|
10/29/2007
The College Board recently released a report with information about the growing cost of college and the resources, including loans, grants and other college savings mechanisms, families are using to try to keep pace. According to the report, the cost of attending a private college in the 2007-08 academic year is 6.3% higher than last year, and opting for a public school cost 5.9% more as well. To help offset some of those costs, approximately three-quarters of full-time undergraduate students receive financial aid in the form of federal loans and grants from other sources.
Private loans made up 24% of all educational loans in 2006-07, also helping to reduce the cost of college. Parents planning for future educational expenses saw their assets in college savings plans (including prepaid tuition programs) increase to $122 billion.
More data regarding college costs and financial aid is available in an article on the CNNMoney Web site.
|
