Nightly News   |  July 23, 2013

Families spending less to fund college

As families try to figure out how to pay for college, a new report suggests there’s a shift in how families are paying for the rising cost of tuition. NBC’s Rehema Ellis reports.

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>>> news tonight concerning the rising cost of college in this country as congress and the white house continue to try to iron out a compromise on student loan rates. a new report is out, it reveals how more american families these days are making it work without student loans . our chief education correspondent rehema ellis here with more on the studio.

>> several things are happening, including a new trend that shows families are spending less of their own money on college. paying for college, in fact, two thirds qualified for scholarships and grants to help cover the costs. if you look at the breakdown, that accounts for any other type of funding, more than parents and more than student loans . when it comes to picking colleges, the majority of families ruled out certain colleges because of the price. and to further keep expenses under control, 67% of students lived at home, not on campus. scholarships and grantses are available, and people should not assume they won't qualify. experts say it is very much worth applying. if you apply, you might get that scholarship and grant.