- Nearly 4 out of 5 college students are working while attending school, with the average student working 19 hours per week during the school year.
- The majority of students (62%) have set a budget to keep track of their expenses, and 77% say they pay their own credit card bills.
- Students are footing the bill for a number of their own college-related expenses:
|Expense||% of students who say||% of students who say|
|they’re responsible for||their PARENTS are responsible for|
|the cost||the cost|
|Travel/transportation to and from school||59%||29%|
- The only expense that parents are significantly more likely to pay is students’ monthly cell phone bills. 60% of students say that their parents pay their monthly cell phone bills, vs. 35% of students who pay it themselves.
- The average student spends $513 on back-to-school shopping, and male students spend an average of $246 more than female students. College freshmen spend the most, spending an average of $678 on back-to-school purchases.
- A number of different sources fund tuition and housing:
- When asked who is responsible for covering the cost of tuition, 22% of students say that their parents pay; 18% of students pay it themselves; 16% say that a scholarship covers the cost; and 41% say that financial aid funds their tuition costs.
- When asked who is responsible for covering the cost of housing, 30% of students say their parents pay; 31% students of students pay it themselves; 5% say that a scholarship covers the cost; and 15% say that financial aid funds their housing costs.
- The cost of college life takes students by surprise – 61% say that college is more expensive than they thought it would be.
- Money-related issues top students’ list of biggest concerns while in school, above making friends (21%) and planning for professional/graduate school (41%) :