Students Making Sacrifices To Meet College Costs | WAMU 88.5 - American University Radio

WAMU 88.5 : News

Filed Under:

Students Making Sacrifices To Meet College Costs

Play associated audio
Students are bearing more of the financial burden of student loan debt than in years past.
http://www.flickr.com/photos/nohodamon/3580748194/
Students are bearing more of the financial burden of student loan debt than in years past.

Despite the rising costs of higher education, and less financial assistance from home, more students are finding ways to pay for college on their own.

Raphael Jaimes, a Ph.D student at George Washington University in the District, calls Arlington home. Jaimes says it's cheaper to live in Arlington, and to help pay for school, he's cutting back in other areas.

"Unfortunately, I feel like I have to cut costs when it comes to food as well," says Jaimes.

He's not alone. The nation's biggest student loan provider, Sallie Mae, says the burden has shifted to students to pay for higher ed. A study conducted by Sallie Mae (pdf) shows that parents are scaling back when it comes to helping their kids pay for college. Parents spent an average of $5,955 on tuition in 2012, down from the high of $8,752 in 2010.

Adding to the burden, figures show 10 percent fewer scholarships are being handed out as compared to 10 years ago.

Instead, students are increasingly turning to federal student loans to make up the difference. Both percentage of students using federal loans and the amount borrowed reached five-year highs in 2012, at 34 percent and $7,874, respectively. As a consequence, student loan debt topped $1 trillion earlier this year, according to the Consumer Financial Protection Bureau.

NPR

Wounded Bull-Runner: 'If You Run Long Enough, You Get Gored'

Bill Hillmann, a writer from Chicago, contributed to the book Fiesta: How to Survive the Bulls of Pamplona. He was gored at this year's running of the bulls in that city, but says he plans to return.
NPR

What If The World Cup Were Awarded For Saving Trees And Drinking Soda?

We thought you'd get a kick out of seeing how the four teams in the final World Cup matches stack up in global health and development.
NPR

What Could $100 Million Buy You — Besides Campaign Ads In Kentucky?

Spending on the Kentucky Senate race might reach $100 million. So what else could that get you in the Bluegrass State? NPR's Tamara Keith finds out when she calls up some local business owners.
NPR

Looking For Free Sperm, Women May Turn To Online Forums

Bypassing commercial sperm banks, thousands are logging on to websites where women can connect with men at no cost. Anecdotes abound, but the scope of the unregulated activity is unclear.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.