R-JENERATION: Las Vegas High School Students Face Financial Challenges When Saving for Higher Education

Judy Hartnett's picture
Monday, January 30, 2012

Hitting the books has become as hard as the current economic situation.

For some families, saving money for their children's college tuitions has become an increasingly difficult challenge.

"My parents have had to completely empty my college account for other expenses," says Coronado High School junior Ben Call.

According to the National Center for Education Statistics, the average tuition for both public and private colleges in the United States in 2010 was $17,464. The average rate has increased by more than $10,000 from a base average of $3,101 in 1980.

To go to a private four-year college in 2010, a student would on average need $32,184. Based on these rates, when a child born in 2012 goes to college, that child will need almost $100,000 for college tuition.

Regardless of the high cost of a college education, some students say it is worth it.

"Without a college degree you will probably not get a very good job," says Foothill High School junior Aldo San Pedro. "With all the competition out there for even the minimum wage jobs, having the college diploma makes you a better candidate than the other guy without one."

Nonetheless, some students are shrugging off higher education as simply another unnecessary financial burden.

Read more