Rising Tuition, Finances Hit College-Bound Students

By: WOWT Email
By: WOWT Email

Between damaged household finances and rising tuition, college-bound students are feeling a double squeeze.

Some families find they're choosing between expanding their search or opting for less expensive options such as state schools or community colleges. Some students are choosing to live at home, instead of in a dorm. Other families are taking on additional debt to make up the difference.

For freshman Griffin Boyle of McLean, Va., the best choice wasliving at home and studying at a nearby university, instead of going out-of-state.

Financial planner Ivan Nalibotsky says most families are "licking their wounds" because of the economic meltdown. He's advising families to try to avoid raiding retirement savings to pay for college.

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