Are you nervous about your ability to afford your college education? If the recent survey by UCLA is a benchmark for a growing trend, it’s safe to say that two-thirds of you are concerned about affording college.

UCLA conducts a survey every year about the perceptions and mind-set of the country’s incoming freshmen classes. This year’s survey found that two-thirds of freshmen said they were either somewhat or very worried about their ability to finance their college educations. With tuition and fees up and employment down, the effects of the economic downturn seem to be hitting even the most starry-eyed and optimistic college student.

Concerns surfaced from family finances to the cost of tuition:

  • 78% plan to pay for their first year of college at least in part from family resources
  • 42% said cost was a “very important” factor in choosing which college to attend
  • Nearly 67% of freshmen at four-year schools said they had at least some concerns about paying their tuition bills, more than any other freshmen class in the last 12 years.
  • Financial aid played an important role in a college choice for nearly 45% of the freshmen

I think the the survey’s findings could actually be a good thing! Maybe these stats will shed some light on the need for students to consider the value they get out of their college education, and not just the brand name of the university or the obligation to attend a 4-year college when their career goals only require an Associate’s degree.

If two-thirds of students are worried, it could mean that they’re considering graduating in 3 years to save money. They could be applying for more scholarships. They could be going to community college. The other third could be setting themselves up for a lot of student loan debt.

Are you worried about affording college? What are you doing about it?