The Princeton Review Reports Its 2024 College Hopes & Worries Survey Findings

Survey Polled 10,800 College Applicants and Parents of Applicants About Their "Dream" Colleges, Admission and Financial Aid Concerns, Perspectives on Tests, and More

• #1 "Dream" College Among Students: Harvard
• #1 "Dream" College Among Parents: MIT
• 73% Report High Stress About Applications
• 92% Took or Planned to Take the SAT, ACT, or Both Tests
• 98% Need Financial Aid
• 99% Consider College "Worth It"

NEW YORK, March 5, 2024 /PRNewswire/ -- March through April has traditionally been a nail-biting season for college applicants and their parents as they await replies from colleges, hopefully with offers of admission and financial aid. According to a February 14 report from the nonprofit organization Common App, college applications are up 12% this year.

Stress levels about applications are also up this year, as are concerns about paying for college, according to findings of The Princeton Review^®'s 22nd annual College Hopes & Worries Survey released today. 

For its 2024 survey, which was conducted online between January 15 and February 20, the education services company polled 10,867 people. Seventy-three percent (7,935) were applicants to colleges and 27% (2,932) were parents of applicants. The survey featured 20 questions, nearly all of which presented multiple-choice answers. A summary of selected findings follows.

Students' and Parents' "Dream" Colleges

The survey's first question—"What 'dream' college do you wish you (your child) could attend if acceptance and cost weren't issues?"—invited a fill-in-the-blank answer. Several hundred colleges and universities were named by respondents as their "dream colleges." Among them were flagship state schools, private universities, community colleges, technology schools, nursing schools and every one of the Ivies.

The 10 schools most named by surveyed students as their "dream" colleges were:

1. Harvard College (MA)
2. Massachusetts Institute of Technology
3. Princeton University (NJ)
4. Stanford University (CA)
5. University of Michigan
6. Yale University (CT)
7. University of Texas—Austin
8. Columbia University (NY)
9. New York University
10. Brown University (RI)

The 10 schools most named by surveyed parents as their "dream" colleges for their children were:

1. Massachusetts Institute of Technology
2. Princeton University (NJ)
3. Harvard College (MA)
4. Stanford University (CA)
5. Duke University (NC)
6. University of Michigan
7. Yale University (CT)
8. New York University
9. Cornell University (NY)
10. Brown University (RI)

Survey findings based on questions with multiple-choice answers indicate:

• Stress about college applications is high.
Asked to gauge their levels of stress about their application experiences, the plurality (45%) of respondents selected the answer choice "High" and 28% reported it to be "Very High." Overall, 73% of respondents selected answer choices indicating high or very high levels of stress. By comparison, in 2003, the first year The Princeton Review conducted the survey, 56% of respondents reported high or very high levels of stress.

• Financial aid will be very necessary.
Asked how necessary financial aid will be to pay for college, the majority (55%) of respondents reported it will be "Extremely" necessary while 27% deemed it "Very" necessary, and 16% said "Somewhat" necessary. Overall, 98% chose answers indicating some level of financial aid would be needed. Only 2% chose the answer "Not at all." 

• Debt is the major worry.
Asked their biggest concern about their applications, 41% of respondents chose the answer "Level of debt to pay for the degree." Significantly fewer (27%) chose the answer "Will get into first-choice college but won't be able to afford to attend," and 24% chose "Won't get into first-choice college." In 2003, the majority (52%) of respondents selected the answer "Won't get into first-choice college," while "Level of debt to pay for the degree" (the answer most chosen by respondents this year) was chosen by just 8% of respondents.

• Reasons for taking the SAT^®/ACT^® vary.
Respondents were asked if they (their child) had taken (or planned to take) the SAT or ACT, and if so, what motivated their decision in light of the high number of test-optional colleges.  Among those indicating they were taking (or planned to take) either test, the plurality (42%) chose the answer "Scores can distinguish my application," while 36% chose the answer "Scores are considered in scholarship and aid decisions," and 22% chose the answer "To have test scores 'on hand' if needed." 

• The SAT is more popular than the ACT.
Asked which admission test(s) they (or their child) had taken or planned to take, 49% chose the answer "the SAT," while 14% chose "the ACT." However, 29% chose "Both tests" and 8% chose "Neither test."  

