Families Pull Back On College Spending
CHICAGO (CBS ATL/WAOK) – Families have started applying cost-saving strategies to cut college spending in the past academic school year, choosing less expensive schools and finding more economic ways for students to attend.
More students have chosen to live at home in order to help afford college.
“We are seeing families make adjustments, saving more money and being more cost-conscious,” said Sarah Ducich, senior vice president of Sallie Mae.
Along with parents, students took on the financial burden digging into their own funds.
A shift toward two-year colleges was also evident. Students included 29 percent who attended two-year public schools, up from 21 percent the previous year.
Written and Submitted by: Asha Staples