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Parents pay college costs amid recession: study

A new Gallup poll found that more than half of U.S. parents use their income to pay all or part of college costs for their children and are confident they can continue to support them amid the country’s recession.  According to Reuters, the poll, which was commissioned by student loan provider Sallie Mae and released Wednesday, found 55 percent of the 800 parents surveyed paid on average $7,175 for the 2008-2009 academic year from their income.  Despite tough economic times, 67 percent of parents said they were confident in their ability to meet the cost of education, while 13 percent had little or no confidence.

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