Reports

How America Pays for College 2014

– Download Full Report –

Author(s): Sallie Mae and Ipsos

Published: August 2014

Report Intro/Brief:
Now in its seventh year, How America Pays for College 2014, a national study by Sallie Mae and Ipsos, provides a compelling snapshot of how families make the important investment and choices in paying for college. This year’s report reiterates families’ strong commitment to college and their belief in the value it brings. At the same time, the report highlights that the way families meet the cost of college has changed as students and parents make more deliberate decisions to afford college.

Specifically, the survey of 1,601 undergraduate students ages 18-24 and parents of undergraduate students ages 18-24 found:

  • A strong belief in the value of college. 98 percent of families agree that college is a worthwhile investment and more than eight in ten families indicate they are willing to stretch themselves financially to obtain the opportunities afforded by higher education.
  • Making deliberate decisions to meet college costs. Virtually every family took at least one step to make college more affordable, and on average families took 5 steps.  This year, families reported the highest enrollment in two-year public colleges since the survey began (34 percent, up from 30 percent last year).
    • Nearly 70 percent opted to attend institutions in-state this year.
    • More than 65 percent cut back on entertainment/vacation costs
    • More than half chose to live at home or with relatives.
  • Greater out-of-pocket spending. Families spent more out of pocket (42 percent of college costs) while overall borrowing (22 percent of college costs) was at the lowest level in five years. Low-income students, in particular, reduced their reliance on borrowed funds when paying for college last year.

This year’s study has three new features: a section devoted to the role of planning for college – what planners did and how they compare to the full population; a section on first in family – how the three in 10 students who were the first generation in their families to attend college accomplished it; and a section on the personas (personality types and behaviors) and paying-for-college readiness of the parents and undergraduates in the survey. “

Comments

Youth Today is the only independent, internationally distributed digital media publication that is read by thousands of professionals in the youth service field.

Youth Today adheres to high-quality journalistic standards, providing readers with professional news coverage dedicated to examining a wide spectrum of complex issues in the youth services industry from legislation to community-based youth work.

EDITORIAL INDEPENDENCE

Our organization retains full authority over editorial content to protect the best journalistic and business interests of our organization. We maintain a firewall between news coverage decisions and sources of all revenue.

DONORS & DONOR TRANSPARENCY

We are committed to transparency in every aspect of funding our organization. Donors may be quoted, mentioned or featured in our stories. Our news judgments are made independently – not based on or influenced by donors. Accepting financial support does not mean we endorse donors or their products, services or opinions…(read more)

Recent Comments

Categories

Archives

Kennesaw State University Mountain Logo & Ceneter for Sustainable Journalism Logo
LOGO Institute for Nonprofit News 3 turquoise boxes stacked in "J" shape

Copyright © 2018 Youth Today and MVP Themes --- Published by Center for Sustainable Journalism,
Kennesaw State University, 1200 Chastain Blvd. Suite 310, Kennesaw GA 30144

To Top