For years, Kiplinger’s has been advising parents that one way to keep higher-education costs under control is to have their kids attend community college for a year or two and then switch to a four-year school. This year, they finally listened to us — with a vengeance.
Community colleges are packed to the gills, and students are flocking to state institutions across the board. The average annual sticker price for a four-year public school remains a tad over $15,000 — less than half the tab at a private institution. In our exclusive rankings of the 100 best values in public colleges, nearly 40 percent charge in-state students less than the average price, reports Senior Associate Editor Jane Bennett Clark.
There’s nothing like a financial crisis to get families to focus on how much they’re paying for big-ticket items such as college expenses. Surprisingly, they haven’t always done that. In 2008, a survey of parents and students by Sallie Mae found that when deciding whether to borrow for college, a whopping 70 percent said a student’s potential postgraduate income did not factor into the discussion.