It doesn’t take a degree in finance to see the cost of college continues to rise.
In its 2017 report, the College Board showed that public four-year institutions raised prices an average of 3.2% annually between the 2007-08 and 2017-18 school years. Put another way, a $5,000 education in 2007-08 would cost $6,851 in 2017-18.
For a few families, the lion’s share of education costs falls on parents and, in some cases, on grandparents. Generally the majority of families rely on a combination of scholarships, grants, financial aid, part-time jobs, and parent support to help pay the cost.
There are a number of resources that can help individuals prepare for college. The U.S. government distributes certain information on colleges and costs. Here are two sites to consider reviewing:
The government’s college and financial aid portal.
The group that administers the SAT test.
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