Getting through college these days almost requires a degree in thrift

By Michelle Singletary
Thursday, October 22, 2009

The College Board recently issued its annual report on the price of getting a college education.

For as long as I can recall, the trend has been troubling. The cost to attend college keeps going up -- often faster than inflation. And the amount of loans taken out to pay for tuition, fees, books, and room and board continues to rise.

This year it was more of the same. The published prices at private four-year colleges in the U.S. rose by an average of 4.4 percent. Tuition increased by an average of 6.5 percent for in-state students at four-year public colleges.

With the economy making it tougher for people to save, is there anything students and parents can do to keep college costs down?

I think there is, but it will require a shift in what we've come to believe is central to the college experience -- staying away from home for four years.

Let's take a look at the national averages for published tuition and fees for 2009-2010:

-- For in-state students at public four-year colleges and universities, $7,020.

-- For out-of-state students at public four-year colleges and universities, $18,548.

-- For all students at private four-year colleges and universities, $26,273.

Keep in mind that those are figures just for tuition and fees. Add the cost for room and board:

-- For in-state and out-of-state students at public four-year colleges and universities, $8,193.

-- For all students at private four-year colleges and universities, $9,363.

Maybe it's time students stayed home to study.

As the College Board report points out, all students, whether they live in campus housing or not, must buy books and supplies. But thousands of students could significantly reduce the expense of attending college if they lived at home or with a relative or friend who would cut them a break by charging no rent or a minimal amount for room and board.

If money is tight and your college savings are low or nonexistent, then perhaps having your student live on or near campus or away from home isn't an option. Take room and board off the table and college becomes more affordable.

For example, students from the lowest-income families on average are getting enough free money to at least cover tuition and fees. Aid to these students covered the total cost of tuition and fees at public two-year colleges from 1992-1993 through 2007-2008 and at public four-year colleges and universities from 1999-2000 through 2007-2008, the last year for which data are available, according to the College Board report.

My husband and I paid for a niece to go to college, covering the cost of her tuition, fees and on-campus housing during her freshman year. But her second year she moved back home. By then her parents were able to afford her tuition and fees. My niece didn't have any less of an experience commuting. She'll get her degree next spring without having borrowed a penny to attend school.

There's another way to save -- graduating in four years or less.

The Education Department's National Center for Education Statistics tracked the progress of first-time students seeking a bachelor's degree or its equivalent and attending a four-year institution full time. It found that only 36 percent of students graduated from college within four years. About 57 percent completed their coursework within six years, at the institution where they began their studies.

Going into overtime in college means more money. A fifth year boosts the total cost of college by about 25 percent. Conversely, aiming to finish college in three years would cut expenses significantly.

Understandably, it takes longer for some people to finish college because they are working part time. But others increase the cost unnecessarily.

For example, switching schools frequently adds to the expense of attending college. It's a decision that should not be made lightly. If students aren't careful about transferring to another institution, they could lose credit hours, wasting the money spent to take those courses.

I know many parents loathe the idea of limiting their child's college choices and don't protest as hard as they should when students switch schools or majors. But if those decisions come with decades of debt, maybe some tough limits are in order.

And students need to do their part. Your parents give their hard-earned dollars lovingly or put themselves in debt because they want you to succeed. Show them that you appreciate their sacrifice by making more affordable college choices, working hard while in school and graduating on time or ahead of schedule.

Readers can write to Michelle Singletary at The Washington Post, 1150 15th St. NW, Washington, D.C. 20071.

Comments and questions are welcome, but because of the volume of mail, personal responses are not always possible. Please note that comments or questions may be used in a future column, with the writer's name, unless a specific request to do otherwise is indicated.