More Evidence That Colleges Are Giving Money to Those Who Need It Least

Photograph by Dominic Cram/Getty Images

The private student lender Sallie Mae has released its annual look at “How America Pays for College,” which continues to show how the Great Recession shook up college funding. The share of college costs that parents are shouldering has shrunk in recent years. In 2009-10, parental income and savings covered an average of 37 percent of college costs. This past school year, that fell to 27 percent. The dollar amount parents paid from savings and income fell 35 percent, to $5,727.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.