6 reasons why college is expensive

"For a student who enters a four-year college, average graduation time is five and a half years," says Gwyeth Smith, owner and president of College Quest, an educational consulting firm in Oakdale, N.Y.

Research from the National Center for Higher Education Management Systems, a nonprofit education think tank in Boulder, Colo., reveals that the average four-year college only graduates 55.5 percent of its students within six years.

If a student is forced to stay at school longer than four years because he or she can't get the proper classes in time, Smith recommends approaching the financial aid office, mentioning his or her stellar academic track record (if applicable) and asking for additional funding. Students may be able to sidestep the problem by charting their educational curriculum with an adviser during their freshman year and taking more than the minimal number of courses each semester.