Grants, scholarships key to paying college bills

College Tuition
Posted at 6:06 AM, Jul 23, 2013
and last updated 2013-07-23 02:11:21-04

WASHINGTON (AP) — Grants and scholarships are taking a leading role in paying college bills, while parents are picking up less of the costs. That's according to a report from loan giant Sallie Mae.

Since the recession, more college-bound students have eliminated schools from their searches based on costs and have relied less on their parents once they get to campus. The report released Tuesday finds that worries such as tuition increases and job losses seem to have faded as the economy has improved, yet parents and students still make decisions on schools, majors and work schedules based on the price tag.

College spending per student was about $21,000 during 2012, down from a peak of $24,000 in 2010.