The average high school student is bombarded with the idea that college is the next step in their life. With promises of higher incomes and a better life, most young adults will attend some form of college. Paying for college in the 70s & 80s was easily accomplished with a part time summer job. That is not the case anymore.

According to, the tuition of the average state university is around $10,000 not including room & board. Private institutions can be more than double that! The amount of money required for four years of education is enough to buy a reasonable home. Unfortunately, if loans are the sole source of your tuition money then you could start off your early 20s over $80,000 of debt.

I was lucky enough to attend college with only $30,000 of student loans thanks to help from my parents. This equaled out to around $300 a month in payments. Fortunately, I was always able to afford that payment and my student loans are almost completely paid off. But those young adults who owe close to $1000 a month have almost no ability to save for their future.

Don't let the cost of college deter you from going though. College is a great opportunity to learn how to function independently which believe it or not, is a declining skill set among today's youth. Just be careful what you are choosing, if you are going to a top tier private college to study under water basket weaving, don't be surprised if you can't find a career to pay for it.