How Do The Rich Pay for College?

If you’ve ever wanted to know how exactly various income classes pay for their college education, we’ve got some great information for you today.

Maybe you already know the answer, by the New York Times has a cool chart titled, “How the Typical Family pays for College, Average Amounts by Income Level”

Looking at the chart – it is glaringly obvious that those families where the income is $100,000 or more contribute double the amount towards their children’s college education than those families where the income is $35,000 to $100,000. All in all higher income families pick up the tab for half of their children’s college education – which makes it quite easier to afford a college education.

If you break that down further to a lower income group – we see that this “middle class” group contributes almost 4x as much towards their children’s college education then those families where the income is low (below $35,000). Obviously – low-income families cannot contribute that much, but the chart kind of gives you an idea of how everything stacks up.

How Families Pay for College?