Parents spent 16 percent more on college during the 2014-15 academic year than the previous year, reports Sallie Mae. Their average expenditure (for “direct and indirect” costs) was $24,164. While the “rising cost of college undoubtedly influenced” that figure, says the college lending organization, the major factor was greater confidence in the economy.

Sallie Mae’s report is based on a survey in April of parents with college-age children.

For the first time since 2010, parental contributions surpassed scholarships and grants (32 percent of total spending vs. 30 percent). While all income groups reported increases in spending, the major impact came from high-income parents.

Parents made fewer moves to decrease costs, such as sending their children to a school nearer home or a less expensive school.

Families continued to borrow, of course. Those who borrowed spent more than those who didn’t, an average of $28,386 versus $21,219. Sallie Mae says that the difference in borrowing enabled students to attend more-expensive colleges.

Interestingly, only 38 percent of families borrowed money. Since the survey is limited to parents with children of traditional college age, this suggests that many borrowers are independent or older, since about two-thirds of all students graduate with debt.

All in all, the bubble isn’t bursting yet.