This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

TD Ameritrade Gen Z Survey, 2013. (Graphic: TD Ameritrade Holding Corporation)

Nearly half (46%) of those in Generation Z say their biggest worry is having a large student loan balance when they graduate college (up from 39% in 2012), and 36 percent are concerned about being able to afford college at all, according to the 2nd Annual Generation Z Survey, released by TD Ameritrade Holding Corporation (NYSE:AMTD). When you consider that the cost of college has risen more than 1,120 percent 1 in the last 35 years, that comes as no surprise. But, the survey uncovered many more surprising insights into this group of teens and early 20-somethings.

Gen Z Goes to College … Despite Rising Tuition CostsIn spite of the climbing cost of college tuition, more than half (54%) of those in Gen Z still believe obtaining a higher education is critical to achieving success. And 64 percent agree that college is worth the cost because it helps secure employment.

The majority of those in Gen Z (72%) expect to attend college or are currently attending college, and despite the large price tag, 61 percent plan to seek an advanced/graduate degree. Only 1 in 5 have considered delaying college due to the expense.

How will they foot the bill? According to the survey, members of Gen Z plan to tap several sources to help fund their education. More than two-thirds (68%) say college will be paid for by assistance from scholarships and grants, 55 percent expect to receive some help from their parents, 46 percent say they will be paying for the expense themselves with savings or money earned while working during college years, and 44 percent anticipate assistance from student loans. Regardless of how they plan to pay, according to National Postsecondary Student Aid Study (NPSAS), 52 percent of students can expect to receive some sort of grant and 62 percent of students can expect to graduate with some education debt. 2

“While the expense of college has skyrocketed, education is still viewed as critical to establishing a career, which is why it’s more important than ever for families to create a sound plan for how they will cover the costs,” says Carrie Braxdale, managing director, investor services TD Ameritrade, Inc. 3 “There are many options for advanced planning, like 529 plans or Coverdell accounts. And for those who may not have planned ahead, there are still resources available to help. The key is for parents and kids to clearly outline how they will manage paying for college, and how that fits into other long-term financial plans.”

Sitting down with your child and developing a plan to pay for college is also a great opportunity for parents to teach financial responsibilities to their children. And the conversation may not be too tough. These teens and early 20-somethings seem to understand the importance of saving money. If given $500 a whopping 70 percent would save at least a portion of it – and 34 percent would save it specifically for college.

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,919.59 +80.85 0.48%
S&P 500 1,981.60 +9.86 0.50%
NASDAQ 4,527.5140 +19.2020 0.43%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs