent of
Whites had mothers who were college graduates, while that was true of only 50
percent of Blacks and 31 percent of Hispanics. And 56 percent of Whites
reported having a father who’d finished college, compared with only 36 percent
of Blacks and 31 percent of Hispanics.
Because so many first-generation
college-goers rely on adults besides their parents, “universities ought to
consider including high school coaches and teachers in their outreach,” Maue
says. “Don’t send financial aid information to just the guidance counselors.”
But regardless of race, only one-third of
the high school juniors and seniors in the study described themselves as
feeling “prepared” for college. And only 11 percent of them described the
process of obtaining financial aid as “very easy” to understand or “somewhat
easy.”
This age group is scared about college,”
Maue says. “They’re used to their parents scheduling their lives for them, so
they’re frightened about becoming independent.”
Higher education institutions can help ease
students’ transition “by overcommunicating,” she says. “Don’t just make
information available on school websites and expect them to find it by themselves.
If they need driving directions to campus, send them a map that has a big, red
‘X’ on it. Also, the net price calculator on school websites should be easy to
find, and it should be clear what is and isn’t included in the institution’s
net price.”
Released last week, the study launches TRU’s
Enrollment Insights Program and the firm’s expansion into the higher education
arena. A 30-year-old firm, TRU has previously worked with Alverno College,
Michigan State and Iowa State universities and other educational entities.
For more information about the TRU study
or to obtain a copy, visit http://www.tru-insight.com/highered
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