College costs keep rising, and students are piling on more debt than ever before. But here’s a trend you may not know about.
More and more families with means are downshifting from private or expensive schools to lower cost community colleges:
“Many predict any rise in rates could push more families to seek out less-expensive colleges—furthering a shift that is already underway. Roughly 22% of students from families making $100,000 or more a year attended a community college during the 2010-11 school year, compared to 12% the year before, according to the latest data from student lender Sallie Mae.”
Annamaria Andriotis, Wall Street Journal, April 23, 2012, “Families Study Plan B With Possible Stafford-Loan Rate Spike“