Financial aid is now the single biggest source of funds in paying for a college education, according to new research. Scholarships and grants make up more than a third of college costs, outstripping the contributions made by parents and students themselves. Scholarships and grants paid for 35% of college costs in 2016/17, according to an annual survey of parents and students carried out for college finance company Sallie Mae. It was also the first time financial assistance made the largest overall contribution towards college costs. In that case, and in the face of the rising cost of college, financial aid is only likely to become more important in paying for a college education.

Source: Forbes July 21, 2017 21:45 UTC