Gen Z high school students are determined to choose the higher education option that will lead them to the jobs and careers they want.
A new survey from the College Savings Foundation found that Gen Z high school students are saving and working toward paying part or all of their higher education expenses. They want more pragmatic options tied to real work experience and want to finish their requirements faster. 82% plan to work—full-(23%) or part-time (59%) while attending higher ed. When asked to define their ideal higher education path, the following were the top three answers:
- Classes based on practical work experience
- Classes with competency-based testing
- Getting credit for work experience in conjunction with a higher ed institution.
As these results indicate, 63% of high schoolers think about Career and Technical Education (CTE) in the same way they think about college as options for higher education.
Funding post-secondary education
Along with higher costs, 67% of respondents are concerned about student debt. Students are looking for more cost-effective options. One out of five students are changing their higher education choice based on their desire to avoid debt. To reduce reliance on student loans, students are making choices to reduce their costs by:
- Saving more money—21%
- Working while in school— 17%
- Attending community college—15%
- Enrolling at an instate school—12%
- Living at home—12%
While they are independent minded, 78% of Gen Z students have discussed funding their post-secondary education with their parents. 41% of students said they had discussed their intended career path with their parents. More than a quarter (28%) have changed their plans as a result of the pandemic with 30% studying closer to home, 27% starting at community college and transferring to a four-year school, and 16% pursuing trade or technical training.
When asked about the importance of traditional colleges, the top-ranked response was that the student’s intended career required more technical/theoretical and/or liberal arts courses they could only get from a traditional four-year college or university. The second-ranked response was that the traditional degree would be a more valuable credential over the course of their lives and careers.
Additional findings include:
- 22% are planning to take a gap year, and 65% of those will use it for work
- 51% plan on receiving some financial aid
- Only 23% plan to borrow money, although 41% say it’s possible they may need to.
This new survey reveals how the higher ed choices made by Gen Z students are more cost-conscious and more tightly focused on career goals than pre-pandemic students. With higher- ed accumulated student debt such an overwhelming issue, it is not surprising that students are looking to accelerate their learning augmented by practical experience.