With May 1 'Decision Day' Looming, 69 Percent of Parents and 55 Percent of Students Say Coronavirus Has Impacted Their Ability to Pay for College

WILMINGTON, Del., April 6, 2020 /PRNewswire/ -- NitroCollege.com, a website dedicated to helping students and parents navigate college admissions and financial aid processes, today released the findings from its survey College and Coronavirus: Outlook for the Fall 2020 Semester. The data, from more than 6,500 student and parent responses, reveals how the novel coronavirus (COVID-19) pandemic could have a significant impact on fall 2020 college enrollment.

"Traditionally, May 1 is 'Decision Day,' when most colleges require students to formally commit to attending in the fall, including making an initial deposit," says Mike Brown, managing director of Nitro. "However, our survey shows that economic uncertainty, along with other concerns about continuing pandemic-containment measures, may lead a significant percentage of college-bound students to modify their plans at the last minute."

Key Findings
The survey includes responses from approximately 4,500 current college-bound high school seniors and 2,000 parents of current college-bound high school seniors.

Money is a massive concern.

• 69 percent of parents and 55 percent of students reported that they believe their ability to pay for college will be impacted by the COVID-19 pandemic and pandemic-containment measures.

"With non-essential businesses closing and many workers being furloughed or laid off, it's no surprise that families may need to divert college savings to other essential expenses," says Brown. "At Nitro, we're recommending that students contact their financial aid offices immediately to appeal their financial aid awards. A decrease in income may mean that information they provided on their FAFSA is no longer valid, so they may be eligible for more assistance."

Staying closer to home is becoming a more attractive option.

• 29 percent of students report that they are considering attending college closer to home due to the pandemic.

"The survey comments show that families are concerned there could be a resurgence of the virus in the fall. Families are trying to make decisions now to reduce their risks after school starts," says Brown.

Online colleges may see a boost in enrollment.

• 11 percent of respondents said they would consider enrolling in an online college for the fall semester.

"It's possible that online learning may gain more credibility as a result of the pandemic," says Brown. "We're seeing a lot of frustration from students who are still paying full-price tuition, but they're now completing coursework at their dining room tables. This may also nudge brick-and-mortar institutions to increase their investment in online-learning technologies and methods."

Many colleges have yet to communicate their plans for the fall semester.

• 49 percent of students said they had not received information from their school or prospective school about plans for the fall semester, while 70 percent of parents said the same.

"It's no surprise that parents and students aren't entirely in-sync on this, but it does show that many families are in the position of trying to make decisions about the fall without having enough information," says Brown.

Students are considering delaying or taking a gap year.

• 15 percent of students responded that they would consider skipping the fall semester and continuing their studies later with 14 percent of parents agreeing with that strategy.

"With so much uncertainty about money, logistics, and the potential trajectory of the virus, some families are opting to bide their time until they have more information," says Brown.

As the Class of 2020 deals with unprecedented disruption during their final year of high school, many survey respondents expressed their fear that they'll lose out on having "the college experience" in the fall as well.  

Nitro guides students and parents through the college admissions and financial aid processes. To learn more and access resources, please visit www.nitrocollege.com.

Report Availability
To view the survey results in their entirety, please visit http://www.nitrocollege.com/research/covid19.  

Survey Methodology
Nitro conducted the College and Coronavirus: Outlook for the Fall 2020 survey via email from March 27 - 30, 2020. The survey sample included more than 6,500 student and parent responses.

About Nitro
Based in Wilmington, DE, Nitro is committed to lowering the $1.6 trillion in student debt nationwide by offering students and their families a variety of resources to help them finance their higher education and minimize debt. With free, accessible information about the FAFSA, scholarships, grants and student loans, Nitro addresses the many issues students face in funding their education and paying their debt post-graduation. For more information, visit www.nitrocollege.com.

SOURCE Nitro

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