Many families feel confident about paying for college — until tuition bills arrive. Here's how they're covering costs

With the start of fall semester just weeks away, sky-high college costs are an extreme pain point for most students and their parents.

A recent report by Citizens Financial Group found a growing “confidence gap.” While 59% of parents said they were confident about managing college expenses when their child was accepted, just 21% said they felt prepared for the actual cost once tuition bills arrived.

“We know the cost of attendance continues to grow, and a lot of forms of federal lending and grants and aid have not kept pace,” said Chris Ebeling, head of student lending at Citizens.

“Families felt like they were going to be OK, but once those tuition bills arrived, that number plummeted,” Ebeling said.

In April and May, Citizens polled more than 1,000 parents of children aged 13 to 29 who are either planning on attending or have some experience with college.