College/university/trade schoool education presents an interesting economic model where very few actually pay 'list price'. Only the truly wealthy pay full list for the prestige institutions (e.g., Harvard, MIT, Princeton, Carnegie-Mellon). It's much like the 'rack rate' at hotels which only a few fools pay.
Every school 'finds a way' to gouge as much as they can while remaining at the extreme margin of every family's 'affordablibility'.
A dirty little secret is that it does not pay for parents to save for their children's education. The institutions will simply grab the savings account and charge you what they would have anyway.
Now that Uncle Sugar has taken over the student loan industry cheap money and extravagantly lenient repayment terms are available to everyone who wants to 'buy in' to the proposition that entering adult like with no home, no car, and a six-figure debt is the 'way to go'.
post edited by MetroplexJim - 2014/03/23 08:47:25