CT flunks college affordability test

New Haven (WTNH) - It is getting more and more expensive to send your kid to college and a new report from the National Center for Public Policy and Higher Educations gives Connecticut an "F" when it comes to affordability.

These days, most kids need a college education to succeed in life. But how do you pay for it?

"My parents are co-signers on my loan," said Jacqueline Murray, Class of 2010 at Albertus Magnus College.

"It balances out somewhat, school gives grants so it works out," said Malden Curakovic, Class of 2010.

Most families can barely manage the heavy burden of college costs. Add to that a newly released report card showing Connecticut fails when it comes to offering affordable higher education options. The report card dug into how much money families spend each year on higher education. Nationally, family's spend 28-percent of their yearly income on higher education. In Connecticut 29-percent, New York 27-percent and Massachusetts 32-percent.

"It's a quandary for colleges and parents," said Richard Lolatte, Albertus Magnus College.

The dean of admissions and financial aid says because of the economic issues facing our country colleges and university's are now becoming direct lending institutions.

"However, we don't know how much money will be available or the platform for qualifications. Everything is in flux," Lolatte said.

Lolatte suggests that kids apply for assistance as soon as possible.

For more information, please visit www.ctdhe.org/