(BPT) - The second half of summer brings a welcomed sense of familiarity for families across the country as back-to-school season approaches, and enthusiasm is particularly strong after more than a year of uncertainty upended the education system as we know it. While a widespread return-to-campus is a particularly exciting time at the college level, some families may also feel a sense of apprehension, especially in the wake of COVID-19.
In fact, affordability and dealing with the debt burden that often goes hand-in-hand with a degree is the top concern of both parents and students, according to the Princeton Review’s 2021 College Hopes & Worries survey. With many parents trying to balance daily expenses, savings progress and the cost of college simultaneously, supporting four years of higher education can be a struggle. Some may even be prioritizing college payments over their retirement contributions (not usually recommended by financial advisors), or other investments.