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Share Name | Share Symbol | Market | Type |
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TD Ameritrade Holding Corporation | NASDAQ:AMTD | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 39.97 | 39.94 | 39.97 | 0 | 01:00:00 |
TD Ameritrade survey sheds light on the modern college experience
As college expenses continue to rise1 and student debt is reaching record highs,2 a new survey conducted by The Harris Poll for TD Ameritrade reveals that the modern college experience is undergoing major shifts for both young Americans and their parents.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190806005145/en/
The Modern College Experience (Graphic: TD Ameritrade)
Student debt accelerates Student debt is becoming more prevalent, as nine in 10 (94%) young millennials incurred some debt through their college education – up 36% from when it was measured in a 2017 survey conducted for TD Ameritrade, with the average student debt tripling from $10,205 to $31,370.
Many are considering cost-effective pathways Young Americans are concerned about college costs, as most are covering at least half of it (on average, Gen Zs are covering 50%, and young millennials 66%). To manage college expenses, young generations are exploring their options:
If they could go back and do it again, young millennials’ top advice would be to work more while being in college.
“Young Americans are starting to realize that to tackle their worries over potential student debt they need to take some action,” said Dara Luber, senior manager of Retirement at TD Ameritrade. “They’re willing to opt for a less expensive school, double down on work while studying, and save to help manage this continuously growing expense.”
College today is a team effort Nearly all parents (94%) expect their child(ren) to attend college or trade school, compared to 83% of Gen Zs and 81% of young millennials who plan to do so. But along with high expectations, parents are offering financial support:
While in college, parents go well beyond helping with tuition, as many of them:
“The rising college tuition1 and debt levels do weigh on the college experience of today, and with parents and grandparents chipping in to cover expenses, it has truly become a team effort,” said Luber. “But as young generations and their families adjust to the new financial reality, planning ahead and staying on the same page have become increasingly important.”
About TD Ameritrade Holding Corporation TD Ameritrade provides investing services and education to more than 11 million client accounts totaling approximately $1.3 trillion in assets, and custodial services to more than 7,000 registered investment advisors. We are a leader in U.S. retail trading, executing an average of approximately 800,000 trades per day for our clients, more than a quarter of which come from mobile devices. We have a proud history of innovation, dating back to our start in 1975, and today our team of 10,000-strong is committed to carrying it forward. Together, we are leveraging the latest in cutting edge technologies and one-on-one client care to transform lives, and investing, for the better. Learn more by visiting TD Ameritrade’s newsroom at www.amtd.com, or read our stories at Fresh Accounts.
Brokerage services provided by TD Ameritrade, Inc., member FINRA (www.FINRA.org)/SIPC (www.SIPC.org).
Source: TD Ameritrade Holding Corporation
About The Harris Poll The Harris Poll is one of the longest-running surveys in the U.S., tracking public opinion, motivations and social sentiment since 1963. It is now part of Harris Insights & Analytics, a global consulting and market research firm that strives to reveal the authentic values of modern society to inspire leaders to create a better tomorrow. We work with clients in three primary areas; building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and advisory to help leaders make the best decisions possible. The Harris Poll is separate from and not affiliated with TD Ameritrade, which is not responsible for their services or policies.
Survey Methodology This survey was conducted online within the United States by The Harris Poll on behalf of TD Ameritrade from February 28 to March 14, 2019, among 3,054 U.S. adults and teens ages 15 and older. Key populations include: Gen Zs (n=1027, ages 15 to 21), young millennials (n=1026, ages 22 to 28) and parents (n=1001, ages 30 to 60). The parents had more than $25,000 in investable assets.
1 https://trends.collegeboard.org/college-pricing/figures-tables/average-published-undergraduate-charges-sector-2018-19
2 https://www.federalreserve.gov/releases/g19/current/default.htm
View source version on businesswire.com: https://www.businesswire.com/news/home/20190806005145/en/
For Media: Becky Niiya, 402-574-6652 Director, Corporate Communications rebecca.niiya@tdameritrade.com @TDAmeritradePR
For Investors: Jeff Goeser, 402-597-8464 Managing Director, Investor Relations jeffrey.goeser@tdameritrade.com
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