Deciding to Go to College

Today, New America’s Education Policy Program released the first
in a series of College Decisions Survey briefs that analyze new survey
data about what prospective college students know about the college-going and
financing process. Part 1: Deciding to Go to College focuses on why
students decide to pursue college in the first place, and the factors students consider
when deciding to apply to a specific college. It looks at how financial
concerns are one of the major drivers in deciding whether and where to go to
college.

As college has become all but required for a well-paying career in
today’s economy, the students and families shelling out money for a college
education want to be assured they’ll see a good return on investment. According
to an online survey of 1,011 U.S. residents ages 16-40, who were largely
prospective college students (with the remainder in their first semester of
college), the top reasons to decide to go to college among the reasons listed
in the survey are: 1) To improve employment opportunities (91 percent); 2) To
make more money (90 percent); and 3) To get a good job (89 percent). In fact, 7
out of 10 students describe each of these items as very important. The survey
was commissioned by New America and conducted by Harris Poll October-November of 2014.

While financial considerations matter in deciding whether to go to
college, they also play a critical role when considering what specific college
to attend. When asked how important a list of factors are when considering a
specific college–such as the availability of financial aid, the college’s
location, the percentage of students graduating, athletics and sports
teams–respondents are most concerned about the majors and programs that are
offered (93 percent ranked this as important or very important). Following
closely behind this main factor, students are most concerned about the availability
of financial aid and how much a specific college costs (88 percent rated this
as an important or very important factor). In fact, when pressed to list the single most important factor, two out of three students (63 percent) were most
concerned with how much a specific college costs.

“Ideally, we like to think of college as an abstract opportunity
for learning, development, and growth,” explained Senior Policy Analyst, Rachel
Fishman, the report’s author. “College can and should be those things, but cost
is an unavoidable context. As our survey shows, financial considerations are
oftentimes the driving factor behind the decision whether and where to go to
college.”

Institutions and policymakers must be aware of students’ price
concerns as they think about how best to promote access and success, including
crafting policies that drive down the cost of college and better target
financial aid to the low- and moderate-income students who need it most. In
addition, policymakers should focus on using data to help students better
understand the return on a college degree.

More About the College
Decisions Survey

New America commissioned Harris Poll to create and administer the College
Decisions Survey. A national online survey was conducted between October
7th and November 3rd, 2014. The sample included 1,011 completed interviews and
consisted of U.S. residents ages 16 to 40 who do not have college degrees and
plan on enrolling in a two-year or four-year college within the next 12 months
(n=747). The survey also included individuals who were in the first
semester of their first year at a two-year or four-year college (n=264).

The five College Decisions Survey briefs will be released
during the spring and summer of 2015 and will cover topics including:

• Financial concerns during the postsecondary decision-making process
• The application process for different types of students
• Students’ familiarity with financial aid
• Students’ ability to estimate their loan debt and monthly payments
• The college search process and helpfulness of various common resources