The Institute for College Access & Success/ Demos/ Young Invincibles

1. The Institute for College Access & Success/ Demos/ Young Invincibles Higher Education Findings from a Nationwide Bipartisan Survey of 872 Respondents Age 18-34 Celinda Lake and Joshua Ulibarri Lake Research Partners Washington, DC | Berkeley, CA | New York, NY LakeResearch.com 202.776.9066 Christine Matthews Bellwether Research & Consulting Alexandria, VA Bellwether-research.com 703.650.5203

2. Higher Education Young adults believe that higher education is more important than ever, but it has become more difficult to afford and comes with too much student loan debt.

3. College education and training are more important than in the past, but harder to afford, and come with too much debt. • Young people agree that a college education and training are more important today than they were when their parents were growing up. Eight in 10 (79%) believe that a college education has become more important, while only 9% think it is less important today (11% say about the same). Also, 82% agree that getting some education or training after high school (not necessarily college) is more important today. • The rub for young Americans is that it is becoming harder, not easier, to afford college. Three in four (76%) say it has gotten harder in the last five years, while just 8% say it has gotten easier (14% say no difference). • The Millennials believe that college students graduate with too much student loan debt. Seventy-three percent of respondents agree and just 21% think that students generally graduate with a manageable amount of student loan debt. • All three findings hold true regardless of gender, ethnicity, education level, debt level or household income level. 3

4. Strong, bipartisan opposition to proposed student aid cuts. • Young Americans oppose efforts to cut access to Pell Grants. Seventy-five percent of young people do not want to see Pell Grants cut as a way to reduce the deficit, including 56% who strongly oppose cuts. Regardless of party affiliation, a strong majority oppose cuts. • Young people also oppose efforts to start charging students interest on their federal loans while they are still in school. Seventy-three percent of all respondents are opposed and just 21% say that students with financial need should be charged interest on their federal loans while they are in school. At least 7 in 10 Republicans, Democrats, and Independents respectively are opposed to this effort. 4

5. Young Americans want Congress to act on making education more affordable and believe that it would strengthen the economy. • Young people want increased efforts to make college and training more affordable. While thetop priority for Congress, according to young people, is to create jobs and grow the economy (81% call this the top priority), a close second, and for those under age 25 a very competitive second, is making a college education more affordable (68% a top priority overall, 71% for those under age 25, 66% for those over 25). • The Millennials are convinced that increasing education and training funding could strengthen the economy. Nearly 9 in 10 young people (88%) overall, and 62% strongly, support increasing financial aid and making student loans more affordable as a way to improve the economy. Eighty-nine percent feel the same way overall about investing in programs that provide new skills and training for unemployed people, including 60% of respondents who strongly support it. 5

6. Four in 5 young Americans believe that college education and training are more important for their generation than they were for their parents’ generation. College education Some post-high school education/ training Do you think getting a college education is more important, less important, or about as important today as it was for your parents' generation? Do you think getting some education or training after high school is more important, less important, or about as important today as it was for your parents' generation? 6

7. Overwhelmingly, young Americans regardless of gender, ethnicity, education level, debt level, or household income level believe that college education and training are more important for their generation than for their parents’ generation. • Some post-high school education/training more important than in the past: • Men – 81% • Women – 83% • White – 82% • African-American – 85% • Latino – 85% • Non-college men – 81% • Non-college women – 83% • College-educated men – 84% • College-educated women – 87% • Personal debt less than $5K – 87% • Personal debt of $5K-$25K – 84% • Personal debt more than $25K – 81% • Income less than $30K – 84% • Income $30K and more – 83% • College education more important than in the past: • Men – 77% • Women – 81% • White – 78% • African-American – 81% • Latino – 82% • Non-college men – 78% • Non-college women – 83% • College-educated men – 74% • College-educated women – 81% • Personal debt less than $5K – 82% • Personal debt of $5K-$25K – 82% • Personal debt more than $25K – 77% • Income less than $30K – 82% • Income $30K and more – 80% *Note: In this report “college-educated” includes only those respondents who said they had graduated from a four-year school or from a post-graduate school. 7 Do you think getting a college education is more important, less important, or about as important today as it was for your parents' generation? Do you think getting some education or training after high school is more important, less important, or about as important today as it was for your parents' generation?

8. While most say that college education and training have become more important, 3 in 4 also say that in the last five years it has become harder to afford college. 8 In the last five years, do you think has it gotten easier or harder to afford to go to college, or is it not any different?

9. The belief that within the past five years college has become more difficult to afford holds true across many demographic groups. • College harder to afford than five years ago: • Men – 74% • Women – 78% • White – 76% • African-American – 80% • Latino – 77% • Non-college men – 72% • Non-college women – 77% • College-educated men – 80% • College-educated women – 83% • Personal debt less than $5K – 76% • Personal debt of $5K-$25K – 75% • Personal debt more than $25K – 80% • Income less than $30K – 76% • Income $30K and more – 79% 9 In the last five years, do you think has it gotten easier or harder to afford to go to college, or is it not any different?

