Fifteen colleges now cost more than $100,000 a year. A year ago, only two did. Before you panic, here’s the secret the schools don’t want you to know: very few students actually pay that number.

Today I break down the difference between a college’s sticker price and what families really pay, the free-tuition programs most people don’t know exist, and the group of families getting squeezed the hardest by the financial aid formula.

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