The New Normal

Very interesting article this week in the Wall Street Journal on the trend of parents giving their children less cash to pay for college expenses.

According to this article, parents contributed $5,727 from income and savings in the 2012-13 academic year, compared to $8,752 in the 2009-10 academic year – a drop of $3,025.

allowanceInterestingly, the importance parents place on their children obtaining a college degree continues to trend upwards (at 85% in 2012, compared to 80% in 2008). However, at the same time, Sallie Mae’s report indicates “that families are increasingly choosing where to apply for college based on cost.”

Is this the new normal on your campus?

alton