A four year degree will cost $205,000 in 2030 - will you be able to send your kid off to college?

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Assuming a standard 10-year loan and an annual interest rate of 6.8 percent, your child should borrow up to $40,850. This leaves a large gap between student borrowing and the $205,000 needed to complete a four-year degree.

Parents foot about 45 percent of total college cost through savings and borrowing. However, even at 45 percent, the cost of financial independence for your child will cost you $2,250..