Parents Not As Willing To Pay For College

By: Channel 6 News Email
By: Channel 6 News Email

Parents are starting to pull back on what they are willing to spend to send junior to the best college.

According to a new report by student lender Sallie Mae, a growing number of parents are rethinking the price-tags on a child's college tuition.

About 51% of parents surveyed "strongly agreed" that they would stretch financially to send their child to college.

That's down from 64% of parents last year...marking the first time that number has dropped in the survey since 2007.

Experts say the about-face is largely due to the economic downturn's impact on families' finances.

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