How Are Students Paying For College Costs?

Student Loans Defaults

Interesting article on a recent survey by Citigroup and Seventeen magazine of high school seniors and college students regarding how they are paying (or planning on paying) for education.

Here are some of the responses that grabbed my attention:

  • Nearly 4 out of 5 college students are working part-time, but only 18 percent pay their way through school.
  • Hang on to your cell phone!  Survey found the cell phone bill is the only expense that parents are most likely like to cover.
  • 62% of college students plan to maintain a budget.
  • 61% said college costs more than they expected.
  • Students are slightly more likely than parents to fund their housing costs.
  • How students plan on scrimping:  these range from buying groceries instead of dining out to renting textbooks and avoiding using a car.
  • Despite the cost of a college education, 94% of respondents believe college is a good investment.

What do you think about the survey responses? airwin