WILMINGTON, Del.--(BUSINESS WIRE)--While many worry about the death of the American Dream, responses from over 3,300 current and prospective college students applying for a $5,000 scholarship from Nitro show optimism for their economic future. Results show a full 74 percent felt they were going to be better off financially than their parents.
“It is encouraging to see how motivated and optimistic young people are to succeed in the future,” said Mike Brown, managing director of Nitro, a leading resource for students and families seeking to finance higher education and minimize college debt.
These students are indeed motivated. Asked what one thing they would give up if it meant they could attend the college of their dreams, 21 percent would sacrifice owning or driving a car or would continue living with their parents, 20 percent would give up dining out, and 18 percent would give up their time with friends. Interestingly, traditional ideals such as marriage remain highly valued with only 7 percent saying they would delay getting married.
“I would give up nearly anything to go to the college of my dreams,” commented one applicant. “Education is a very important step in having a successful life.”
College continues to be seen as a stepping stone to a better life. Around 29 percent of the applicants are the first in their families to attend a college or university.
Still, despite strong motivation to attend college, data shows that saving for college remains a significant challenge. Nitro’s scholarship survey results show some students have been saving for college their entire lives, while others have no savings at all.
- 32 percent have less than a $1,000 saved for college
- A full 28 percent of the students have not personally saved any money for their college educations
- Around 10 percent have personally saved $5,000 or more for college
- While 30 percent have between $1,000 and $5,000 saved
NitroCollege.com awards a $5,000 scholarship four times a year, totaling $20,000 annually. The scholarship is open to high school seniors as well as current undergraduate students. There is no financial need test for the scholarship. Applicants are asked a variety of questions about their plans for college, respond to three short essay questions, and must post on social media that they have applied for the scholarship. Applications to the next scholarship are due March 31, 2017.
For more information visit: https://www.nitrocollege.com/nitro-scholarship-application
Based in Wilmington, DE, Nitro is committed to lowering the $1.2 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, https://www.nitrocollege.com/