Sallie Mae With A Survey Out……

looking at how families are paying for college. It was conducted with the Gallup people. It is very data filled and a must read.

Parts of the survey:

32% of money for college comes from parent income and savings. 23% of money for college comes from student borrowing. 15% comes from grants and scholarships. 16% comes from parents who borrow money.

Around 90% of families making under 35 grand filled out a FASFA form. Only 76% did it with incomes of 35-50 grand though.

60% of parents felt borrowing of money to pay for college is good debt.

46% of parents and 37% of college students did not eliminate a school because of the cost.

70% of students and parents did not even consider the post graduation-income a student is going to get.

I have to say that with the rising costs of going to college the parents and the students really need to consider the post-graduation income. It is vital that a college student racks up the least amount of debt possible to save money.