Student loan debt in America is nearing $1 trillion, according to FinAid.org, and bankruptcy lawyers warn that it could become "the next debt bomb for the U.S. economy." And unlike credit card debt, the sums owed for student loans cannot, by and large, be discharged in bankruptcy court.
In the past year, the average cost of public colleges universities rose 6%, and private colleges rose 4%.
Given all that, there's no question that parents and soon-to-matriculate students should be paying even greater attention to the Princeton Review's annual list of the best 150 colleges by value. Watch Princeton Review Senior Vice President Rob Franek (lead author of The Best Value Colleges, 2012 Edition,) discuss the schools that made it to the top of the list, as well as share his tips on filling out the all-important Free Application for Federal Student Aid form, which Secretary of Education Arne Duncan has facetiously said you need a Ph.D. to understand.
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