How cost-consciousness informs Gen Z’s higher ed expectations

Generation Z has been called the “Children of the Great Recession” because they came of age or were born into the results of a global economic crisis. Many of these students saw their family or friends lose their jobs, their homes, and/or their retirement funds. This aspect of Gen Z culture is a direct result of the environment in their households and the state of the world during and after the recession.

The cost-conscious Gen Z culture has been further heightened by the national conversation about the student debt crisis and the rising cost of college. Data from the 2018 edition of The American Freshman survey shows that on average, 64% of Gen Z have serious concerns about financing their education and 51% expect to get a job while enrolled to cover expenses. Looking at data over time, 48% of today’s Gen Z students consider cost of attendance very important to their college choice, 17 percentage points higher than Millennials in 2004.