Is going to college pretty much the only path to financial security for today's young adults? That's what is suggested by the results of the National Center for Education Statistics' longitudinal survey of the ninth grade class of 2009. The 2016 follow up, seven years later, provides a disturbing look at the financial situation of those who did not go to college.
A substantial 28 percent of the nation's 2009 ninth graders had not enrolled in a postsecondary institution since graduating from high school, according to the 2016 follow up. When asked why they never went to college, 43 percent cited personal reasons and 42 percent financial.
Anxiety was widespread among these young adults, with 60 percent worried about having enough money to pay for regular expenses. Many depended on parents to get by: 26 percent said their parents regularly helped them pay for their rent or mortgage; 26 percent said their parents regularly helped with health care costs; and 19 percent said their parents regularly helped pay their monthly bills. Among those who were employed, 39 percent reported having an income of less than $10,000 in the previous year.
Source: National Center for Education Statistics, High School Longitudinal Study of 2009 (HSLS:09) Second Follow-Up: A First Look at Fall 2009 Ninth-Graders in 2016
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