What will college cost? It’s still confusing

Net price calculators  – now required on nearly all college web sites — let future students enter their personal information and get an estimate on the true cost of a specific college, including financial aid, not just the “sticker price.” But the calculators are difficult to find, use, and compare.

Not surprisingly, people who borrowed heavily for college now say they didn’t understand what they were getting into.

Parents can borrow unlimited amounts through federal Parent Plus loans, regardless of their ability to repay the loans. Not surprisingly, an increasing number of parents face garnished wages (and Social Security checks) and ruined credit.

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