Skip to main content

Sallie Mae's Report Indicates Parents Adjusting to Educational Costs


A Sallie Mae Report entitled How America Pays for College 2013 brings to light some important changes occurring in the financing of education. Parents and students are finding new strategies to adjust to increases in cost which include opting out of dorms, applying for grants, working more hours, and cutting back on things that are not necessary. Despite the growing cost of education students and parents still believe in the power of education and the ability to afford a better life. 

Even though a general trend of college costs has been increasing, over the last few years it has leveled out to $21,178 which is down from 2010. Yet parents and students are being more frugal and this could have some influence on the plateau and how long that plateau lasts. Wealthier families are spending a little more than middle class families while lower class families are pulling back on their expenses while attending school. 

How Students Are Paying for College:
Student Borrowing 18%
Parent Borrowing 9%
Parent Income & Savings 27%
Grants and Scholarships 30%
Relatives & Friends 5%
Student Income and Savings 11%

Parental spending on college declined a significant 35% from 2010 leaving children to find alternatives. On a positive note the 529 educational plans have been increasing for longer term savings. The information may indicate that the ability to pay cash for education is declining and there is a shift toward longer-term saving plans. It does help indicate a level of adjustment and sophistication in decision making as a direct adjustment to the educational and economic market. 

Parents from middle and upper class families were less worried about paying for their kid’s college. Lower income parents were still worried about the availability of financial aid, grants, and their incomes. The majority of people still see college as a way to work in an occupation they are interest in as well as the possibility of earning more money due to their educational achievements. 

The report provides a strong overview of current educational perceptions and they methods people are using to pay for their college education. It is full of information, charts, and graphs. Americans are finding ways to work around the difficult costs and choices they have to make. The report, as well as other reports this year from other organizations, indicates there may be a large shake up in higher education in the years to come. Good or bad the people will continue to adjust and change. 

Comments

Popular posts from this blog

The Meaning of A Boundless Moment by Robert Frost

A Boundless Moment by Robert Frost He halted in the wind, and — what was that Far in the maples, pale, but not a ghost? He stood there bringing March against his thought, And yet too ready to believe the most. "Oh, that's the Paradise-in-bloom," I said; And truly it was fair enough for flowers had we but in us to assume in march Such white luxuriance of May for ours. We stood a moment so in a strange world, Myself as one his own pretense deceives; And then I said the truth (and we moved on). A young beech clinging to its last year's leaves. The poem is one of seasons changing and the cycle of life. Each May the bloom comes out and brings life to the death of winter. The poem is about a single moment when the characters see that life has changed. The layers of meaning can be deep but on the surface it appears Robert Frost is discussing nature and its cyclical momentum.   Everything in nature moves through patterns. The poem indicates that

Art Review: The Kiss by Gustav Klimt

The Kiss is Gustav Klimt’s most famous and well known painting. Produced in 1908 in Vienna, Austria and incorporated oil and gold life on the canvas ( 1 ). This was unique for his time and represents both tile works with Asiatic influence. The painting and the romance it brings forward is still wonderment to onlookers. The picture depicts a passionate relationship between a man and woman in a sort of perfect place.  The couple is embracing, bodies entwined, wearing robes of wealth and decadence. It provides linear constructs of the Art Nouveau style and the movement of arts with crafts ( 2 ). The male is square and masculine while the woman painted is in curves to represent femininity. The couple is a pair with the woman and man equal in stature. They are in a field of flowers and appear to rise above it.  To many this painting represents the concept that love has no bounds. Social position or worldly wealth cannot hide what goes on under the fancy clothes and standard m

The Nine Parries of Saber Fencing

The Parry is important for defending against attacks and offers an opportunity to counter attack. Without learning parries it will be difficult to effectively compete in fencing. Your body will be generally open to seasoned fencers. Practicing defending against attacks using multiple parries is important for creating the highest levels of competitive skill. The most common parries used are Parry of Four, Parry of Six, Parry of Seven, and Parry of Eight ( 1 ). They are designed to protect your right side, left side, lower stomach, middle of your stomach. They are parries designed to cover the core areas of your body and help you defend against the majority of fencing attacks.   Prime: Stops a cut to the chest. Seconde: Stops a low cut to the flank Tierce: Stops high cut to the flank Quarte: Stops high cut to the chest. Quinte: Stops cut to head. Sixte : Stops cut to head. Septime: Stops cut to back. Octave: Stops cut to flank. Neuvieme: Protects Back Mic