Your high school senior doesn’t know this key fact about college, and it will cost you

Your high school senior has already committed to the college he or she will attend. Odds are your scholar has no idea how much it costs.

Recent research from Junior Achievement and Citizens Bank showed that more than 40 percent of senior-year students don’t know how much an average year of tuition at a four-year college or university costs.

The poll surveyed 500 juniors, 500 seniors and 500 college freshmen online in March.

“Undergraduates are coming in without a full understanding of what they’ve signed themselves up for,” said Brendan Coughlin, president of consumer lending and deposits at Citizens Bank.

“The decision-making process around college is still highly emotional,” he said. “Folks are skipping the hard conversations.”

Considering May 1 was National College Decision Day — the deadline by which 12th graders generally must determine where they’ll begin their higher education — it might be time to brush up on how much you’ll pay out of pocket.

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