What have you always wondered about the economy? Tell us

Paying tuition in installments

Marketplace Staff Aug 14, 2006
HTML EMBED:
COPY

Paying tuition in installments

Marketplace Staff Aug 14, 2006
HTML EMBED:
COPY

TEXT OF STORY

MARK AUSTIN THOMAS: It’s back-to-school for a lot of the nation’s community colleges. With tuition rising, Charla Bear says students are trying something new to help meet expenses.


CHARLA BEAR: An increasing number of community college students are opting to pay their tuition in installments.

Community colleges across the country are allowing students as many as 10 payments per semester. Many colleges are feeling pressure to fill seats as tuition escalates. And students, most of them commuters, are feeling the pinch of rising gas and energy prices.

Those factors are making interest in payment plans surge.

Nina Vellayan is with Sallie Mae, the nation’s largest provider of student loans.

NINA VELLAYAN: It is truly our fastest growing segment. From last year the growth we saw was 10% – the growth this year is 25-30 percent.

Fees for the program range between $15 and $50.

I’m Charla Bear, for Marketplace.

Marketplace is on a mission.

We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.

Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?

Your donation is critical to the future of public service journalism. Support our work today – for as little as $5 – and help us keep making people smarter.