College Costs and Payment Strategies

The rising costs associated with attending college, particularly room and board, have become a significant burden for families. With in-state tuition averaging around $6,000 per year, the combined total cost for students can reach approximately $27,000 or more when including housing and living expenses. Parents, like Claire from Maryland, express the necessity of financial planning, often resorting to scholarships and alternative funding sources to alleviate these costs. A prevalent strategy includes starting with community college to reduce expenditures before transferring to a four-year institution, enabling families to save significantly on education costs.