I wrote a column on this subject a couple of years ago, but I thought I’d revisit it because two new stories came out this week that are worth reading.

One is from my colleague Jackie Crosby, who profiled a young couple drowning in student loan debt.

The next is a story from the Chicago Tribune that suggests factoring in after-college earnings when deciding whether to head to a specific college, or any campus for that matter.

I’m sure you’ve seen the stats about how college grads make a lot more money in their lifetime than workers without a degree, but given the fast-rising cost of higher education, stagnating wages, and a tight credit market that’s making it tough for some to qualify for enough student loans to make it through, it begs the question.

When I recently shared my concerns with my husband about paying for college (we save a whopping $100 per month for our two small kids in a 529 plan), he said that he thinks something will give by the time our kids attend school. Either college inflation will be put in its place or some reforms will be made so middle class families like us will be able to send kids to college without mortgaging the house (c’mon, credit will have eased up by then I figure), making major sacrifices, or sending our kids into the world with six figures in college debt.

If not, he figures we’ll have swung to a point on the pendulum where college has become so expensive that enrollment numbers plummet. That’s hard for me to believe, but who knows?

What do you think? Is college always worth the cost? Anyone’s college plans been affected by the current economy, the credit crunch, or the recent stock market dive?

This entry was posted on Tuesday, October 14th, 2008 at 5:51 pm and is filed under college saving. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.