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America's biggest money mistakes

Worried college student

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Dropping out of college

With college getting increasingly more expensive, education is one of the biggest investments a young adult can make, and while most agree it is worthwhile, it doesn't always pay off.

During and since the recession, tuition has skyrocketed. At public four-year schools, the cost for the 2014-15 school year rose sharply to $18,943 from the $11,635 price tag in 2000-2001, according to the College Board. Tuition plus room and board at four-year private universities was even higher: $42,419 on average.

Even those who graduate often do so with a hefty amount of debt. On average, student borrowers who graduated this year owe more than $35,051, according to Mark Kantrowitz, a student financial aid policy expert and publisher of And for those that don't finish with a degree, 21 percent said it was their greatest money mistake, according to Finder's report.

"Going to a really expensive school for a degree that leads you to a job that won't pay off those loans sets you up for trouble down the road," said Mike Salmon, a financial advisor at Moisand Fitzgerald Tamayo in Orlando, Florida.

Salmon advises clients to consider all of the options for continuing education, including two-year programs, community college and trade schools. "It's about being wise about taking on that debt," he said.

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