According to Sallie Mae's national study,
"How America Pays for College 2010" (conducted by the folks at Gallup), the average U.S. family covers almost a quarter of college costs with scholarships and grants -- but that's rarely enough to pay the entire bill. The average scholarship was about $7,800; according to
data from The College Board, the average cost per year at a public four-year college is about $9,000 -- about $35,000 per year for some private four-year colleges. And that's for undergraduates.
The study of more than 1,600 undergraduate students (age 18 to 24) and their parents also found that 43 percent of families received scholarships for the previous academic year, up from 40 percent the year before. And for those who are looking ahead to next year,
Sallie Mae's free scholarship search currently has more than 1 million scholarships -- $6 billion worth -- to which you can apply between now and February 2011.
My oldest stepdaughter hits college the same year my youngest son hits kindergarten -- year after next -- so tuition, scholarships, loans, and grants are high on our list of "Things We Really Should Be Thinking About Right Now, Or Perhaps Yesterday." November is, apparently, National Scholarship Month, and to that end Sallie Mae is offering parents and high school students a chance to chat with author and scholarship expert Kelly Tanabe tomorrow (Wednesday, Nov. 17) from 9 to 10 pm. (EST). The chat will take place on
Sallie Mae's Facebook page, so you can
sign up to participate or lurk at their wall as you see fit.
Tanabe is the co-author of 12 books on the college admissions process and on paying for college; her latest book is
The Ultimate Scholarship Book 2011. I asked Erica Eriksdotter at Sallie Mae for some tips for parents who are looking to pay for college soon; during the chat, Tanabe will be addressing ideas like these and many others. Here's what she shared with me: