With the cost of higher education in the U.S. rising tremendously each year – over 500% since 1985 – it is no wonder students and parents get into so much student loan debt. I mentioned that there are proposals being written to try and change that, but until those proposals are put in place, we have to deal with this price gouging if we want to get a college degree.
There are a few things we can do to avoid student loans, like 529 plans and working through college, but the fact remains that we still have to pay for tuition – unless we get a scholarship.
A college education is becoming more and more of a necessity. Study after study has shown that people with a bachelor’s degree earn on average 66% more than people with only a high school diploma.
That being said, there are definitely ways to lower the cost of a college education. You could go to a in-state public school for example. But even if you go to an out-of-state school, you could potentially save a lot of money by living off campus.