It’s graduation season, and New Jersey is soon to see thousands of students celebrating their achievements in their caps and gowns. But saving up to take on higher education can present a tough challenge.

The price of attending college is up 7% year over year in the past two decades.

Allison Schmid is set to return to college next fall at Georgia Southern, after having spent nearly six figures already — and she still has another $40,000 to go.

“So I've worked through high school and I've continued to work through college,” she says. “I go to school out of state … out of state rate, about $18,000 a semester."

In-state, students are paying around $28,000 for tuition, room and board at Rutgers. At Seton Hall, a private institution, tuition, room and board is more than $52,000 a year.

Elaria Ibrahim goes to Rutgers and works two jobs, which is taking its toll.

“I think having to work on the side to be able to financially afford college while also being a student is the hardest thing, not only for me but for other students too,” says Ibrahim.

Financial advisor Lenny Thor suggests opening up a 529 college savings plan and to pay into that plan as early into their lives as possible.

"You can use it for college you can use it for grad school,” says Thor. “You can transfer it to other family members if you need to."

For parents, many want to help their children for college, but they don’t want to jeopardize their retirement either. Thor says college will negotiate their rates, so it’s worth it to get in touch to see if they’ll cut you a break or do more to help.

Students should be sure to apply for scholarships and financial aid, and can find a work study job on-campus or work as a resident assistant.