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Now in its seventh year, How America Pays for College 2014, a national study by Sallie Mae and Ipsos, provides a compelling snapshot of how families make the important investment and choices in paying for college. This year’s report reiterates families’ strong commitment to college and their belief in the value it brings. At the same time, the report highlights that the way families meet the cost of college has changed as students and parents make more deliberate decisions to afford college.
Specifically, the survey of 1,601 undergraduate students ages 18-24 and parents of undergraduate students ages 18-24 found:
This year’s study has three new features: a section devoted to the role of planning for college – what planners did and how they compare to the full population; a section on first in family – how the three in 10 students who were the first generation in their families to attend college accomplished it; and a section on the personas (personality types and behaviors) and paying-for-college readiness of the parents and undergraduates in the survey.
Read the full report.
Average percentage of total cost of attendance paid from each source
For more information about this report and how families are paying for college, view the infographic: