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Commitment to College Strong as Ever as Families Make Deliberate Decisions to Meet Cost, Says New Research from Sallie Mae and Ipsos

August 1, 2014 Comments off

Commitment to College Strong as Ever as Families Make Deliberate Decisions to Meet Cost, Says New Research from Sallie Mae and Ipsos
Source: Sallie Mae/Ipsos

Ninety-eight percent of families agree that college is a worthwhile investment, but the way they covered the bill last year changed, according to “How America Pays for College 2014,” a new national study from Sallie Mae and Ipsos. The annual study, now in its seventh year, found that while the average amount spent on college was consistent with prior years, families spent more out of pocket (42 percent of college costs) while overall borrowing (22 percent of college costs) was at the lowest level in five years. Low-income students, in particular, reduced their reliance on borrowed funds when paying for college last year.

Families used grants and scholarships to cover 31 percent of college costs, and contributions from relatives and friends paid another 4 percent.

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How America Pays for College 2013: A national study by Sallie Mae and Ipsos

August 19, 2013 Comments off

How America Pays for College 2013: A national study by Sallie Mae and Ipsos
Source: Sallie Mae/Ipsos

The 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.

  • 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.

While Strongly Valuing College, Families Continue to Cut Costs, Says National Study by Sallie Mae and Ipsos

July 17, 2012 Comments off

While Strongly Valuing College, Families Continue to Cut Costs, Says National Study by Sallie Mae and Ipsos
Source: Sallie Mae

Eighty-three percent of college students and parents strongly agreed that higher education is an investment in the future, and the majority found multiple ways to cut college costs, according to a new national study from Sallie Mae and Ipsos Public Affairs.

Students now foot an expanding share of the college tuition bill, while parents scale back compared to four years ago. Drawing from savings, income, and loans, students paid 30 percent of the total cost of attendance last academic year, up from 24 percent four years earlier, while parents covered 37 percent, down from 45 percent in the same time period.

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