Baby boom generation: "the first generation shifting the cost of college to their kids," Dynarski says
Student Loan Ranger, an Equal Justice Works education blog hosted by U.S. News & World Report, cited Susan M. Dynarski's research in its latest post, "Pervasive Student Loan Debt Penetrates Middle Class."
According to the blog:
"Susan Dynarski, professor of education and public policy at the University of Michigan, identified this decreased support from taxpayers and increased student borrowing as ways in which '[t]he boomers are the first generation shifting the cost of college to their kids.' In 2012, students from families earning $100,000 or more paid a greater share of their costs than in 2009 (23 percent, up from 14 percent in 2009).
"Parents contributed less. They paid 52 percent in 2012, compared to 61 percent in 2009. Students used loans, income, and savings. More than one third of students from families making $95,000 to $125,000 who entered college in 2011 had parents who didn't save for their education."