More Scholarships, Less Borrowing: Sallie Mae Study

Students and their families are receiving scholarships and grants to cover more of the price of college, according to the latest installment of an annual survey conducted by Sallie Mae, the student lender. The survey of 799 undergraduates and 799 parents of college students found that scholarships and grants funded 34 percent of college expenses last year, up from 30 percent the previous year. Yet only 13 percent of students and families were able to pay for college exclusively with scholarships, grants or contributions from relatives and friends. And for 40 percent of families, both the student and parent paid for at least part of college.