College tution rising faster than scholarships: "'In other words, the growth in grant aid was not enough to offset the price increases,' said the report, 'Paying for College.'
At the same time, families became more likely than ever to take out student loans, and the average size of student loans reached record highs.
'The resulting increase in borrowing has been one of the most dramatic changes in financial aid in the decade,' said the report, which was issued by the department's National Center for Education Statistics.
Susan Choy of MPR Associates Inc., who directed the center's study, said, 'Growth in tuition and fee increases also outpaced both inflation and growth in median family income.'"