Families are concerned about the rising cost of higher education and are making adjustments to cope, a new survey finds.
The national study, “How America Pays for College,” from Sallie Mae and Ipsos Public Affairs, found 69 percent of families eliminated college choices because of costs, the highest level in the five years since the study began. To save money, 51 percent of students lived at home, 50 percent added a roommate, 29 percent attended a community college, and 50 percent of parents and 66 percent of students reduced their spending.
As tuition rises, the burden is shifting more to students. Between savings, jobs, and loans, students paid 30 percent of the total cost of college last year compared with 24 percent four years ago while parents picked up 37 percent of the expenses, down from 45 percent.
A version of this article appeared in the August 08, 2012 edition of Education Week