On Average, Families Spent Roughly $24,000 on College in 2016-17; Scholarships and Grants Cover Largest Share of Costs in a Decade
Families Are Savvy Higher Education Consumers; Ninety-Eight Percent Taking Steps to Make College More Affordable
NEWARK, Del.--(BUSINESS WIRE)--Students and parents shared paying for college responsibilities equally in academic year 2016-17, each contributing about one-third of the expense, and scholarships and grants covered most of the rest, according to “How America Pays for College 2017,” the national study from Sallie Mae — the nation’s saving, planning, and paying for college company — and Ipsos, an independent global market research company. The average amount spent on college in 2016-17 was about the same as in 2015-16 ($23,757 vs.
Sallie Mae
Rick Castellano, 571-425-4029
rick.castellano@salliemae.com
or
Ipsos
Julia Clark, 202-560-2014
Julia.clark@ipsos.com