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How Families Finance Higher Ed
August 10, 2010

Parents and students are both having to dig deeper into their own resources -- with their own funds and with loans -- to finance higher education, according to an annual report on college financing released today by Sallie Mae and Gallup. The breakdown of who contributed how much for 2009-10:

  • Parent income and savings: 37 percent.
  • Parent borrowing: 10 percent.
  • Student income and savings: 9 percent.
  • Student borrowing: 14 percent.
  • Friends and relatives: 7 percent
  • Grants and scholarships: 23 percent.

 

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