By Sarah Cecil
It’s almost back-to-school time. If you have young children going to public schools, your biggest expenditures may be on pens, pencils and notebooks. But if you want those same kids to go to college someday, you’ll eventually face considerably larger costs – so you may want to start preparing soon.
College is costly. For the 2015-16 school year, the average expense (including tuition, fees room and board) was nearly $20,000 at a public, four-year school, and more than twice that amount at a four-year private school, according to the College Board. Of course, cheaper alternatives are available – your children could go to a local community college for two years at a very reasonable cost, and then transfer to a four-year school.
Still, if your child does go on to get a bachelor's degree, those big bills will eventually arrive. As you consider how you can best deal with these costs, ask yourself these questions: