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If you had any question about how frequently colleges discount their tuition, there is a recent New York Times article that shows the practice is growing with certain colleges: When Colleges Dangle Money to Lure Students Who Ignored Them.

More than a few families I meet with ask the question: “How did we get into this situation?” They are dual-income families making solid salaries, but have significant debt and are barely able to keep their financial house in order. And as their oldest child starts planning for college, they have no idea how they can afford it. 

Regretting your choice of college major is not an uncommon story. Most of us regret several decisions we made in our late teens and early twenties (although they make for funny stories sometimes!) and making a big life decision like career preparation is a big ask.  

No parents want their children to be burdened with a lot of college debt. And the media reports of students graduating with $100,000+ in debt are scary. However, they are not accurate, at least for undergraduates. Undergraduate students can only directly take on a maximum of $27,000 in debt ($31,000 if they take a fifth year of college).