FastWeb Users Talk Finances

In this economy, both students and parents are talking about finances more than ever.

By Kathryn Knight

April 21, 2009

FastWeb Users Talk Finances

Throughout the country, the economy seems to be cropping up in every conversation. In fact, the economy has students and their parents talking about finances more than ever. A survey of FastWeb users revealed that 57.1% of high school juniors and seniors talked with their parents just last week about finances for college.

As the reports for a grim outlook over the next few years continue to surface, 38.2% of students say their parents are expecting them to attend a less expensive school. To further save, 26.9% of FastWeb users are considering attending a community college for the first two years and then transferring to a four-year institution.

While parents seem to be willing to shell out money for tuition, more and more students are being expected to pay miscellaneous expenses. In fact, 41.5% of students polled said they anticipate paying for room and board, textbooks, and other living expenses when they enroll in school. During school, 34% of FastWeb users are definitely getting a job, and roughly 38% of those students will work an average of 20 hours per week.

For students already enrolled in college, expectations to help pay for their education have risen substantially due to concern over the economy. About 42% of FastWeb users say their parents are expecting them to contribute more financially. To make matters worse, 29.6% of students have considered taking time off school in order to save more money. And while less than half of high school students intend on getting a job during school, the reality is that 54.4% of students in college hold a job in addition to going to school.

While high school students forecast that they’ll have to contribute more financially to their education, college students show that it’ll cost more than just money. Rather, students in college can expect to spend a majority of their time balancing school work with jobs as economic conditions worsen.

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