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American Families Are Making Changes in How They're Paying for College
Sallie Mae ConsumerFeature
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(60 seconds)
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READER SCRIPT
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THE RECESSION HAS TAUGHT FAMILIES A LESSON ABOUT PAYING FOR COLLEGE: THEY'RE INCREASINGLY LOOKING TO GRANTS AND SCHOLARSHIPS, TO MEET BOTH TUITION-COSTS AND RELATED EXPENSES. AND, THEY'RE SPENDING LESS, OUT OF POCKET. THAT'S ACCORDING TO A NEW STUDY FROM SALLIE MAE--"HOW AMERICA PAYS FOR COLLEGE". THE STUDY FINDS THAT FAMILIES DO STILL BELIEVE IN THE VALUE OF A COLLEGE-EDUCATION--AND THAT, WHILE PARENTS WANT TO MAKE THAT IMPORTANT INVESTMENT, THEIR INCOME AND SAVINGS AREN'T KEEPING UP WITH THE COSTS. THE STUDY ALSO FINDS THAT MOST FAMILIES DON'T HAVE A REALISTIC FINANCIAL-PLAN, TO PAY FOR COLLEGE. TO BEGIN PLANNING, SALLIE MAE OFFERS THESE TIPS: CREATE A PLAN FOR ALL FOUR YEARS. START WITH GRANTS AND SCHOLARSHIPS. AND, IF YOU NEED TO BORROW, EXPLORE FEDERAL LOANS--AND THEN FILL THE GAP WITH RESPONSIBLE PRIVATE-EDUCATION LOANS. SALLIE MAE OFFERS FAMILIES FIXED OR VARIABLE RATES, WITH IN-SCHOOL PAYMENT-PLANS. TO LEARN MORE, VISIT "SALLIE-MAE"-DOT-COM.
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