\n<\/p>\n
Families reportedly spent an average of $30,837 for college last year.<\/p>\n
Photo illustration by Justin Morrison\/Inside Higher Ed | Getty Images | Rawpixel<\/span><\/p>\n Families are spending about 9\u00a0percent more on college compared to last year, according to a recently released survey from Sallie Mae and Ipsos.<\/p>\n The results of the survey, released earlier this week, are part of the annual \u201cHow America Pays for College\u201d report. Ipsos surveyed about 1,000 undergraduate students and the same number of parents of undergrads from April\u00a08 to May\u00a08. The online survey delved into a range of topics from how they were paying for college to their views on the federal student loan program.<\/p>\n On average, families spent $30,837 on college, which is similar to pre-pandemic spending\u2014in the 2019\u201320 academic year, families spent $30,017 on average. In line with previous years, families are typically using their own money to pay for college, with income and savings adding up to 48\u00a0percent of the pie, and scholarships and grants accounted for a 27\u00a0percent slice.<\/p>\n But 40\u00a0percent of the families surveyed didn\u2019t seek scholarships to help pay for college because they either didn\u2019t know about the available opportunities or didn\u2019t think they could win one. About three-quarters of respondents who received a scholarship credited that aid with making college possible.<\/p>\n Similar to other recent surveys, while a majority of families see college as worth the money, cost is still a key factor. About 79\u00a0percent reported that they eliminated at least one institution based on the price tag. Still, about 47\u00a0percent of respondents said they ended up paying less than the sticker price. That number is higher for families with students at private four-year universities. About 54\u00a0percent said they paid less compared to 45\u00a0percent of respondents at public four-year institutions.<\/p>\n","protected":false},"excerpt":{"rendered":" Families reportedly spent an average of $30,837 for college last year. Photo illustration by Justin Morrison\/Inside Higher Ed | Getty Images | Rawpixel Families are spending about 9\u00a0percent more on college compared to last year, according to a recently released survey from Sallie Mae and Ipsos. The results of the survey, released earlier this week,<\/p>\n","protected":false},"author":1,"featured_media":15087,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57],"tags":[535,2932,1580],"class_list":{"0":"post-15086","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-education","8":"tag-college","9":"tag-families","10":"tag-spending"},"_links":{"self":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/15086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15086"}],"version-history":[{"count":0,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/15086\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/media\/15087"}],"wp:attachment":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}