A new survey from Credit Sesame reveals that Millennials see more value in college, and are more willing to accept debt to pay for it, than the previous generation, Gen X.
Millennials, who are born between 1981 and 2004, see more value in a college degree than those in Gen X, born between 1964 and 1980. Millennials are also paying more attention to what they study to get the most out of a degree. One third of millennials considered salary when selecting a college major, compared to only 14 percent of Gen X.
The newer millennial generation is also more likely than Gen X to pay more for college. More than 25 percent of Millennials attended schools where tuition was $25,000 or greater, compared to just six percent of Gen X. By contrast, half of Gen X paid less than $10,000 a year for college, while fewer Millennials (27 percent) attended colleges under $10,000 a year.
Even with higher costs, millennials still see the value of a four-year degree. When asked if it’s worth the price, 76 percent said yes, while 68 percent of Gen X reported the same.
The survey comes out just after the debut of ionMatch, a new service that allows students to find and compare schools by degree, location, price, major, and ROI. The tool gives the information needed to make informed decisions on college and career.
For more information about student loan management tools, check out iontuition.com. We invite you to watch this short overview video that explains the benefits of iontuition.
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