Price of education is likely debt

Elisha McKinney, with her daughter, Lacee, 7, at their home in Vernon, Ala., recently took out her first student loan. Community colleges pride themselves on being the best bargains in higher education, yet affordability remains a barrier for many low- and moderate-income students. Tuition, though it's rising faster than inflation, isn't the main culprit. At $2,361, last year's average community college cost was just 38% of what public four-year universities charged, says the non-profit College Board, which tracks annual tuition increases. Bigger factors: • Costs related to going to college. The College Board says the average budget for community college undergraduates last year was $13,126, and more than 80% went toward transportation, books and supplies, room and board and other expenses such as child care. • Financial aid... [read full story]