College costs are rising in geometric
proportions, outpacing the rate of inflation nearly five times over. The percentage of household income needed to pay for college today is as high as 29.3% in some states, a rate that hovered at around 7% in 1980. Yet, a college education remains a key requirement for career advancement and higher earning potential. Full-time workers with a bachelor’s degree earn an average of 84% more over their lifetime than those with only a high school diploma.
What’s a parent to do? We want our children to go to college, yes, but we don’t want to go broke sending them, nor do we want our kids to be burdened with debt when they graduate.
Average Student Debt 2000
Average Student Debt Today