Who pays for college education? Not mom and dad

Thursday, July 25, 2013

A new study finds parents are footing a smaller portion of the college tuition bill as families become more cost-conscious.

The burden is shifting to the student, who now has to depend on money from other sources to pay for rising college costs – and many are also finding "free money" to pay for a large chunk of the tab.

According to a new report released Tuesday by Sallie Mae, scholarships and grants have trumped parental contributions as the number one source of paying for college for the first time in four years.

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