Many families are shocked by a college's sticker price. While the price of tuition can be overwhelming, college financial aid can make higher education affordable.
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In fact, income and savings represent only a few of the resources families use to pay students' college expenses, according to the 2020 Sallie Mae/Ipsos survey How America Pays for College. The survey found that for a typical family, scholarships and grants covered 25% of college costs in 2019-2020. Scholarships and grants are two types of college financial aid that don't need to be repaid.
