How America Pays for College: A study by Gallup and Sallie Mae

Working with Sallie Mae, Gallup has successfully developed the first-ever mathematically representative picture of how the typical American family pays for college based upon in-depth statistical analysis of a nationwide survey of more than 1,400 parents and students. In addition this study provides critical insight into the attitudes, choices, and real concerns of American families in how they plan and pay for college.

While other studies give key insight into availability of aid and college costs, this study is the first and most important of its kind in providing a comprehensive understanding of the reality that Americans are facing and living each day to make higher education possible for their families. Simply put, this study is "How America Pays for College" (PDF 3.0MB).

It is obvious that this study comes at a critical time. Today's American family faces numerous opportunities and challenges. Increasing international competition is changing the face of the global economy. During times of economic uncertainty or distress, many Americans re-evaluate their level of higher education and training and begin the process of expanding their education to be better positioned to achieve the American Dream. This means that there is no better time to engage in a national dialogue about how best to meet the needs of all families who face the opportunities and challenges of investing in a higher education. Some of the results are reassuring, some are concerning, and some are just simply fascinating; however, all the results are an essential guide for those who care about improving higher education.

As the nation’s leading savings- and paying-for-college company, Sallie Mae is committed to presenting in-depth findings from this national How America Pays for College study annually to help demonstrate how public policy, economic conditions, and attitudes about the pursuit of higher education evolve over time — and to show how this evolution impacts the American family's ability to pay for college. This study will be an essential benchmark to gauge whether we are making progress and will let us know what more needs to be done.

We invite all stakeholders with an interest in ensuring that the nation's system of higher education is working for all American families to examine the data and findings in How America Pays for College. Further, we look forward to working together to empower all families to maximize the benefits of a higher education system that is the envy of the world.