She made college ‘good debt’ for herself. Can she do the same for her daughter?
A generation ago, it was more common to put yourself through school. For reasons including rising education costs, It's a feat that's now far less manageable.
Key points
- Stephanie Thomas, a 49-year-old financial planner in Raleigh, North Carolina, is using dual enrollment to cut college costs for her daughter Ainsley.
- Ainsley, 16, will earn a two-year associate's degree and enough credits to enter a four-year institution as a junior, aiming to halve the cost of her bachelor's degree.
- Dual enrollment jumped 9.6% from the previous year, according to the spring 2026 report from the National Student Clearinghouse Research Center.
Stephanie Thomas, 49, a certified financial planner in Raleigh, North Carolina, took on about $20,000 in student loans for her own college education more than 25 years ago. She paid it off over the years on an income-based repayment plan. For her daughters, she and her husband saved in 529 college savings plans and sought other ways to cut costs.
Their youngest daughter, Ainsley, 16, is taking college-level coursework in high school through dual enrollment. By the time she receives her diploma, she will also have a two-year associate's degree and enough credits to start a four-year institution as a junior.
Rising Costs and Debt
Between 1995 and 2025, average tuition and fees rose 74% at private four-year institutions and 101% at public four-year colleges, after adjusting for inflation, according to the College Board. For the 2025-26 academic year, room and board, tuition, and fees reached $25,850 at in-state public four-year colleges and $45,780 for out-of-state students on average. At private four-year colleges, the annual cost is $60,920.
Nearly half of families borrow money to pay for college, according to Sallie Mae's How America Pays for College report, pushing outstanding student debt to $1.85 trillion. As of June 30, about 9.3 million federal student loan borrowers were in default, up from around 6.2 million at the same time in 2016, according to Education Department data.
We're trying to be strategic about reducing the overall cost. With the rising cost of higher education, finding creative ways to cut expenses feels much more practical.
— Stephanie Thomas
Job Market Uncertainty
The future of early-career employment is increasingly ambiguous, largely due to the rapid rise of artificial intelligence, according to the National Association of Colleges and Employers. Postings for entry-level positions in the U.S. sank 35% since January 2023, labor research firm Revelio Labs found. Jobs in technology and software development are under pressure, while home health and nursing roles are more insulated, according to a separate report by Indeed.
Enrollments in undergraduate certificate and associate degree programs both grew by about 2% last year, while enrollment in bachelor's degree programs rose by less than 1%, the National Student Clearinghouse Research Center found. Community colleges now enroll 752,000 students in undergraduate certificate programs, a 28% jump from four years ago.
