Monday, July 31, 2017

New report finds US college students taking more loans, parents paying less - Beth Pinsker, Christian Science Monitor

While parent spending on student tuition dropped 6 percent – the lowest number since 2009 – student borrowing jumped by the same percentage, according to Sallie Mae's 10th annual 'How America Pays for College' report released Monday. Despite a record-high US stock market and a positive economic outlook, US parents spent less on college tuition during the 2016-17 school year, according to Sallie Mae's 10th annual "How America Pays for College" report. Out-of-pocket spending by parents fell to 23 percent from 29 percent of the average amount the typical family pays for college, according to a survey released Monday. That translates to about $5,527 out of the average $23,757 yearly tab. That's the lowest dollar amount spent by parents since 2009, as well as the smallest percentage of the total tuition spent since the study started. https://www.csmonitor.com/USA/Education/2017/0718/New-report-finds-US-college-students-taking-more-loans-parents-paying-less

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