College Payment Statistics

Parents are relying more on outside sources like relatives and friends, grants and scholarships, and student and parent borrowing for paying for there kid's college tuition. The loan company Sallie Mae said that "one outcome of the recession and the slow economic recovery is the stress that it has placed on parents' ablitiy to pay for college from their income and savings." After government and philanthropy funds started to run dry during the recession, colleges had to make up those lost funds by raising college prices. Those revenue funds never came back so college tutition continued to stay high even after the recession.

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