How Today’s Typical Family Pays for College

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The way families pay for school truly indicates the depth of their planning…

Ironically, according to a Sallie Mae study, while families feel confident in their planning, nearly 40 percent have no plan in place.

Talk about rainbows and unicorns!!

According to Sallie Mae and Ipsos, an independent global market research company, the cost is covered, as follows:

• 47% is funded through family income and savings (even as they family services a load of other debt);
• 28% is funded through scholarships and grants;
• 2% is funded by extended family and friends; and,
• 24% is funded through parent and student school loans.

Basically, 70% of the cost of an education is funded through current or future income.

53% of the families surveyed borrowed money, with two-thirds having expected to borrow. Bring up repayment and almost 40 percent of families haven’t considered repayment.

Experts say that, with the right tools and knowledge, families can develop a smart strategy for paying for college.

We are here to assist your family with designing and implementing its college funding campaign, not with just the savings aspect, but also with the loan repayment aspect.

We are waiting to hear from you…

 

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