When Stephanie Thomas went to college more than 25 years ago, she relied on some financial help from her parents, student loans and a part-time job as a gymnastics coach to cover most of the tab. Even so, by graduation she had amassed about $20,000 in student loans — “good debt” she was manageably able to pay off over the years on an income-based repayment plan.
But when it came to her daughters’ education, Thomas, now 49 and a certified financial planner in Raleigh, North Carolina, knew her family would need to work harder to limit student debt and boost the return on investment for a college degree. She and her husband saved diligently in 529 college savings plans and, as their daughters approached college age, looked for other ways…