I recently heard that college loans are the biggest debt our nation has, even bigger than mortgage debt. And frankly, I think it is crazy that students pursue an education and leave with the burden of debt that follows them around for a couple of decades. I’m glad several politicians are looking to make public colleges free which makes so much sense. Most countries offer basic education (and yes, I consider college education basic!) free or at minimal cost. After all, they want to encourage an educated workforce! Luckily I did both my Bachelors and Masters in another country and had little to pay till I came to the US for my MBA. For more on how, I paid for that, read this. Now with 2 young kids, I am trying to figure out how we will pay the cost of college.
Cost of College
First I tried to estimate the cost of college at Scholarshare to send one of my kids for undergraduate degree when they turn 18. I used University of California Berkeley as a proxy. Hope you are sitting down. The estimated cost is a whopping $270,000!!!! For two kids, that would amount to $540,000 over four years!! Excluding room and board. 
Now I’m trying to hold down the panic that is threatening to rise and instead focus on researching how I will pay for college for both my kids so here goes….
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