According to The Princeton Review’s new “College Hopes and Worries” survey, for the fifth year in a row, students and parents are most concerned about one thing.
'The biggest worry is debt, ’ Rob Franek, The Princeton Review’s Editor-In-Chief tells CNBC in an interview. ‘The amount of debt that students and parents are likely going to incur to pay for college.’
Franek says college costs have risen two to three times faster than the rate of inflation every year, consecutively for the last twenty. ’
For the 2017-2018 year, the average cost of a private university is $34,699 for tuition and fees, according to U.S. News. Public schools cost $21,632 for out-of-state students, $9,528 for state residents.
‘It’s heart-stoppingly expensive and it causes so much fear for students and parents,’ Franek said." …