Many students heading off to college are experiencing sticker shock. Tuition is up an average 15 percent at many institutions, with some schools climbing as high as 40 percent.
The rising figures have financial experts urging students to become better consumers in pursuing their degree.
Student Christopher Wells is heeding the warning. The Old Dominion University junior is on a mission to earn his philosophy degree debt free.
The 20-year-old spoke with CBN News about the tough decisions he has made to save money.
"My first year my mother had to take money out of her 401k plan to pay," Wells said.
"We had a deal and she said that she would pay the first year at school, but every year after that I would have to pay for it myself, or figure out a way to pay for it," he explained.
Wells works summers instead of chilling out. This year, he spent 40 hours a week as an intern and waits tables on weekends for at least another 20 hours.
He wanted to run track but opted to attend a school that doesn't have a track team because it made more sense financially and academically. He also lives at home and commutes to class.
"I had the opportunity to live on campus. I could have taken out a loan. But I chose not to," Wells told CBN News. "And that was one of the biggest decisions for me."
It hasn't been easy for the aspiring actor, model, and college professor. But Wells is an honor student on track to graduate next year with no student loan debt.
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SOURCE: CBN News