How Are Americans Managing to Pay for College?

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July 23 (Bloomberg) -- Bloomberg's Carol Massar explores the varying ways U.S. families are paying for a college education. She speaks on Bloomberg Television's "Market Makers."

More than credit card debt.

More than auto loan debt.

More than any other category.

The only thing bigger than that is mortgages.

The numbers continue to astound us.

It has grown 20% from the end of 2011 to may of this year.

Much faster than growth and revolving credit products.

Even as student loan debt is growing, families are grappling big time with paying for college education.

One of the outcomes of the recession and slow economic recovery.

A new study out, how america pays for college just released.

They are relying less on their income and savings.

On behalf reported using grants and scholarships to pay for college, this year to third the family did.

Parents are contributing less and saving sports college costs.

The reduction in spending has occurred at a greater rate than the overall decline in the total spending of college.

We had a chart their that breaks down where parents are shelling out money.

That takes a look at where money is going out today.

27 percent is the amount apparent income and savings going to colleges and that is down from what it was earlier.

Student borrowing has increased to 18%. about 14% in 2008 and 2009. grants and scholarships now, 30 percent of college costs that.

Five years ago it was about 25%. i wonder if this is changing the attitude of the expensive scholarships.

We talk about what college costs and how it is outpacing inflation.

We do have families becoming much more cost-conscious.

This compares to 58 back in 2008 when it to the first year of the study.

It has definitely raise awareness.

Raised awareness for a very

This text has been automatically generated. It may not be 100% accurate.

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