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Teens are concerned about financial impact of coronavirus

Coronavirus in Kansas
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TOPEKA, Kan. (KSNW) – A survey of American teenagers shows two-thirds of them are concerned about the financial impact of the coronavirus pandemic.

The survey by Junior Achievement USA (JA) and Citizens Bank questioned 1,000 teens across the United States. The teens range in age from 13 to 18 and are not currently in college.

The Results

  • 69% are either somewhat or very concerned about the impact of the pandemic on their families and day-to-day lives.
  • 72% have had a discussion with their parents or guardian about finances as a result of COVID-19.
  • 24% say parents or caregivers have shared with them their concerns about paying bills.
  • 13% say their parent or caregiver has lost their job due to COVID-19.
  • 60% worry about a family member other than a parent or guardian getting sick.
  • 59% worry about a parent or caregiver getting sick.
  • 57% are concerned about how COVID-19 will impact their plans for the future.
  • 44% of high school juniors and seniors say COVID-19 has impacted their plans to pay for college.
  • 58% say they are now more likely to take out student loans to help pay for college.
  • 30% said they have had to delay college start date.
  • 13% said they have changed what school they plan to attend because of COVID-19.
  • 29% have a job outside the home, with 46% saying that they or their families depend on their income for living expenses.
  • 62% of teens who work say they would need to violate social distancing recommendations to continue working.

“These survey results show that our kids are not immune to the concerns related to the financial impact of COVID-19,” said Ashley Charest, JA President. “We at Junior Achievement are reaching out to parents and caregivers to provide resources to talk to their teens about what’s happening in a way that not only informs but provides reassurance that things will eventually get better.”

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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