• A study by Sallie Mae showed that families are cutting back on college spending by choosing less expensive schools, opting for at-home living as opposed to on-campus housing, and attending two-year public colleges.
• The study, based on over-the-phone interviews with 1,601 college undergraduate students and their parents, revealed a 5% decrease on college spending by families in the 2011-2012 school year although student’s personal funding has increased by $1,944 on average.
• Parents on average are funding 37% of college costs, a 10% decrease from two years ago, students are taking on 30% of the burden with 29% coming from grants and scholarships, and the remaining 4% of funds are coming from other friends and family members.

From the article:

CHICAGO (AP) — Families have implemented more cost-saving strategies to cut college spending in the past academic year, choosing less expensive schools and finding more economical ways for students to attend. ...