High school graduates as well as parents see college as a "must have" to get a carreer-worthy job after graduation. As you know, paying for college is a huge expense. With the cost of higher education rising faster than inflation, the parents of 4 year olds could face college bills in excess of $200k per year! It ranks up there with paying for retirement or your home. Depending on your family situation, it can arguably be the biggest expense you will ever face.