10. Most young Americans say that students graduate college with too much student loan debt, and just 1 in 5 think the amount of debt is manageable. 10 Would you say that college graduates today generally have too much student loan debt or have a manageable amount of student loan debt?

11. Regardless of gender, ethnicity, education level, or household income level, most of respondents believe that students graduate with too much student loan debt. 11 Would you say that college graduates today generally have too much student loan debt or have a manageable amount of student loan debt?

12. Because education is such a priority for young Americans,they strongly oppose what they see as efforts to make college less affordable – such as cutting Pell Grants as a way to reduce the federal deficit. (Darker colors used to indicate greater intensity) Full description of Pell Grants Short description of Pell Grants +52 +56 Split A: As you may know federal Pell Grants, which are college grants, help millions of low and moderate income Americans afford college or job training. Some lawmakers have suggested cutting access to Pell Grants as a way to reduce the federal deficit in these tough fiscal times. What do you think, should we cut Pell Grants in order to reduce the deficit or should we not cut Pell Grants? Split B: Some lawmakers have suggested that we need to cut access to Pell Grants, which are college grants, as a way to reduce the federal deficit in these tough fiscal times. What do you think, should we cut Pell Grants in order to reduce the deficit or should we not cut Pell Grants? 12

13. Significant majorities across key demographic groups and party affiliations are opposed to cutting Pell Grants as a way to reduce the federal deficit. • Against cutting Pell Grants (short description): • Men – 72% • Women – 78% • White – 72% • African-American – 89% • Latino – 67% • Democrats – 75% • Independents – 77% • Republicans – 76% • Likely 2012 voters – 75% • Personal debt less than $5K – 71% • Personal debt of $5K-$25K – 81% • Personal debt more than $25K – 82% • Income less than $30K – 75% • Income $30K and more – 76% • Against cutting Pell Grants (full description): • Men – 69% • Women – 78% • White – 72% • African-American – 80% • Latino – 68% • Democrats – 80% • Independents – 78% • Republicans – 61% • Likely 2012 voters – 74% • Personal debt less than $5K – 73% • Personal debt of $5K-$25K – 73% • Personal debt more than $25K – 71% • Income less than $30K – 76% • Income $30K and more – 67% Split A: As you may know federal Pell Grants, which are college grants, help millions of low and moderate income Americans afford college or job training. Some lawmakers have suggested cutting access to Pell Grants as a way to reduce the federal deficit in these tough fiscal times. What do you think, should we cut Pell Grants in order to reduce the deficit or should we not cut Pell Grants? Split B: Some lawmakers have suggested that we need to cut access to Pell Grants, which are college grants, as a way to reduce the federal deficit in these tough fiscal times. What do you think, should we cut Pell Grants in order to reduce the deficit or should we not cut Pell Grants? 13

14. Likewise, young Americans do not want students with financial need to be charged in-school interest on their federal loans. (Darker colors used to indicate greater intensity.) +52 Currently, college students with financial need are not charged interest on their student loans while they are still in school. When the students graduate, they start paying back the full loan, with interest. Some lawmakers have suggested charging these students for interest while they are in school to reduce the deficit. What do you think - should the government charge college students for interest on their loans while they are still in school to reduce the deficit, or should students with financial need not be charged interest until they graduate or leave school? 14

15. Across the board, including partisanship, young adults are against in-school interest on federal loans for students with financial need. Currently, college students with financial need are not charged interest on their student loans while they are still in school. When the students graduate, they start paying back the full loan, with interest. Some lawmakers have suggested charging these students for interest while they are in school to reduce the deficit. What do you think - should the government charge college students for interest on their loans while they are still in school to reduce the deficit, or should students with financial need not be charged interest until they graduate or leave school? 15

16. College-educated young Americans, especially college-educated men, rate their financial situation significantly more positively than non-college respondents. Young adults with a college education feel more financially secure. 16 How would you rate your personal current financial situation - excellent, good, just fair, or poor?

17. Methodology • Lake Research Partners and Bellwether Research & Consulting designed and administered this survey, which was conducted by telephone using professional interviewers from September 25 to October 4, 2011. This nationwide survey reached a total of 872 adults age 18 to 34. • The sample included 472 young adults reached on landlines and 400 young adults reached on cellphones. The two samples were weighted together so that cell dominant people (no landline or exclusively cell) account for 51% of the completed interviews. • The margin of error for the whole sample is +/-3.32 percentage points. The sampling error for sub-groups is greater. • NOTE: The survey results released today were commissioned by TICAS, Demos and Young Invincibles. The questions were included in a multi-issue survey conducted for Demos and Young Invincibles on the “State of Young America,” other sections of which were released on November 2, 2011. 17

18. Washington, DC | Berkeley, CA | New York, NY LakeResearch.com 202.776.9066 Celinda Lake clake@lakeresearch.com Joshua Ulibarri julibarri@lakeresearch.com Alexandria, VA Bellwether-research.com 703.650.5203 Christine Matthews cmatthews@bellwether-research.com