First, the bad news. There's no escaping the fact that college costs keep rising, and rising fast. Increased college expenses continue their trend of outpacing the rate of inflation. From the College Board’s report, 2007 Trends in College Pricing:

• Average published tuition and fees for in-state students at public four-year colleges and universities in 2007-08 are $6,185, $381 (6.6 percent) higher than they were in 2006-07. Average total charges, including tuition and fees and room and board, are $13,589, 5.9 percent higher than a year earlier.
• Average published tuition and fees for out-of-state students at public four-year colleges and universities in 2007-08 are $16,640, $862 (5.5 percent) higher than they were in 2006-07. Average total charges are $24,044, 5.4 percent higher than a year earlier.
• Average published tuition and fees at private four-year colleges and universities in 2007-08 are $23,712, $1,404 (6.3 percent) higher than they were in 2006-07. Average total charges, including tuition and fees and room and board are $32,307, 5.9 percent higher than a year earlier.

Now, the good news. It’s worth it. According to a 2007 College Board study, Education Pays, people with a bachelor's degree earn over 60 percent more than those with only a high school diploma. Over a lifetime, the gap in earning potential between a high school diploma and a B.A. is more than $800,000. $800,000!!! In other words, whatever sacrifices you and your child make for his or her college education in the short term are more than repaid in the long term.

The Teen Masters believes in the power and importance of education. Our vision:

It’s the reason we’ve already awarded more than $600,000 in college scholarships to Teen Masters participants and dream of the day when our national champion receives funding for their entire college education!

Scholarships will be awarded at two levels in the 2008 Teen Masters. Every national finalist is guaranteed a minimum award of a $100 SMART scholarship and will compete for the title of Teen Masters National Champion which include minimum scholarships of $10,000! Additional scholarships will be awarded at each regional qualifier based on its number of participants with a scholarship ratio of 1 award for each 7 entries.