The Student Financial Wellness Survey (SFWS) is a self-reported, online survey that documents the
financial wellbeing and success indicators of postsecondary students across the nation. The SFWS
was designed and implemented by Trellis Strategies, starting in 2018. Since then, 3.1 million
students have been surveyed at 263 institutions in 34 states.
Jobs for the Future (JFF), in partnership with Trellis
Strategies, analyzed Trellis’s 2022 Student Financial
Wellness Survey of over 30,000 students from 89
schools in 23 states. Findings reveal significant
financial insecurity gaps, particularly for Black, Latine,
and women students, emphasizing the need for a
multifaceted approach, including basic needs hubs,
policy changes, and improved data collection.
The COVID-19 pandemic has affected college students’ basic needs, financial security, academic success, caregiving responsibilities, mental health, and more, according to the Fall 2020 Student Financial Wellness Survey (SFWS) conducted by Trellis Company. Researchers surveyed 37,936 students at 62 two- and four-year colleges and universities from October to November 2020 and found 53 percent (n=20,095) indicated one or more forms of basic needs insecurity (BNI). This brief examines data from students with BNI with a special lens on their mental health, familial responsibilities and finances, employment, and financial security. These results highlight the disparate impacts of the pandemic among basic needs insecure students.
More than half of students were experiencing one or more basic need insecurities at the time of the survey—50 percent of four- year students and 54 percent of two-year students. • Nearly one in ten students— nine percent—had experienced homelessness, food insecurity, and housing insecurity within the past year (from October/November 2019 to October/November 2020). • The majority of respondents with BNI reported the COVID-19 outbreak had added to their levels of stress, anxiety, or depression— 89 percent at two-year colleges and 92 percent at four-year institutions. • Respondents with demonstrated basic needs insecurities were more likely to work while enrolled, identify as a first-generation student, be female, and financially support children or other dependents.