We have probably all seen the figures. Private colleges can cost over $60,000 a year while state universities can cost well over $20,000. Add in the cost of living, transportation, and incidental expenses and it can amount to an awful lot of money. Savings of $250,000 per child is simply not feasible for most people. However, there are many options to lower the cost of post-secondary education.
Some state supported schools are significantly less costly, as well as community colleges, which tend to offer even lower costs. Increasingly, students are spending two years at a community college close to home before attending a college or university for their final two years of school. This approach saves money in two ways, lower tuition and a lower cost of living. Certificate programs are another low cost option. Some areas may also have an apprenticeship program which allows you to learn a trade while you are on the job. This could be the most affordable option of all and still leads to a good career for the right person.
As in so many things, information is your friend. Get educated about the different educational and financial options that are available, so that you can pick what is best for you or your child.