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.
