- 30% claimed that cost would definitely determine their education plans while 47% said cost could possibly alter their choices.
- 45% have already started saving: 19% have saved over $5,000, 43% have saved $1,000 – $5,000, and 35% have saved less than $1,000.
- 72% responded that they would definitely or possibly prefer money for college over tangible gifts.
How much should you save? Find out with our Savings Plan Calculator. While survey respondents have a very keen insight into savings, the same cannot be said for borrowing. The survey revealed that 66% of students will definitely or possibly borrow money for college and that 40% of respondents plan to borrow 25 – 50% of the total cost. However, only 20% of those planning to borrow have researched the total amount they will have to borrow. The How Youth Plan to Fund College survey was circulated to 500 16- and 17-year-olds across the country. This is the second year the survey has been distributed.