Most Americans are feeling a major pinch in their wallets—from the price of eggs to high home prices—and the bottom line comes into sharper view for families with children who want to go to college.The average cost of college in the United States is $38,270 per student per year, including tuition, fees, books, supplies, and room and board, according to the Education Data Initiative.That’s $153,080 over four years.And to take home that eye-watering amount of money after taxes, the person paying for college must earn roughly $190,996 before Uncle Sam and the state get their cut, assuming a combined federal and state tax rate of about 19.9%.But parents don’t need to start taking on extra jobs and socking away every single penny to put their kids through college.
Currently, 15 states offer free college tuition—for anywhere from two to four years—with no income requirements.When my son Holden graduated from high school in 2019, I heard about a program called California Promise, which provided free tuition at participating California community colleges for two years.I encouraged him to apply, and he went on to earn an associate degree at Pasadena City College for free and then went to a university out of state to get his bachelor’s degree.His college education was essentially half-price, so I saved a bundle.And it turns out California isn’t the only state that offers this perk.The small town of Wheelock, VT—population 768—made history as the first to offer free tuition.
Since 1830, qualified applicants from the town have been eligible for a free Dartmouth education, a legacy from when the college owned the town.Fast-forward to the Campaign for Free College Tuition, which was established in the state of Washington in 2014.This bipartisan organization advocates for tuition-free education nationwide.By 2015, Tennessee introduced the first state-level free tuition program.
Today, 32 states offer similar programs, with 20% of U.S.community college...