College Involvement
This year’s study also gathered data on current Scholar involvement by household income level. The results show that many key educational experiences and campus involvement opportunities are less accessible for lower-income Scholars, which may help explain the income disparities in the outcomes described in section I above.
For the purposes of this report, we divided Scholars between those with household incomes above and below $50,000 at the time of application. As the figure above demonstrates, Scholars with a household income of under $50,000 at the time of application are less engaged on their campuses in every category we ask them about.
These findings are in line with the results of the 2024 Inside Higher Ed/Student Voice Study which demonstrates a strong correlation between first-generation status and low campus involvement. A recent study on “time poverty,” which disproportionately affects college students who are parents as well as Black and Hispanic students, also underscores the disproportionate barriers to involvement for marginalized groups.2 Given the overlapping challenges faced by first-generation, Black and Hispanic, and lower-income students, it is not surprising that our lower-income Scholars’ behavior mirrors that of college students in these groups.
Studies have demonstrated that high-impact experiences like undergraduate research and internships are strongly correlated with success both during and after college—and harder to access for first generation and lower-income students.3 By increasing Scholar awareness of the benefits of these experiences and by actively encouraging Scholars to apply for Fellowship support, the Mitchell Institute can help ensure that Scholars maximize the impact of their college education.
The good news is that we are already having success getting these students involved. Engagement rates for Mitchell Scholars with household incomes below $50,000 are actually higher than that of their wealthier counterparts—for Mitchell Institute activities.
This finding suggests that the Mitchell Institute’s approach to Scholar support—a combination of targeted financial assistance and individualized outreach and care—is extremely effective at engaging the Scholars with the highest levels of financial need. Our challenge is to leverage this success to encourage Scholar engagement at the campus level.
Financial Anxiety
This year’s survey results show that significant financial anxiety is a reality for many Scholars. Nearly a third of all Scholars who responded to the survey—and nearly half of all Bonney Scholars—expressed worry about being able to afford costs related to college attendance.
Scholars who chose “No, I am NOT confident I can meet this hidden cost” as a response in any category were designated as having financial anxiety. It’s important to note that this question does not yield definite financial information but rather indicates a Scholar’s feelings about their expenses. For this reason, responses to this question may also be useful as indicators of overall mental health and well-being, in addition to pointing to material needs. As research on the prevalence of basic needs insecurity in higher education nationally makes clear, college students who experience housing and food insecurity face additional health challenges, sleep less, and work longer hours at lower-paying jobs—all of which contribute to lower engagement and completion rates.4
In virtually every category, Bonney Scholars have the greatest amount of financial anxiety around college costs, followed by Scholars with lower household incomes.
The figure above shows that “Unforeseen fees,” and “Course materials and technology” are the two categories about which Scholars feel the greatest amount of anxiety. Helping Scholars both anticipate and meet these often hidden costs should be a priority for the Scholar team moving forward.