Expenses determine decisions on college

Parents Forum
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<p>"College costs are driving decisions about which schools to attend, what to study and even where to live, according to a report from loan giant Sallie Mae … Parents no longer foot the largest portion of the bill, according to the lender’s annual survey. That role goes to grants and scholarships, with student loans coming in third." …</p>

<p><a href="http://www.fredericknewspost.com/news/economy_and_business/business_topics/finance/article_95b5da74-ec29-5fd3-965c-c30f85c7af91.html"&gt;http://www.fredericknewspost.com/news/economy_and_business/business_topics/finance/article_95b5da74-ec29-5fd3-965c-c30f85c7af91.html&lt;/a&gt;&lt;/p>

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<p>Either I am missing something or that’s the worst explanation ever of spending for college.</p>

<p>College spending per student is $21,000</p>

<p>Students earned $6,300 in scholarships and grants.</p>

<p>Parents chipped in $5,727,</p>

<p>Avg student borrowed $8,815 in federal loans.</p>

<p>Per year? Every year? What IS college spending? Are the loans included in college spending?</p>

<p>Help me out here.</p>

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<p>Costs are a driving decision for almost everything in responsible people’s lives - from where we live to what kind of car we drive even to the food we eat and how many children we have. I’m not sure why it’s news that higher education has limitations arising from cost.</p>

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<p>@sax, it specifically states “College spending per student was about $21,000 during 2012, down from a peak of $24,000 in 2010”. Annual costs. If you add up the grants, the parent amount and the loans to the student you get ~$21K.</p>

<p>I’m not sure how the “average student” was able to borrow $8815 in federal loans…</p>

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<p>SRSLY, this is news?</p>

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<p>I’m with halfemptypockets - - costs drive almost all of our purchasing decisions - that’s why so many schools offer discounts!</p>

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<p>Nope :wink: </p>

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<p>@Erin’s Dad
I think that include parent plus loan.
That $21000 annual cost appears low for most 4-year college, even for in state pubic. For us, cost is a major factor in the decision, but it is not THE factor for consideration. Affordability is the top factor though. If it is not affordable, it is definitely a no no.
We are comparing scholarships, financial aids, CoA, and other factors. Right now, we are leaning toward a school that neither offer the biggest scholarship, nor the lowest out of pocket cost, but somewhere in between. We would not make the decision until we see all the financial aid packages.</p>