Families finding creative ways to fund college educations - New York News

Families finding creative ways to fund college educations

Updated:

By: Jamshid Ghazi Askar, Deseret News

With their parents unable to allocate as much money toward higher education as in past years, college students are increasingly utilizing grants and scholarships and aggressively employing cost-saving measures.

The findings come from How America Pays for College 2013, an annual report that financial services company Sallie Mae released Tuesday.

Families are paying an average of $21,178 for one year of college - down 12.1 percent from the 2010 apex of $24,097 in annual expenditures.

“Five years ago, only half of families reported using grants and scholarships to pay for college,” Megan Kowalski and Hadley Malcolm wrote for USA Today. “This year two-thirds of families did, the study shows. Meanwhile, parents are contributing less of their income and savings toward college costs, covering 27 percent of college costs compared with 37 percent in 2010.”

One strategy for defraying college costs that students are employing with greater frequency is living at home and commuting to school.

"More students are rejecting college dormitories," Douglas Belkin reported for the Wall Street Journal. "In 2013, 57 percent of families reported a student living at home or with a relative, up from 43 percent three years ago. Students from low-income households have traditionally lived at home in larger numbers, but among families with incomes over $100,000, the share of students staying at home has doubled to 48 percent since 2009-2010."


Original Post

Copyright 2013 Deseret Digital Media, Inc.

  • Local NewsLocal NewsMore>>

  • Summit at City Hall on police-community relations

    Summit at City Hall on police-community relations

    Thursday, July 31 2014 1:20 PM EDT2014-07-31 17:20:15 GMT
    Ways to improve the relationship between the NYPD and communities in New York City was at the center of a forum held Thursday at City Hall. Mayor Bill de Blasio, Police Commissioner Bill Bratton, Rev. Al Sharpton, city officials and community leaders attended the round-table. Accusations of police brutality and the death of a man under arrest for selling un-taxed cigarettes on Staten Island prompted the discussion.
    Ways to improve the relationship between the NYPD and communities in New York City was at the center of a forum held Thursday at City Hall. Mayor Bill de Blasio, Police Commissioner Bill Bratton, Rev. Al Sharpton, city officials and community leaders attended the round-table. Accusations of police brutality and the death of a man under arrest for selling un-taxed cigarettes on Staten Island prompted the discussion.
  • Workers trapped in trench collapse

    Workers trapped in trench collapse

    Thursday, July 31 2014 1:19 PM EDT2014-07-31 17:19:38 GMT
    Two construction workers were rescued from a collapsed trench outside a home in Rye, N.Y. on Thursday.  Firefighters from across Westchester County responded to the scene at 15 Bradford Ave. at about noon.
    Two construction workers were rescued from a collapsed trench outside a home in Rye, N.Y. on Thursday.  Firefighters from across Westchester County responded to the scene at 15 Bradford Ave. at about noon.
  • Woman plunges to death over cliff in Catskills

    Woman plunges to death over cliff in Catskills

    Thursday, July 31 2014 12:57 PM EDT2014-07-31 16:57:07 GMT
    New York State NewsNew York State News
    Authorities say a 23-year-old woman trying to take a picture by the edge of a cliff in the Catskill Mountains died after falling more than 150 feet.
    Authorities say a 23-year-old woman trying to take a picture by the edge of a cliff in the Catskill Mountains died after falling more than 150 feet.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices