Making money matters when college-bound teens think about their
majors, but following a childhood dream means more, according to an
independent survey of college-bound teenagers and their parents.
The survey looks at what factors into important college decisions
and was commissioned by Discover Student Loans, one of the largest
originators of private student loans in the country.
Parents and their children rank influencing factors differently
when choosing a college major. Parents are much more focused on
increasing opportunities for employment after graduation, while
children are more interested than their parents in the potential to
make a lot of money.
Students Parents
When declaring a major, what should
play a leading role when making a decision?Among the most
popular answers:
32% 31% Dreamed of a particular career since childhood 29% 41% Job
opportunities/availability upon graduation 25% 15% Earning
potential or the likelihood to make a lot of money
“A college education has lifelong benefits. Our survey looks at
the discussions families are having around education and how
aligned they are around important college decisions,” said PK
Parekh, vice president for Discover Student Loans. “It’s apparent
that most parents and their college-bound students are thinking
about future careers and earning potential.”
Why Go to College?
As families discuss higher education, parents and their
college-bound children are more united when it comes to the
motivations for attending college – both have getting a job in
mind. Both groups also place becoming independent and attending
parties at the bottom of the list.
Students Parents
What
are the primary motivations for attending college?
LeadingAnswers
28% 34% Have a career in mind and need the proper coursework 26%
26% Have a career in mind that requires an advanced degree
LeastChosen
7% 7% Gain independence 2% 1% Make new friends and go to campus
events/parties
Getting a Job versus Getting Paid
Although both students and their parents believe that getting a
job after college is important, they disagree on what students
should gain from a college degree. While students want a job that
pays well, parents hope their children graduate with skills that
can apply to a wide array of jobs.
Students Parents
What is the biggest benefit from attending
college? 38% 29% Being ready to get a job that pays well 23%
38% A degree that allows one to work in a variety of fields/jobs
14% 11% The opportunity to go onto graduate school 11% 13% Learned
something that could not have been learned without college
Both groups agree that gaining independence and expanding social
circles are not the primary focus of what students should get out
of college -- they received the lowest responses.
Students Parents
What is the biggest accomplishment
after graduating from college?Among the least popular
responses:
8% 3% Independence from parents 4% 3% The ability to call
themselves a college graduate 1% 1% A new group of friends that
expands the social circle
“It’s clear from our findings that parents and children from the
same household are not always aligned on important college
decisions,” said Mr. Parekh. “We encourage families to start the
discussion process early and research all options and outcomes from
choosing a major to paying for a college education.”
About the Survey
The national survey was conducted in March 2013 by the Toluna
Group, an independent survey research firm. One thousand (1,000)
Americans were interviewed online – 500 parents and 500 of these
parents’ college-bound high school juniors and seniors, and the
results have a +/- 3 percentage points margin of error at 95
percent confidence.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and
payment services company with one of the most recognized brands in
U.S. financial services. Since its inception in 1986, the company
has become one of the largest card issuers in the United States.
The company operates the Discover card, America's cash rewards
pioneer, and offers home loans, private student loans, personal
loans, checking and savings accounts, certificates of deposit and
money market accounts through its direct banking business. Its
payment businesses consist of Discover Network, with millions of
merchant and cash access locations; PULSE, one of the nation's
leading ATM/debit networks; and Diners Club International, a global
payments network with acceptance in more than 185 countries and
territories. For more information, visit
www.discoverfinancial.com.
Survey Results
National survey of 500 adults and 500 children
16 to 18 years old
who are planning on going to college.
Conducted March 2013 by Toluna Group
Margin of sampling error: +/- 3 percentage
points with a 95 percent level of confidence
Commissioned by Discover Student Loans
Motivations for Attending
College:
Parents - What do you think are some of your child’s
motivations for attending college? Select all that apply.
25% - His/her parents/family expect him/her to attend
24% - His/her friends are going to college 24% - He/she wants to
learn more about him/herself 53% - He/she wants to gain
independence 35% - He/she plans to pursue a career but needs to
take classes to decide which career to choose 65% - He/she has a
career in mind and needs to gain the skills required through
coursework
45% - He/she has a career in mind that
requires an advanced degree, so an undergraduate degree is a
necessary part of the process
39% - He/she wants to explore various opportunities and fields of
study 4% - He/she wants to delay getting a job as long as possible
16% - He/she feels like it’s just
something he/she is supposed to do
19% - He/she wants to make new friends and go to campus
events/parties 23% - He/she wants to have the opportunity to
experience things his/her parents didn’t 1% - Other 1% - I don’t
know 0% - None of the above
Teens - What are some of your motivations for attending
college? Select all that apply.
