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-Survey finds 70% of parents eye job potential after college as factor in choice of major.

BANKING AND CREDIT NEWS-September 13, 2012--Survey finds 70% of parents eye job potential after college as factor in choice of major(C)2012 M2 COMMUNICATIONS

13 September 2012 - A national survey of parents with college-bound teens reveals that while 81 percent of parents believe college is very important to their child's future, 70 percent say that earning potential is more or about as important than choosing a major. Another 21 percent of parents did not think income potential was more important than a major.

The survey of 800 adults with children 16 to 18 years old who are planning on going to college was commissioned by Discover (NYSE: DFS) Student Loans, the third largest originator of student loans in the country.

"There is no question that graduates with a college degree have more job opportunities and earning potential than those who did not receive a higher education," said Carlos Minetti, president of consumer banking and operations at Discover. "However, as the cost of attending college continues to rise, parents are clearly weighing what college majors are worth in the workforce."

When choosing a college, 86 percent of parents said the cost was very important or somewhat important in the choice, while 7 percent said cost was not very important and 5 percent said not at all important.

There isn't much college sticker-shock for parents in the survey. Just under half, 48 percent, of parents feel very knowledgeable about the entire cost of an education beyond tuition, and another 39 percent feel somewhat knowledgeable. Only 11 percent felt not very knowledgeable and 2 percent said they were not at all knowledgeable about the total cost of putting a child through college.

USD 1 = 0.62111 GBP

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Publication:M2 Banking & Credit News (BCN)
Date:Sep 13, 2012
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