By Colleen Rothe

I recently went back to college, seeking to complete a graduates program. Although my time in the service is footing a majority of the bill, it’s not without its sacrifices both in regards to my finances or the support of my family.

It’s been a huge wake up call for our family that a college education is not cheap. We’ve done some investing over the years, but it’s hardly enough to help our children who are hopefully college bound – the first to head there in a scant five years.

Public education at the college level, including room and board, is averaging about $30,000 a year. That’s up considerably even over the past five years. So when my 13-year-old heads off, what will be the cost? Experts say it could be up to 30 percent higher.

With nearly 10 percent of our population out of work and little relief in sight, the need for a college education or journey-man level trade is critical to the security of our children’s future.

But there are ways to cut the costs.

1. Think Local: This philosophy isn’t just about buying groceries; it’s also about choosing a school. Out of state rates, although going the way side at some institutions, can nearly double your cost.

2. CC-bound: Consider going to a community college for the first two years. Most partner with larger universities to transfer students in after receiving the equivalent of an Associates degree, to complete their Bachelors program. Community colleges are typically one-third to two-thirds less than the big state universities.

3. Start Saving Now: Even if it’s only $20 a pay period, do it. Many colleges have payment plans and loans for partial education costs are easier to come by if you have something to put down. Although if you’re expecting to have your first child, you might want to start budgeting no less than $150 a month to put into savings for each child towards college. And make it automatic. Don’t write a check; just have it deducted from your paycheck.

4. 529 It Up: Look into your state’s 529 program. Now. Open season for this year is passed in many states, but that doesn’t mean you can’t plan for next year. It’s a very solid choice for college savings and hard to beat. Ask any money manager; they’ll say the same. Also look into programs like U-promise.

5. Pay for Retirement: Make sure you put the max into your retirement contributions as well. While investments and savings might cover increasing costs, it won’t help with gas in junior’s car or trips home. If you’ve got a cushion at retirement, plus your college savings plan, you’ll breathe a little easier.

6. Talk it Up: The kids are going to have to understand that they are going to have to help, whether its with scholarships (academic or otherwise), student work programs, etc. If you start talking to them early about the cost, by the time they are a senior in high school, they’ll have a better concept and hopefully will have bought into their part in it.

Beyond those planning efforts, there’s always next week’s lottery. But that’s paramount only to doing nothing at all.

How are you paying for your own or your children’s college education?