For the past 13 years, Sallie Mae's "How America Pays for College" study has surveyed American college students and parents of undergraduate students about their attitudes toward college and how they paid for it. The research examines families' attitudes toward the value of a college education, their key considerations about what school to attend and how to pay for that education, and steps taken to make it more affordable. "How America Pays for College 2020" considers the range of resources families draw on to pay for college--from federal financial aid programs to extended family support, and from college savings plans to credit cards--and evaluates trends in attitudes and payment resources over time. The annual study reflects the results of online interviews Ipsos conducted, with: (1) 996 parents of children ages 18-24 enrolled as undergraduate students; and (2) 1,000 undergraduate students ages 18-24. The research was fielded between March 30 and April 27, 2020. Dollar and proportional amounts in this report are averages that reflect composite representations intended to illustrate how the "typical" family pays for college. The composite is a computed formula that spreads individual responses across all survey respondents. The data collection period for this study took place during the COVID-19 pandemic. Given this environment, the 2020 study was augmented with forward-looking questions to help begin to understand how the pandemic influences families' higher education perceptions and plans. [For the 2019 report, see ED608913.]