From a national study by Sallie Mae, How America Pays for College 2013. Four highlights:
- 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
Update: How America Pays for College 2014 has been published.