A survey of parents of college-bound seniors found that most parents are encouraging their children to consider in-state public universities or otherwise limit their choices to inexpensive institutions. The survey, conducted by ApplyWise.com, found that 88 percent plan to limit spending because of today's economic downturn. Less than a third said economic factors would not influence their college selections.
Two-thirds of those who were surveyed said that they intend to apply for need-based scholarships, and 53 percent will ask for government and private loans. Many plan more drastic ways of financing college: seven percent will sell real estate, 11 percent will liquidate a retirement fund, and 27 percent will take out a second mortgage.
Labels: college, economics, student_loans
Posted By: Aspen Education Group