biz journals.com – Unexpected college expenses have an impact on where students choose to go to school and if they graduate, according to a new study. (Photo: zimmytws)
Charles Schwab and 1,000 Dreams Fund, a scholarship program for young women, surveyed 1,092 men and women between the ages of 18 and 25 about how their financial knowledge affected their college experience.
Young women were more likely than young men to feel they weren’t prepared to manage their money while in college – 51 percent versus 39 percent – and 52 percent of young women said they had to drop out because of finances, per the study. The majority of female students – 68 percent – said their financial standing also impacted their school choice.
About 74 percent of students said they couldn’t afford extra college activities like study abroad programs and unpaid internships, even though the same percentage of students believe those are important to reaching professional goals.
A recent study from Thrivent Student Loan Resources found that 68 percent of college students believe they should be paying for all or most of their college education.
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