New Poll Reveals Economy Forcing Teens To Change College Plans
Junior Achievement/Allstate Foundation Survey Takes Teen Pulse on Personal Finance
On May 1, high school students will send their tuition deposit checks to the college of their choice, but many students have had to change their plans due to the economic downturn. According to the results of the 2009 “Teens and Personal Finance” Survey conducted by Junior Achievement and The Allstate Foundation, the economy is causing many teens to rethink their college plans. The Teens and Personal Finance Survey monitors the attitudes and behaviors of teens about personal finance concepts such as saving, spending, investing and using credit.
The survey’s key findings include:
- More than half of teens surveyed (55 percent) said their college plans had changed due to the economy.
- More than a third (37 percent) said they would attend college in their home state to save on tuition costs out of state.
- Nearly a third (32 percent) said they were working more to pay for college.
- Eighteen percent said they were going to attend a community college instead of a four-year institution.
Demonstrating that students already in college are feeling the economic pinch as well, a recent Sallie Mae study showed that up to 30 percent of students who used credit cards for tuition, books and other direct college expenses last year charged an average of $2,200, up from $942 four years ago – an increase of 133 percent. The study suggests that students are using credit cards instead of other types of financial aid, including grants and private loans. And, recent reports suggest that many college graduates are entering the workforce saddled with more college debt than they can realistically expect to repay, given the current job market. According to FinAid.com, a Web site specializing in financial aid, the average cumulative debt among graduating college seniors is about $22,500.
“Regardless of the economic climate, teens need to understand and be able to apply basic money management skills – such as budgeting, saving and investing – so they can make appropriate financial decisions, including around how to pay for college,” said Jack E. Kosakowski, president of Junior Achievement USA. “Junior Achievement infuses age-appropriate financial literacy concepts throughout our K-12 curricula so that students learn how to make wise money management habits from the start.”
Junior Achievement and The Allstate Foundation have partnered to create personal finance teaching tools that parents can use to talk to their children about the importance of learning and using sound money management skills – including how to pay for college. The 12 lessons are free and downloadable at: http://www.ja.org/programs/programs_save_usa_materials_parents.shtml.
The 2009 Teens and Personal Finance poll was conducted by Opinion Research Corporation the week of February 23, 2009 and surveyed 1,000 U.S. teens ages 12-17 via telephone. Its margin of error is +/- 3.2 percent.
Source: Allstate Insurance Company North Central Region
The Renault-Nissan Alliance Forms Zero-Emission Vehicle Partnership With City of Seattle
The Renault-Nissan Alliance today announced that Nissan and the City of Seattle are forming a partnership to advance zero-emission mobility by promoting the development of an electric vehicle (EV) charging network. Nissan will introduce zero-emission vehicles in the United States in 2010 and will mass market them globally two years later.
“Nissan through the Renault-Nissan Alliance has committed to being a global leader in zero-emission vehicles,” said Dominique Thormann, senior vice president, administration and finance, Nissan North America. “Nissan and the City of Seattle share in the belief that electric vehicles offer one of the best solutions to reducing CO2 emissions. This partnership expands our infrastructure development efforts on the West Coast, which also includes initiatives in Oregon and California, and is an important step in making zero emissions a reality from Seattle to San Diego.”
Seattle Mayor Greg Nickels has set a goal to combine clean, green electricity with the city’s transportation system. In Seattle, power comes from the city’s utility, Seattle City Light, the first public utility in the world to be “net zero” for greenhouse gas emissions.
“From light rail to street cars to electric vehicles, we’re reducing the impact of transportation on our climate,” said Mayor Nickels. “Electric-powered transportation is particularly attractive in a city with a carbon-neutral utility, generating clean electricity through hydropower.”
As part of the agreement, Nissan and the City of Seattle will develop plans to promote a charging infrastructure for EVs, as well as the deployment, operation and maintenance of a charging network. The partners also will work to coordinate the establishment of policies and help streamline the deployment of an EV infrastructure. Nissan also has agreed to make available a supply of EVs in and around the Seattle metropolitan area.
The Renault-Nissan Alliance has begun ZEV initiatives in Kanagawa Prefecture and Yokohama in Japan, as well as in Israel, Denmark, Portugal, Monaco, the UK, France, Switzerland, Ireland, China and Hong Kong. In the United States, the Alliance is exploring ways to promote zero-emission mobility and the development of an EV infrastructure in the State of Tennessee, the State of Oregon, Sonoma County and San Diego in California, and Phoenix and Tucson, Ariz.
Source: Nissan North America, Inc.