Sallie Mae’s national study of college students and parents
Conducted by Ipsos
Find out how families paid for college and their perceptions about the value of higher education
Join the discussion at #HowAmericaPays
Families spent an average of $25,313 for academic year 2021-22, down 4% from $26,373 in 2020-21
of families used income and savings to cover college costs
of families used scholarships and grants
of families used borrowed funds, including student loans
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70% of families completed the FAFSA® for academic year 2021-2022
FAFSA® is the gateway for families to access more than $112 billion in grants, scholarships, and federal financial aid for higher education. States and colleges rely on information from the FAFSA® to determine need-based aid.
of families who didn’t file the FAFSA®
believed their income was too high
to qualify for any financial aid
had problems with the application
or thought it was too complicated
Most families (78%) are willing to stretch themselves financially to help the student experience those opportunities
Paying for college tip
Our College Planning CalculatorSM shows you the full cost of college by factoring in your savings, scholarships, grants, loans, and expenses, so you can create a plan to pay with confidence.
While 75% of online learners rated their experience as good or excellent, the majority of families (78%) still prefer to have an in-person learning component
prefer in-person only learning
prefer hybrid learning, with some classes in-person and some online
How America Pays for College 2022 research report
How America Pays for College 2022 infographic
How America Pays for College 2022 news release
Join the conversation with #HowAmericaPays
How America Pays for College 2022 reports the results of online interviews Ipsos conducted in English between April 5, 2022 and May 4, 2022, with 953 parents of undergraduate students and 952 undergraduate students between the ages of 18 and 24. Data and years shown reflect the academic year July 1, 2021-June 30, 2022
FAFSA® is a registered service mark of U.S. Department of Education, Federal Student Aid
