Paying for Higher Education Doesn't Have to Break the Bank

The cost of college continues to go up, but with the right tools, it doesn't have to break the bank. Time Warner Cable News reporter Amara Omeokwe has more on what families can do to make sure they can afford the right education.

Figures from the College Board show big jumps in average tuition and fees over the past 30 years -- nearly 150 percent for private four-year institutions and 225 percent for in-state students at four-year public schools.

Tips and Advice:

• Families should start saving as soon as possible. Opening a 529 college savings account is one way
• Pick the right school. In some cases, a community college or technical school may be a better (and cheaper) option than a four-year institution
• Students should fill out the free application for federal student aid - or FAFSA. The form helps families figure out what financial aid they're eligible for, including grants.
• Taking out student loans should be a last resort