Lodinews.com

default avatar
Welcome to the site! Login or Signup below.
|
||
Logout|My Dashboard

Families are Changing How They Pay for College

Print
Font Size:
Default font size
Larger font size

Posted: Tuesday, August 5, 2014 10:00 pm | Updated: 1:36 am, Fri Aug 8, 2014.

(StatePoint) American families’ commitment to college is as strong as ever. In fact, ninety-eight percent of families with an enrolled undergraduate believe that it’s a worthwhile investment. However, the way they covered the bill last year changed, according to new statistics.

A national study, “How America Pays for College 2014,” from Sallie Mae and Ipsos, found that while the average amount spent on college was consistent with prior years, families paid more out of pocket, and overall borrowing was at the lowest level in five years.

Click Here to Enlarge Image.

“There’s no question that college is a critical investment,” says Ray Quinlan, chairman and chief executive officer, Sallie Mae. “It’s equally clear that there is no single way to pay for college. But no matter how you pay for college, this investment brings peace of mind and more choice.”

The study also found that 38 percent created a plan for paying for all years of college. Additionally, only 40 percent indicated their family had a contingency plan in case of unexpected events.  To help families start a plan to pay for college, Sallie Mae launched an online college planning resource earlier this year at www.Salliemae.com/plan for college. From federal student loans to private loans to grants and scholarships, knowing your options can put your family in a better position to afford college.

More facts about how people are now paying for college are available at www.SallieMae.com/HowAmericaPays.

*****

Rules of Conduct

  • 1 Use your real name. You must register with your full first and last name before you can comment. (And don’t pretend you’re someone else.)
  • 2 Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually oriented language.
  • 3 Don’t threaten. Threats of harming another person will not be tolerated.
  • 4 Be truthful. Don't lie about anyone or anything. Don't post unsubstantiated allegations, rumors or gossip that could harm the reputation of a person, company or organization.
  • 5 Be nice. No racism, sexism or any sort of -ism that is degrading to another person.
  • 6 Stay on topic. Make sure your comments are about the story. Don’t insult each other.
  • 7 Tell us if the discussion is getting out of hand. Use the ‘Report’ link on each comment to let us know of abusive posts.
  • 8 Share what you know, and ask about what you don't.
  • 9 Don’t be a troll.
  • 10 Don’t reveal personal information about other commenters. You may reveal your own personal information, but we advise you not to do so.
  • 11 We reserve the right, at our discretion, to monitor, delete or choose not to post any comment. This may include removing or monitoring posts that we believe violate the spirit or letter of these rules, or that we otherwise determine at our discretion needs to be monitored, not posted, or deleted.

Welcome to the discussion.

Poll

Loading…

Your News

News for the community, by the community.

Mailing List

Subscribe to a mailing list to have daily news sent directly to your inbox.

  • Breaking News

    Would you like to receive breaking news alerts? Sign up now!

  • News Updates

    Would you like to receive our daily news headlines? Sign up now!

  • Sports Updates

    Would you like to receive our daily sports headlines? Sign up now!

Manage Your Lists