» more from Life Changes

Fun with college funding

College admissions season is under way, so it won't be long before today's coddled high school seniors become tomorrow's impoverished university undergraduates.

With the cost of college continuing to rise — more than $40,000 annually for private institutions and average student loan debt at graduation now nearing $30,000 — four years of experimentation, excitement and all-night study sessions may ultimately provide a financial nightmare to go along with the diploma.

There's financial aid, various grants and, of course, plenty of student loans to be had. There are also state universities, community colleges and online programs to help lower the overall cost of higher education.

And then there are some out-of-the-box college-funding ideas. But be warned: Some of these ideas are extreme. Do not try them at home — at least, not without a sense of humor (mixed with fear about just how high your student loan debt burden could be in the future.)

By Roy Luo, Special to CNBC.com
Posted 4 April 2014

Image Source | Getty Images