Record Numbers of College Students Relying on Financial Aid

Newsmax reports:

For the first time, a majority of U.S. college students are relying on federal financial aid to fund their educations and increasing numbers of students and their families are willing to go into debt to pay for college.

According to Politico, figures from the Education Department reveal that some 57 percent of those pursuing college degrees are relying on grants and loans. The data covering 2011 and 2012 is updated every four years, making the current analysis the first snapshot of student funding since the economic downturn that began in 2008.