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Acceptance Letters In Hand, Students Wonder How To Pay

(silversnake852/Flickr)
(silversnake852/Flickr)

It’s that time of year again — when college acceptance (and rejection) letters find their way into the hands of nervous high school seniors. But that’s the easy part. Exponentially more complicated is figuring out how to pay.

The average cost of four-year-private college in 2013 was $30,094. The sticker price at in-state public colleges is close to $9,000 or $22,000, if you’re coming from out of state. And those jaw-dropping estimates don’t include room and board, books or even an apple to give the teacher.

So what should families do? Here & Now’s Jeremy Hobson turns to Dan Caplingter, director of investment planning at The Motley Fool and he’s written extensively about the highly fraught issue.

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