(InvestigateTV) — A new Sallie Mae and Ipsos survey finds 49% of families borrow money to pay for college, up from 41% last year.
Kate Wood with NerdWallet said people often don’t think about the rising costs of everything associated with college, not just room, board, and tuition.
“For families that are looking ahead to college in the future the earlier you can start those conversations, how you are going to pay for college, the better off you will be,” Wood said. “Because you’ll have a stronger understanding of how much you might need to borrow, what sources of funding you have available to you and what kind of debt your student will be looking at coming out on the other end.”
For students currently looking for ways to fund college next year, Wood said just because they are offered a loan doesn’t mean that they need to accept it.
“NerdWallet research found approximately 1 in 5 …