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May 31, 2012 9:55 AM Tuition, in 18 Years

By Daniel Luzer

Children born this year are likely to face astronomically high tuition once they get to college. According to a piece by Stephanie Landsman at CNBC:

In 18 years, the average sticker price for a private university could be as much as $130,428 a year (See chart.) The situation isn’t much better if you go the public route. Sending your child to a state university could set you back at least $41,228 a year.

That’s only the average, though. Sticker price at a private college might run an average $130,428 a year in 2029-30, but the average private now only costs $28,500 a year. Many prestigious private schools cost more than double that.

Just image how much George Washington University will set parents back in 2029. Better start saving.

Daniel Luzer is the news editor at Governing Magazine and former web editor of the Washington Monthly. Find him on Twitter: @Daniel_Luzer