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College costs can sink parents, too

Student debt is often associated with young people taking out loans and putting off rites of passage after graduation to repay them. But mom and dad often sacrifice more.

Beth Greulich, financial adviser at Abacus Wealth Partners, has seen parents' joy at having their child accepted to Brown University or the University of Southern California quickly turn to anxiety.

"Our child is in ecstasy, but where is the money going to come from?" Ms. Greulich said, recounting

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