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!
