Climbing college-related costs putting strain on Americans’ wallets

The economic downturn has left a number of Americans scrambling to keep their jobs and save as much money as possible.

Not only have food and gas prices surged during the past few months, but the cost to go to college has also increased, CNN Money reports. As a result, a number of parents may need to create smart and detailed budgets and get their bad credit in order.

Parents who are unable to get the credit score help they need may find that they are unable to keep pace with the climbing costs of tuition and college-related fees.

Mark Kantrowitz, the publisher of FinAid.org and FastWeb.com, says that as the out-of-pocket costs for a college education increase at a rate faster than personal income, many low and medium income parents may no longer be able to afford sending their kids to a university.

Because credit scores play a vital role in securing private loans with affordable rates, it's important for parents to take appropriate measures to improve their three-digit numbers.

One way some individuals may be able to bump up their scores is by reviewing their credit reports for inaccuracies or non-compliant information. With the help of a credit lawyer, parents may more effectively spot problematic or questionable items that, if removed, could provide them with a quick credit fix.