Scholarships cover larger portion of college tuition than parents: Report

July 23, 2013 3:14:07 PM PDT
Parents are picking up less of their children's college costs, while grants and scholarships now have the top role in covering the bills.

That's according to a report released Tuesday from Sallie Mae and IPSOS Public Affairs.

The report finds that last year, the average family turned to grants and scholarships to cover 30 percent of college costs.

Parents' income and savings and student borrowing covered the rest.