Saving Smarter for College

But thinking a little bit, I'm sure we're not the only families that are thinking a lot about the expense of higher education.

And specifically, is it ever going to become more affordable or are we just set for price increases until eternity?

I wish I could tell you that I thought it was going to become more affordable.

It actually is the greatest cost that a family deals with day in and day out.

I mean, the inflation on tuition is tremendous.

So it's anywhere between 5% and 7% a year.

Again, I wish I could tell you that I think it's going to happen.

You would think at some point it would, but we have not seen it.

We just haven't.

And there's a couple things that are making it – Probable that it won't.

One is just the demographics.

Right.

There's just less people that are that college age.

Right.

So there's going to be less children going to college.

not because they don't want to.

It's just we have less people that age.

So that's number one.

These institutions still need to figure out, how am I going to generate revenue? Now there's less students applying and going.

And then the international student factor comes into play, too, because international students, when they come over, they don't get federal aid.

So they're paying the full boat, right? So they're helping us out as United States citizens, not necessarily have to.

So because they're losing some of those international students, that's impacting things too.

So what do you need to do? You need to raise costs.

Great.

Great.