Consider this: Parents helping with their child’s college search may define “affordability” differently than some higher ed leaders.
Nearly half of parents surveyed by higher ed consulting firm EAB said “affordable” means their students will graduate without any debt. Even more parents defined “affordable” or “manageable” as taking on only a small amount in loans. Seeing their children graduate with little or no debt was the No. 1 indicator of an institution’s value.
Perhaps not surprisingly, parents identified cost as their top college concern, followed closely by two other financial matters: finding scholarships and compiling debt. A large number of parents are also anxious about simply understanding the full cost of higher education, the survey found.
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Beyond debt levels, the top indicators of an institution’s value revolve around career outcomes, including strengthening students’ prospects for a fulfilling or well-paying career, job placement and internship opportunities. Parents were far less concerned about a school’s graduation rates and whether their children would find like-minded friends as value indicators.
Colleges and universities can help parents navigate higher ed finances with “early and direct communication” about tuition, fees and housing, the report advises. While eight in 10 parents wanted to remain informed about cost, two-thirds were also looking for information about academics. For example, when asked what should be available on a college’s website, parents’ No. 1 response was information about students’ potential majors and minors.
Beyond cost in the college search
Issues of well-being—such as personal safety and mental health—are also top priorities for parents during the college search. When asked what makes a safe campus, here is the number of parents who cited:
- Helpful/approachable campus police: 70%
- Low or no instance of sexual assault: 65%
- Low or no property crime: 57%
- Support for mental health and well-being: 56%
- No history of gun violence: 54%
- Support of physical well-being: 49%
- Freedom to express thoughts and values: 35%
However, Black parents were much more likely than white parents to cite a college’s commitment to diversity, equity and inclusion and providing their children with a sense of belonging as signs of a safe campus.
Next steps for college leaders
The EAB survey’s findings don’t come without some recommendations for addressing parents’ concerns:
- Build more robust communications: Coordinate the approach for reaching parents across channels, including email, mail and web.
- Identify and reach parents early: Half of parents want outreach by their child’s sophomore year; a third want outreach by their child’s first year. Consider getting in touch with parents during the inquiry phase.
- Encourage families to discuss cost: To inform these conversations, institutions should provide parents with information about career outcomes and academics.
- Convey a sense of belonging: Help families feel welcome by representing students from a variety of backgrounds and highlighting a broad range of clubs and activities.
