More and More Parents to Kids: 'Pay Your Own Way Through College'

More and More Parents to Kids: 'Pay Your Own Way Through College'

Sorry, future college kids.

When it comes to higher education, more and more moms and dads say they won't be footing the bill.

That's according to this year's Discover Student Loans report, which found that just 75% of parents plan to help pay their student's college costs—down from a high of 81% in 2013.


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Even among those parents who do plan on covering some costs, they likely won't be paying as much as those in the past: only 9% of survey respondents said they would take care of the full cost of tuition, compared to 11% last year.

And skyrocketing tuition seems to be having an impact in other areas as well: almost half of parents said that they're now planning on limiting their child's college choice based on price, up from just 44% a year ago.

But regardless of where they go, students might have a shot at getting the 'rents to chip in if they do one key thing: opt for a money-making major. About 44% of parents said they would be more willing to pay for college if their student selected a lucrative field.

And despite the dropping share of parents who feel they can help pay for college, a steady 81% still believe that pursuing a college degree is an important facet in their child's future—a percentage that has stayed about the same for the past few years.

RELATED: Money Mic: How I Saved $70,000 to Send Two Kids to College


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