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Families Now Pay Nearly Half of Their College Costs out of Pocket
Sallie Mae ConsumerFeature
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NEARLY HALF OF COLLEGE-COSTS WERE PAID OUT-OF-POCKET, WITH FAMILY-INCOME AND -SAVINGS--WHILE SCHOLARSHIPS AND GRANTS COVERED MORE THAN ONE-QUARTER. THAT'S ACCORDING TO THE LATEST "HOW AMERICA PAYS FOR COLLEGE"-REPORT--FROM "SALLIE MAE" AND "IPSOS". WHAT'S MORE, THE AVERAGE AMOUNT THAT WAS SPENT ON COLLEGE, LAST YEAR, WAS OVER 26-THOUSAND DOLLARS. AND, THE MOST-PREVALENT SOURCES OF FUNDING--SPECIFICALLY, SCHOLARSHIPS, GRANTS, AND PARENT-INCOME--WERE EACH USED BY ABOUT THREE-IN-FIVE FAMILIES. IN FACT, SCHOLARSHIPS WERE THE SINGLE-MOST-USED SOURCE TO PAY FOR COLLEGE. ALSO, ABOUT HALF OF FAMILIES BORROWED TO PAY FOR COLLEGE--COVERING ABOUT A QUARTER OF COSTS. AND, TWO-THIRDS OF THE FAMILIES SAID THAT THEY HAD ALWAYS PLANNED TO BORROW. YET, ALMOST TWO-IN-FIVE HAVEN'T RESEARCHED ANY STUDENT-LOAN-REPAYMENT TOPICS. TO LEARN MORE, VISIT "SALLIE-MAE"-DOT-COM-SLASH-"HOW-AMERICA-PAYS-FOR-COLLEGE"; THAT'S "SALLIE-MAE"-DOT-COM-SLASH-"HOW-AMERICA-PAYS-FOR-COLLEGE".
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