My husband and I paid for a niece to go to college, covering the cost of her tuition, fees and on-campus housing during her freshman year. But her second year she moved back home. By then her parents were able to afford her tuition and fees. My niece didn't have any less of an experience commuting. She'll get her degree next spring without having borrowed a penny to attend school.

There's another way to save -- graduating in four years or less.

The U.S. Department of Education's National Center for Education Statistics tracked the progress of first-time students seeking a bachelor's degree or its equivalent and attending a four-year institution full time. It found that only 36 percent of students graduate from college within four years. About 57 percent completed their course work within six years, at the institution where they began their studies.

Going into overtime in college means more money. A fifth year boosts the total cost of college by about 25 percent. Conversely, what if students aimed to finish college in three years? That too would cut expenses significantly.

Understandably, it takes longer for some people to finish college because they are working part time. But others increase the cost unnecessarily.

For example, switching schools frequently adds to the expense of attending college. It's a decision that should not be made lightly. If students aren't careful about transferring to another institution, they could lose credit hours, wasting the money spent to take those courses.

I know many parents loathe the idea of limiting their child's college choices and don't protest as hard as they should when students switch schools or majors. But if those decisions come with decades of debt, maybe some tough limits are in order.

And students need to do their part. Your parents give their hard-earned dollars lovingly or put themselves in debt because they want you to succeed. Show them that you appreciate their sacrifice by making more affordable college choices, working hard while in school and graduating on time or early.