From Bloomberg: “Parents are shouldering an increasing percentage of the burden. More than half of the cost of college for the average student is met by parents, largely through income and savings, with some borrowed money as well…
$22,985 – Total amount saved by parents of a child aged 13 to 17, in a 2018 Sallie Mae/Ipsos study
$22,391 – Average cost of one year of college tuition, after scholarships and grants, in a 2020 Sallie Mae/Ipsos study.”
