Current grads do not feel like they owe their alma maters anything. The reason? The cost!

Forbes reports.

Meaningful Experiences For Millennials In College Will Maintain Engagement Post Graduation

As the influence of millennials increases, their donations after college to their alma maters will be critical to the institutions’ growth. However, because the increasing costs of higher education, many millennials do not feel like they owe their alma maters any monetary donation after they graduate. With only 27.5 percent of recent graduates donating to their universities after graduation, institutions need to do more to engage millennials while they’re still in college in order to build lasting relationships that matter.

Today, millennials represent a larger amount of college graduates than any previous generation; so it’s vital for institutions to start gaining their financial support as Boomers – today’s primary donors — age. As millennials are reaching higher levels of affluence becoming major players in the workforce, Universities must rethink their strategies for building alumni relationships. A nice letter with a watermark no longer does the trick. Millennials expect universities to incorporate the same techniques that their favorite brands are using; digitally driven, personalized and unique experiences with this consumer who is a partner not a target audience. The key is to start building these relationships while millennials are still in school.