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First-of-its-kind Survey Shows Impact Of Economic Crisis On High School Students And Their Families

Highlights: 92% Concerned About the Economy; 83% Believe Crisis Will Last 2 to 3 or More Years

FOR IMMEDIATE RELEASE

PRLog (Press Release) - Mar 18, 2009 -
In a first-of-its-kind survey of high school seniors, 92% indicated they are concerned about the economy and 83% think that the financial crisis will last as long as two to three or more years. Those are among the sobering findings from a survey of the graduating Class of 2009 at Archbishop Stepinac High School that provide new insight about how the recession is impacting the lives of college-bound students and their families.

Of the 128 students in Stepinac’s senior class, 108 (84%) completed the written survey.  Members of the class of 2009 were asked 10 questions about how the economic crisis affected them, their families, friends and others they know.



Highlights:

•   Of the 92% of respondents who indicated the level of their concern about the crisis,  61% were “somewhat concerned” and 31%  were “very concerned.” Only 8% were “not concerned.”
•   When asked to indicate how long they thought the crisis would last, 42% said three more years; 41%, two years and 17%, one year.
•   72% think their generation faces more serious economic challenges than their parents’ generation did.
•   46% said that the crisis affected a family member who lost a job or whose income was reduced while 66% indicated they knew individuals outside their immediate family who had been negatively impacted by the economic turmoil.
•   60% indicated that their families cut back on expenses for vacations, restaurants, movies and other entertainment.
•   75% noted that they and their parents were concerned about financing their college education.
•   39% indicated their parents were also concerned about financing the education of their younger siblings.
•   31% of the seniors indicated that the crisis had affected their college plans and  10% noted they were planning to change their course of study.

Paul Carty, Stepinac Principal, said: “Up until now, we’ve only had anecdotal information about the severity of the recession on our students and their families.  The results of this survey provide us with a very sobering assessment about how the recession is affecting the lives of students and their families.”  He added: “It also provides a strong indication of the impact the recession is  having on the nation’s middle-class families.”

Carty said that the survey suggests that high school seniors in general are more likely to be concerned about their future because they are at a critical cross roads in their lives. “The Stepinac seniors began high school in 2004 when the economy was  flourishing. Four years later, as they began their senior year, they were confronted with a rapidly deteriorating situation and are experiencing an unprecedented financial crisis. With no clear sign that the economy is turning around—and graduation fast approaching—the results of the survey reflect a growing level of anxiety of our nation’s young people.”

For Carty, however, there was a bright spot in the survey as 100% of the participants said that their Stepinac education prepared them to face future challenges, with nearly 50% of them indicating “extremely well.” Carty noted: “For 61 years, Stepinac has successfully shaped  lives of many young men in other crises of our nation’s history who have gone on to become leaders in their chosen fields of endeavor and in their communities. We are confident that this tradition will do well by this Class of 2009 who are being exceptionally challenged.”

    Founded in 1948, Archbishop Stepinac High School’s mission is to offer young men  
    a highly competitive academic and extracurricular program that will prepare them for
    college and leadership roles.  The faculty and staff accomplish these objectives by
    pursuing excellence and creating a supportive, disciplined atmosphere with a strong
    sense of camaraderie and Christian values that are unique to the Stepinac
    experience.  For more information on Stepinac High School please visit
    www.stepinac.org.

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Last Updated:Mar 18, 2009
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