A national study by Sallie Mae,
How America Pays for College 2013,
conducted by Ipsos, is a compelling look at how today's families view
higher education, manage higher education costs, and tap a variety of
funding sources. This year's study finds that families are adjusting to a
new post-recession reality to pay for college.
Among their main findings:
- Higher scholarships and grants. "Free money" now pays for 30% of college costs, up from 25% four years ago.
- Reduced parent contributions. Parents now fund from income and savings 27% of college expenses, down from 2010’s peak funding of 36%.
- Unwavering belief in the value of college. 85% of parents strongly agreed that college was an investment in their child’s future, the highest in the last five years.
- New cost-consciousness. A higher number of families factor college costs into the choice of school.
How America Pays for College 2013 offers
important, informative insights into how families are managing to fund
higher education in the current economic landscape. To view an infographic that captures a lot of the data and provides you some perspective on how the costs of college are being handled differently these days than in the past,
visit this Sallie Mae site.
