ScholarshipOwl conducts a survey each month to develop a deeper understanding of Gen Z college students. In April, our survey centered on how Gen Z feels about manufacturers that supply scholarships, and the way these emotions would possibly affect their curiosity within the services provided by these manufacturers.
Who participated within the survey?
In April 2023, ScholarshipOwl surveyed over 8600 highschool and faculty college students on the ScholarshipOwl scholarship platform to be taught extra about how Gen Z college students really feel about manufacturers that supply scholarships. Among the many respondents, 61% had been feminine, 37% had been male, and a couple of% recognized themselves as different. Practically half (48%) had been Caucasian, 21% had been Black, 17% had been Hispanic/Latino, 7% had been Asian/Pacific Islander and seven% recognized as different.
61% of the respondents had been highschool college students, with the overwhelming majority highschool seniors; practically one-third (31%) had been faculty undergraduate college students, primarily faculty freshmen; 5% had been graduate college students and three% recognized themselves as grownup/non-traditional college students.
Background
The rising price of school has considerably impacted Gen Z, leading to skyrocketing pupil debt, and a decreased skill for some college students to go to varsity. Federal and state need-based assist is on the market to assist low-income college students cut back their out-of-pocket price, however middle-income college students are sometimes not in a position to qualify for this help and find yourself taking out pupil loans to defray prices. Low-income college students who do obtain federal or state grant assist additionally usually take out pupil loans as a result of grants solely cowl a portion of the full price of attendance. Scholarships current an usually untapped alternative to cowl the price of faculty, however there are merely not sufficient scholarships obtainable to satisfy the necessity.
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Most scholarships are provided by nonprofit organizations; nonetheless, a rising variety of manufacturers are providing scholarships to not solely assist fill this unmet want, but additionally to assist forge a relationship with Gen Z college students to assist meet their very own enterprise targets. Our survey examines the connection between Gen Z and the manufacturers who supply scholarships to find out if scholarships are a viable advertising channel for manufacturers.
Survey questions
The primary survey query was “How do you are feeling a few model that provides a scholarship?” College students chosen all responses that utilized to them.
Practically three-quarters (73%) of respondents stated that they might have constructive emotions a few model that provides a scholarship. Greater than two-thirds (68%) responded that they might really feel that the model understands their wants as a pupil, and 66% stated that they might really feel that the model cares for them and different college students like them. Over half of the respondents (51%) stated they might really feel extra linked to a model providing a scholarship, and practically half (49%) stated they might really feel extra loyal to the model and its services. Solely 10% stated that their emotions concerning the model can be unchanged, and simply 2% stated that they might have damaging emotions concerning the model.
As a follow-up query, we requested, “How do you are feeling concerning the scholarship provided by the model?” College students chosen all responses that utilized to them.
Over two-thirds (69%) of the respondents stated that they might really feel that the scholarship is extra more likely to be credible and reliable, and the identical share of scholars (69%) additionally stated that they might be extra more likely to apply for the scholarship. Over half of the respondents (53%) stated they might really feel extra within the scholarship since they have already got a connection to the model, and practically half (48%) stated they might be extra more likely to share the scholarship with mates and/or on social media. 12% stated that they don’t care who’s providing the scholarship – that it wouldn’t make any distinction to them, and simply 1% stated that they might not be all in favour of making use of for a scholarship provided by a model.
The ultimate survey query was “How would you are feeling about future interactions with the model?” College students chosen all responses that utilized to them.
Amongst those that had been surveyed, three-quarters (75%) of respondents stated they might need to be contacted about extra scholarships being provided by the model. Practically two-thirds (62%) stated they might need to discover out extra concerning the model’s merchandise and/or companies. Over half (52%) stated they might need to discover out about internships and job alternatives provided by the model, and practically the identical share (51%) would need to find out about reductions and loyalty packages provided by the model. 11% stated that whether or not or not a model presents a scholarship wouldn’t impression their curiosity within the model or its services or products, and simply 1% stated that they might be much less all in favour of interacting with a model that provides a scholarship.
Key takeaways for manufacturers concentrating on Gen Z college students
The survey outcomes present that an amazing majority of Gen Z college students can be very all in favour of scholarships provided by manufacturers. Additional, the outcomes point out that just by providing a scholarship, a enterprise good points important model fairness amongst Gen Z college students. Manufacturers who supply scholarships have the chance to construct an on-going, constructive and constant relationship with Gen Z college students, a prized viewers for a lot of corporations.
To get began, manufacturers can create scholarship campaigns with the ScholarshipOwl for Enterprise platform to rapidly and simply launch their scholarship out to the tens of millions of scholars who apply for scholarships on the ScholarshipOwl platform. By the launch and promotion of scholarships, manufacturers can entice, have interaction and nurture Gen Z college students to not solely fulfill their enterprise targets, but additionally to assist meet the scholarship wants of scholars who battle to afford the price of faculty.
To search out out extra about creating and launching a scholarship marketing campaign, go to enterprise.scholarshipowl.com.
