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Study Shows How Families Are Coping With College Costs

July 25, 2013

A new study shows how many families are making adjustments to cope with the rising costs of a college education.

The research by Sallie Mae and Ipsos finds more families are leaning on grant money and scholarships.  Borrowing is now the number-three source of funds for college.

Sarah Dusich, of Sallie Mae, told Radio PA News other steps taken to keep down overall costs include a more extensive search for a more affordable school, and an attempt to control room-and-board costs.  As a matter of fact, the study reveals that 57 percent of college students lived at home last year, a number that marked a jump up from 44 percent the previous year.

85 percent of the study’s respondents replied that they strongly agree that college is an investment in their children’s future.

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