New Student Voice data offers insight into students’ financial vulnerability and their grasp of cost of attendance amid a broader push for cost transparency.
Students link trust in higher education to affordability and financial stress to their academic performance. A new round of results from Inside Higher Ed’s Student Voice survey series, out today, delves deeper into the connection between students’ finances and their success. One key finding: Most students report some level of surprise with the full cost of attending college, including but not limited to tuition and other directly billable expenses. At least a quarter of students have trouble budgeting as a result.
In another set of findings, 36 percent of students say that an unexpected expense of $1,000, or even less (see breakdown below), could threaten their ability to stay enrolled. Another 22 percent say the same of an expense between $1,001 and $2,500. This is the kind of need that many emergency aid programs are designed for, but 64 percent of respondents don’t even know if their institution offers such assistance.
