Students and parents borrowing less to pay for college

``Borrowing reached its lowest level in five years as families paid for more expenses out of pocket and cut back on costs in a variety of ways, according to an annual survey of 1,600 college students and parents by Sallie Mae and market research firm Ipsos... On average, college students and their parents borrowed 22% of total college costs in the 2013-2014 school year, compared to 27% two years ago... A key factor: a growing percentage of students are seeking to cut costs by attending two-year colleges instead of pricier four-year institutions.''