34% - My parents/family expect me to attend 28% - My
friends are all going to college 27% - I want to learn more about
myself 54% - I want to gain independence 35% - I plan to pursue a
career but need to take classes to decide what career I should
choose
60% - I have a career in mind and need to
gain the skills required through coursework
45% - I have a career in mind that
requires an advanced degree, so my undergraduate degree is a
necessary part of the process
41% - I want to explore various
opportunities and fields of study
5% - I want to delay getting a job as long
as possible
26% - I feel like it’s just something I am
supposed to do
33% - I want to make new friends and go to
campus events/parties
25% - I want to have the opportunity to
experience things my parents didn’t
2% - Other
1% - I don’t know
0% - None of the above
Parents - Now, if you had to choose only one from the list
below, what do you think is your child’s primary motivations for
attending college? Select one.
1% - His/her parents/family expect him/her to attend
1% - His/her friends are going to college 2% - He/she wants to
learn more about him/herself 7% - He/she wants to gain independence
13% - He/she plans to pursue a career but needs to take classes to
decide which career to choose 34% - He/she has a career in mind and
needs to gain the skills required through coursework 26% - He/she
has a career in mind that requires an advanced degree, so an
undergraduate degree is a necessary part of the process 10% -
He/she wants to explore various opportunities and fields of study
0% - He/she wants to delay getting a job as long as possible 2% -
He/she feels like it’s just something he/she is supposed to do 1% -
He/she wants to make new friends and go to campus events/parties 2%
- He/she wants to have the opportunity to experience things his/her
parents didn’t 1% - Other (please specify)____________
Teens - Now, if you had to choose only one from the list
below, what is your primary motivation for attending college?
Select one.
2% - My parents/family expect me to
attend
2% - My friends are all going to
college
2% - I want to learn more about myself
7% - I want to gain independence
12% - I plan to pursue a career but need
to take classes to decide what career I should choose
28% - I have a career in mind and need to
gain the skills required through coursework
26% - I have a career in mind that
requires an advanced degree, so my undergraduate degree is a
necessary part of the process
12% - I want to explore various
opportunities and fields of study
1% - I want to delay getting a job as long
as possible
3% - I feel like it’s just something I am
supposed to do
2% - I want to make new friends and go to
campus events/parties
3% - I want to have the opportunity to
experience things my parents didn’t
1% - Other
Declaring a Major:
Parents - When it comes time to declare a major, which of the
following do you think should play a leading role in your child
making a decision? Select one.
2% - A family member or friend has that major and has
a job your child is interested in pursuing 31% - Your child has
dreamed of a particular career since childhood 15% - Earning
potential or the likelihood to make a lot of money 41% - Job
opportunities/availability upon graduation 1% - One that requires
the least amount of coursework 5% - Other (please specify)_______
4% - Not Sure
Teens - When it comes time to declare a major, which of the
following will be the primary factor when making a decision? Select
one.
6% - A family member or friend had that
major and has a job I would like
32% - I have dreamed of a particular
career since childhood
25% - Earning potential or the likelihood
to make a lot of money
29% - Job opportunities/availability
2% - One that requires the least amount of
coursework
5% - Other (please specify)_______
Accomplishments for Going to
College:
Parents - After your child graduates from college, what do
you hope he/she has accomplished? Select all that apply.
63% - Is ready to get a job that pays well 63% - Has
a degree that allows him/her to work in a variety of fields/jobs
49% - Has learned something that he/she could not have learned
without attending college 39% - Is independent from parents 24% -
Has a new group of friends that will have expanded his/her social
circle 39% - Is able to call him/herself a college graduate 37% -
The opportunity to go onto graduate school 1% - I don’t know 2% -
Other (please specify) _________
Teens - After you graduate from college, what do you hope to
have accomplished? Select all that apply.
65% - Be ready to get a job that pays
well
49% - Have a degree that allows me to work
in a variety of jobs
48% - Have learned something that I could
not have learned without attending college
46% - Be independent from my parents
32% - Have a new group of friends that
will have expanded my social circle
43% - Be able to call myself a college
graduate
37% - The opportunity to go onto graduate
school
0% - I don’t know
1% - Other
Parents - Now, if you had to choose only one from the list
below, after your child graduates from college, what do you MOST
want him/her to have accomplished? Select one.
29% - Is ready to get a job that pays well 38% - Has
a degree that allows him/her to work in a variety of fields/jobs
13% - Has learned something that he/she could not have learned
without attending college 3% - Is independent from parents 1% - Has
a new group of friends that will have expanded his/her social
circle 3% - Is able to call him/herself a college graduate 11% -
The opportunity to go onto graduate school Other (please specify)
_________
Teens - Now, if you had to choose only one from the list
below, after you graduate from college, what do you MOST want to
have accomplished? Select one.
38% - Be ready to get a job that pays
well
23% - Have a degree that allows me to work
in a variety of jobs
11% - Have learned something that I could
not have learned without attending college
8% - Be independent from my parents
1% - Have a new group of friends that will
have expanded my social circle
4% - Be able to call myself a college
graduate
14% - The opportunity to go onto graduate
school
0% - Other
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