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      Americans Borrowing Less To Pay For College

      A growing number of Americans are paying for college out of their own pockets.

      That's according to Sallie Mae, which specializes in educational financing.

      In the last school year, 42% of college cost was covered was covered by parents or student income or savings.

      The previous year, it was 38%.

      The report shows families borrowed 27% of college costs last year and this year it's 22%.

      Many parents are cutting costs in areas like student housing and textbooks.

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