This Sallie Mae graphic shows that the average spent for college annually is $26,458. You can get a strong college for less.  Just get our OTC book: America’s Most Affordable Colleges: Our Definitive List, which is part of our OTC College Counseling System.

Also, on average, families are borrowing $6,350 to pay that annual bill, with parents themselves taking on $2,646 of that in loans.  It’s your call, but OTC believes that only students should borrow and no more than $5,000 per year.  Parents, by saving all these years, have contributed enough and should save their resources for themselves.

Here are the numbers:

Average spent per year for college: $26,458.

Average borrowed = 24% of total

14% borrowed by student = $3,704

10% borrowed by parents = $2,646

$6,350 per year.

Check out the chart.  And be sure to graduate with minimal debt!