JA Teens Survey: The Financial Impact of COVID-19

JA Teens Survey: The Financial Impact of COVID-19

More than two-thirds (69 percent) of American teens are "somewhat" or "very" concerned about the impact of the COVID-19 pandemic on their families and day-to-day lives, a survey conducted by Junior Achievement finds. Based on an online survey of a thousand youth between the ages of 13 and 18 not currently enrolled in college, JA Teens Survey: The Financial Impact of COVID-19 (summary, 3 pages, PDF) found that the possibility of a parent or guardian (59 percent) or other family member (60 percent) getting sick topped the list of teens' concerns, followed by the impact of COVID-19 on their plans for the future (57 percent) and the possibility of getting sick themselves (39 percent). According to the survey, 72 percent of respondents had had a discussion with their parents or guardians about finances related to COVID-19, while 44 percent had changed their plans to pay for college as a result of COVID-19, 58 percent of whom said they were now more likely to take out a student loan. In addition, 28 percent of respondents said their parents or caretakers were working fewer hours, 13 percent said their parents or caretakers had lost their jobs, and 21 percent said they themselves had lost a regular job with an employer. Separately, a guide published by JA, Making Sense: Understanding the Financial Impact of COVID-19: A Guide to How COVID-19 is Affecting People and the Economy and What It All Means (6 pages, PDF), provides middle and high school students with an overview of the pandemic, its economic impact, and steps being taken by government and the private sector to address them. JA also offers free resources for teachers and parents helping students with online learning. 

(Photo credit: Junior Achievement)