College & Workforce Readiness Report Roundup

Financing College

By Caralee J. Adams — August 29, 2011 1 min read

To deal with college expenses in an uncertain economic climate, families are turning to lower-cost schools and seeking more financial aid, a national survey reveals.

Students are also increasingly living at home and going to college part time, according to the survey, which was released this month by Sallie Mae, a Newark, Del.-based financial-services company specializing in education financing.

The study found that the average family reported spending 9 percent less on college in 2010-11 than the previous year. The survey is based on interviews with 1,611 parents and undergraduate students.

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A version of this article appeared in the August 31, 2011 edition of Education Week as Financing College

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