75% of students will not be able to repay their loan. With such high levels of debts, many parents feel responsible for helping their children to cope.
YouthSight (now Savanta) asked members of our 140,000-strong youth research panel to share thoughts on the parents’ role in university choice in this 90 second SnapMe video:
Alarming number of students unable to repay loan
A report from the IFS recently brought the spotlight back onto the student loan with an alarming fact: 75% of students will not be able to repay their loan.  With such high levels of debts, many parents feel responsible for helping their children to cope. It will, therefore, come to no surprise that 23% of parents reported that it had not been easy to fund their children’s’ university education . So what sort of role do parents take when young people are faced with one of their biggest decision of their life?
The information source trumping your website, prospectus and open day…
Insights from our Marcomms Success insight tracker reveals that among all possible sources of information used by prospective undergraduates in their HE decision making process, advice from parents is the most used source when it comes to making that all-important firm choice. At that specific stage, the use of parental advice trumps your website, your prospectus and even your open day! Parents also steal the second spot in terms of influence at firm choice stage… behind your Open Day!
With 17,000 interviews under it’s belt, Marcomms Success reveals all the details including variation when looking at specific sub-segments (e.g. 1st in family to go to university) in terms of ‘use’ and influence. It also reveals the types of information sought from parents. It’s powerful stuff, but don’t take our word for it. Ask us for a demonstration and you’ll see how HEM can ground your marketing strategy in high quality, empirical data.
* This SnapMe Video was first produced for our HE Insight Club which offers members regular analysis and briefings on important topics for HE marketing teams. The latest Briefing was drawn from our HEM dashboard. If you’d like to sample the huge array of insights contained within HEM and the HE Insight Club please get in touch!
Our specialist HE researchers (formerly of YouthSight) have helped over 100 UK universities solve their marketing challenges to boost their recruitment and attraction goals. Download our brochure to find out more.