American families are making the investment in higher education the smart way – by pursuing grants and scholarships more frequently than borrowing – according to Sallie Mae’s How America Pays for College study, conducted by Gallup. The study found that among American families, 51 percent received grants and scholarships, 25 percent of students borrowed federal loans, 12 percent of students borrowed private education loans and 5 percent used credit cards to pay for college expenses. Fifty-eight percent of families paid for college last year without borrowing at all.
