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ERIC Number: ED540413
Record Type: Non-Journal
Publication Date: 2011-Aug
Pages: 50
Abstractor: ERIC
Reference Count: 0
ISBN: N/A
ISSN: N/A
How America Pays for College, 2011. Sallie Mae's National Study of College Students and Parents
Sallie Mae, Inc.
Sallie Mae's national study, "How America Pays for College," now in its fourth year, shows the resilience of American families' strongly held belief in the value of a college education. Even in the face of rising tuition costs and the worst economic decline in a generation, between academic years 2007-2008 and 2009-2010 Americans paid increasingly more for their college education. The 2011 survey, which covers academic year 2010-2011, shows families bucking the trend. Indeed, the average family reported paying 9 percent less than reported in 2010. This decline results from a number of factors, including: (1) a shift to lower-cost schools; (2) an increase in the numbers of low-income students; and (3) reduced out-of-pocket spending among high- and middle-income families. The study also highlights that not only has the total amount paid for college declined, but also has the relative weight of grants and scholarships increased. In 2011, families reported that grants and scholarships made up 33 percent of the total amount used to meet college costs, up from 23 percent reported in 2010. Additionally, the proportion of families using grants increased substantially (30% in 2010 to 46% in 2011). (Contains 13 figures, 41 tables and 7 footnotes.) [For 2010 report, see ED540397.]
Sallie Mae, Inc. 300 Continental Drive, Newark, DE 19713. Tel: 302-283-5000; Fax: 877-525-7347; Web site: http://www.salliemae.com
Publication Type: Numerical/Quantitative Data; Reports - Research
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Sallie Mae, Inc.; Ipsos Public Affairs