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.