Investor mind-sets are starting to change when balancing saving for retirement versus saving for their kids' college education.
"It becomes increasingly possible the more you broaden ways to get college accomplished," said Kevin J. Meehan, certified financial planner and regional president of the Wealth Enhancement Group. "You don't have to spend $75,000 per year."
He suggests savers start determining return on investment on the child's vocational interests. For example, if the child is interested in teaching and all starting salaries are the same, is it worthwhile to go to an expensive school?