• Opinions of the Digital SAT are generally positive.
Asked their opinions of the Digital SAT, which debuts March 9 in the U.S., 50% of respondents chose the answer "It will be a better test," while 25% chose the answer "It will be a more difficult test." Only 15% selected the answer "Will likely take the paper-and-pencil ACT," and 10% chose the answer "Not taking either test."

• "Overall fit" and "career interests" matter more in college choices than "academic reputation" and "affordability."
Asked what best describes the college they are likely to choose, the plurality (44%) of respondents selected the answer "College that will be the best overall fit," while 36% selected "College with the best program for my (my child's) career interests" and 11% chose "College with the best academic reputation." Only 9% chose "College that will be most affordable."

• A potentially better job and earnings are seen as the biggest benefit of earning a college degree.
Asked what they consider the major benefit of earning a college degree, the plurality (44%) of respondents chose the answer "Potentially better job and income," while 33% chose "The exposure to new ideas" and 23% chose "The education."

• Distance from home of "ideal" college? Parents and students differ.
Asked how far from home their (their child's) "ideal" college would be, 48% of parent respondents chose the answer "Fewer than 250 miles," while only 37% of student respondents chose that answer. For virtually all answer choices presented, students selected answers with longer range distances than parents did. Thirty-two percent of students chose "250 to 500 miles" vs 30% of parents and 19% of students chose "500 to 1,000 miles" vs 14% of parents. In addition, 13% of students chose "More than 1,000 miles" vs 8% of parents. This pattern has been consistent on the survey since 2007 when this question was added to the survey.

• 99% of respondents believe college is "worth it." 
Asked if college will be "worth it," 99% of respondents (parents and students alike) chose the answer "Yes."

The 2024 survey also polled respondents about their estimates of college costs, the number of colleges to which they were applying, the toughest part of their application experiences, and more. A complete report showing all questions, answer choices, and findings broken out by respondents overall, by students, and by parents is downloadable in the College Hopes & Worries Survey hub at PrincetonReview.com. The survey was promoted among users of college-related resources of The Princeton Review as well as via the company's social media channels. It was also published in the company's annual Best Colleges guidebook. A survey sweepstakes prize of $3,500 is awarded to one entrant selected at random.

"We thank the more than 10,800 college applicants and parents who participated in our survey this year—as well as the 226,000 applicants and parents who have participated in our College Hopes & Worries Survey since 2003," said Rob Franek, Editor-in-Chief of The Princeton Review. "Their candid feedback about their applications and their perspectives on current education topics have provided important insights for our company and for all who create resources to help students find their 'best fit' colleges."

Advice from Respondents

An optional question on the survey invites respondents to share their advice for next year's applicants and their parents. For 22 years, the advice most noted from students and parents alike has been "Start early." 

Other advice offered from parents this year was: "A college acceptance or rejection doesn't define you as a person, but you don't have a shot unless you apply" and "Remember, it's your child going to college, not you. Let them choose whichever college is their dream and not yours."

Students proffered these gems: "Only apply where you can see yourself," "Trust the process. In the end it will be worth it," and "Don't stress too much. Maybe you'll get into your first-choice college, maybe you won't.  Either way you can make the best of wherever you end up. It will be ok." The most encouraging advice of all was simply a student's cheer: "You got this!" Samplers of the best advice from surveyed students and parents are on PrincetonReview.com here.

About The Princeton Review 

The Princeton Review is a leading tutoring, test prep, and college admissions services company. Every year, it helps millions of college- and graduate school-bound students, as well as working professionals, achieve their education and career goals through its many education services and products. These include online and in-person courses delivered by a network of more than 4,000 teachers and tutors; online resources; a line of more than 150 print and digital books published by Penguin Random House; and dozens of categories of school rankings. The company's Tutor.com brand, now in its 23^rd year, is one of the largest online tutoring services in the U.S. It comprises a community of thousands of tutors who have delivered more than 25 million one-to-one tutoring sessions. The Princeton Review, headquartered in New York, NY, is not affiliated with Princeton University. For more information, visit PrincetonReview.com and the company's Media Center. Follow the company on X (formerly Twitter) (@ThePrincetonRev) and Instagram (@theprincetonreview).

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SOURCE The Princeton Review