" BOSTON (CBS) — This might help people understand why the debate around student loan interest rates has been so heated in Washington.
More and more families are relying on loans to send the kids to college.
I’m sure I don’t need to tell you how expensive college is. But a new report from lending giant Sallie Mae shows us how American families are coping.
Parents are contributing less of their own income and savings and relying more on grants and scholarships, with two thirds of families using them to make-up the difference.
That’s an all time high. But it’s not high enough to get students themselves off the hook.
More and more of them are reaching into their own pockets – contributing to 18% of the cost, according to the report obtained by USA Today "
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