Between $35,000 and $100,000: $8,384
Less than $35,000: $7,237
Grants and scholarships: 30%
Parent income and savings: 27%
Student borrowing: 18%
Student income and savings: 11%
Parent borrowing: 9%
Relatives and friends: 5% The good news for all families is that, despite reports of soaring tuitions and fee hikes nationwide, the average annual amount spent on college has trended down over the past three years, according to Sallie Mae data -- from $24,097 in 2010 to $21,178 this year. parental contributions to college costs are down 35% since 2010, to $5,727 from $8,752 -- or, percentage-wise, down 37% to 27% of all college spending in the past three years. The Great Recession, apparently, was a real game changer for parents. "Affordability" is the watchword for college-bound families. "In this post-recession environment, families overwhelmingly believe in the dream of college, yet they are more realistic when it comes to how they pay for it," says Jack Remondi, president and chief executive of Sallie Mae. "The study found that the majority of families do not have a financial plan to pay for college. We recognize that having a plan, however, increases the likelihood of success. That is the ultimate goal, for students, families, schools and for us."