The younger generation is taking a more cautious approach to college tuition, according to the nonprofit College Savings Foundation. When asked if they would take on debt to cover college bills, only 11 percent of the high school sophomores, juniors and seniors who participated in the survey said yes.
That’s down significantly from 20 percent just last year. Seventy-nine percent of the respondents said costs are a factor on college choice, with 39 percent saying high costs caused them to change their path and enroll in state schools, community colleges and vocational and career schools.
Fifty-four percent have already taken jobs to earn money for higher education, and 85 percent said they would work during college, with 20 percent planning on holding a full-time job. As these kids are well aware, the total amount of student debt stands at $1.4 trillion.