How Typical Families Pay for College, 2018-19

American undergraduates spent an average of $26,226 on college for the 2018-19 academic year. Grants and scholarships covered a larger share of the cost of college than did student and parent borrowing combined for students from families at all income levels.

Distribution by income level

Average total amount paid

Note: Results are based on online interviews conducted in the spring of 2019 with 1,000 parents of 18- to 24-year-old undergraduate students, and 1,000 18- to 24-year-old undergraduate students. Low-income families are defined as those with an annual income of under $35,000, middle-income, $35,000 to $99,999; and high-income, $100,000 or more. Questions or comments on Almanac should be sent to Ruth Hammond.

Source: Sallie Mae, “How America Pays for College 2019;” survey conducted by Ipsos Public Affairs

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