Student borrowing Grants & scholarships Parent borrowing Parent income & savings Student income & savings Relatives & friends Families typically use multiple sources to pay for college. Although grants and scholarships may play an important role, the largest percentage of funds usually comes from parents and students in the form of savings, current income, and loans. Paying for Higher Education About 78% of families factor in the price of a college when narrowing their list of schools. Source: Sallie Mae, 2023 11% 29% 2% 10% 8% 40%
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