Dive Summary:
- As families recover from the recession, they're relying more on grants and scholarships to finance higher education, a Sallie Mae study reports.
- Five years ago, half of families reported using grants and scholarships; this year that figure is at two-thirds.
- For a typical family, grants and scholarships cover 30% of college costs, the report says.
From the article:
... "The post-recession reality is (parents) don't have the income and savings," says Sarah Ducich, senior vice president of public policy at Sallie Mae. "It's not that they're not willing to stretch. It's that they don't think they have the money to do that." ...
