Trending Now: Paying For College: Parents Vs. Students

-
The Wall Street Journal reports that students are taking on more debt than ever to pay for college - in 2012 students themselves borrowed 18% the cost of their college education.

Here's how families are paying for college, according to the Wall Street Journal:
  • 30% are coming from grants and scholarships
  • 27% from parents' savings
  • 18% from students borrowing
  • 11% from student income and borrowing
  • And 5% from relatives and friends
With all this debt, students are having a hard time. The Department of Education says one in ten students default on their loans within a year.

So should parents be paying for college?

The Wall Street Journal spoke to some experts to get both sides.

One expert is quoted as saying yes -- parents should pay - even if it means borrowing money to do so or even using part of their retirement savings. They argue that it sends a message to their children that it matters and they need to work hard.

But another expert reportedly says parents shouldn't be on the hook. Putting students in the driver's seat will make them value their college education more. And this will prompt students to make smarter decisions about college.

More Stories

  • Blessing Woksman is the Today in Amarillo producer and reporter for…

  • Chris Martin was born right here in Amarillo and has spent most of…

  • Angelina is the anchor for Today in Amarillo and a reporter.

Don't Miss

  • Weather
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Studio4
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Play Games
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • At the Movies
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Follow Us
    Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest News