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Survey Reveals Parent's Concerns About College Costs
SAN DIEGO -- Who's concerned about paying for their son or daughter's college education? Nearly everyone, according to a national survey underwritten by national student loan provider Student Loan Xpress Inc., a subsidiary of Education Lending Group Inc.The survey, conducted by international research firm Wirthlin Worldwide, indicates that only one of 10 parents is not at all concerned about paying for college. Further, nearly 50% are narrowing or planning to narrow their child's choice of schools because of financial reasons, and 17% think their son or daughter may not be able to attend college.Despite growing anxiety about paying for college, parents' knowledge of student loans still remains relatively low. According to the survey, 52% of parents of college-bound high school seniors have considered applying for a loan, but 74% of that group have not yet applied. Among those who have not yet applied, 18% have not yet chosen a particular school; 15% are waiting for information on a scholarship; 14% are still in the process of completing paperwork; and 12% they feel it's just too soon.Other survey findings include:75% of parents expect their son or daughter to contribute to their college education, with about 67% of that group assuming their child will work while in college.74% of parents also believe that college will provide an excellent or very good "return on investment" for their son or daughter.While understandable, parents should not let financial concerns keep their children away from schools of their choice. "There are so many possibilities available to parents and families to assist them in financing a college education, whether they are grants, scholarships, work-study or student loans," says Fabrizio Balestri, president and chief executive officer of Student Loan Xpress"If families haven't already, they should contact their child's college financial aid office today to explore their options."Student Loan Xpress Inc. is a national lender of Federal Stafford and Parent Loan For Undergraduate Students (PLUS) loans and provides access to alternative (private) education loans.Visit Student Loan Xpress Inc.:www.studentloanxpress."