hi, everyone, welcome to "on the money", i'm bill griffith. hi, everyone, welcome to "on the money", i'm bill griffith. in for becky quick this week. the high price of higher education. why does college cost so much now and what can be done about it? and is the system broken. let's see, kale instead of french fries, the rapidly expanding fast food restaurant chain that says it can be healthy, tasty and profitable, all at the same time. you remember this? now there's a new use for them, a car made by a 3-d printer. but is it really a good idea? >> if you're one of the millions yet to file taxes, you better get moving, we have tips on last minute mistakes you can avoid. it's "on the money" and it starts right now. this is "on the money," your

money, your life, your future. >> here's a look at what's making news as we head into a new week "on the money." if you don't own stocks you're not alone. a new survey by bankrate.com shows more than half of americans are not invested in the stock market in spite of the fact the markets are near record highs right now. 52% of those polled said they were not investing in stocks, that includes their i.r.a.s and 401(k)s. of those with no money in the market, 53% said they simply didn't have the cash. 21% said they didn't know enough about stocks and 9% said it was simply too risky. here's what those people missed this week. it was a choppy week for wall street with the dow showing modest gains waiting for earnings season to kick into high gear, although the nasdaq was stronger this week. stocks closed higher on friday. ge is getting rid of most of the banking business in a deal announced friday morning, it

said it will sell most of ge capital for about $26 billion. that sale will turn ge into a primarily industrial and manufacturing company. it turns out the death of facebook has been greatly exaggerated. a new study found 71% of teens age 13 to 17 are still using that social media website. instagram came in second at 52% and that is owned by facebook. snapchat ranked third. well, it's decision time for high school seniors once again and their parents. will they go to college? where will they go? how will they pay for the rising cost of higher education? janet napolitano has a unique view of that. she's of course the former homeland security secretary but now he's president of the university of california, overseeing a ten campus system with an annual budget of nearly $27 billion. she joins us today. madam president, good to see you, welcome back. >> thank you. >> as you know, the student debt

level out there now exceeds credit card debt, auto loans, it's second only to mortgage debt. the question people keep asking, what makes college so expensive these days, the price index for college tuition grew by nearly 80% between 2003 and '13, which is more than twice as fast as overall inflation right now. what's behind that? do you feel that students are getting their money's worth these days? >> well, i'm going to speak to this from my vantage point, which is leading the country's largest public research university. and the chief cause of the -- cost to students going up is the fact that public investments in our universities have gone down. so there are two major sources of revenue to operate quality institutions. the state appropriation and tuition. and when the state budgets keep going down, down, down, unfortunately tuition has had to go up. in california we approach this

in a somewhat different way. because we have a very robust financial aid system in california. so at the university of california, 55% of our undergraduates pay no tuition because they come from families that make less than $80,000 a year. as i mentioned, the key driver is that public investment from the states have gone down. >> any reason to believe that money is going to come back though? >> well, we hope. as state budgets are restored as moneys come back into the coffers, we're advocating in california that it's time to reinvest in the university of california and the cal state university system. california has the best system of higher education of any state in the country. i ought to know, i was the governor of another state. so i know the comparisons. and so for a state like california, based on innovation entrepreneurship and all of the things that make california such

a great place to be and such a great economic engine for the country, all pivot off of the higher education system that we have. >> the president has come up with an idea of making two years of community college free, much like elementary education and high school education is free these days. putting it under that public education dre la. what do you think of that idea? >> i like that idea. i like it for several reasons, one is that it creates the expectation that our students should go beyond high school and given the kind of world our young people are going to be graduating into, the more education they can get, the better off they are. now not all students want to go to a four-year university. but those that do will need that option even when -- and i third of our students do, even when they start at community college. >> online education, one of the solutions to bringing the cost down for some students around the country.

>> well, i think we need to be careful here. i think the original iterations of online, the so-called mooks, the massive online courses, didn't turn out to be particularly good at producing an educational outcome. students didn't complete the classes and they didn't learn what they needed to learn. and they were cheap to do but the results showed that they were too cheap. now, online has advanced a lot in the last ten years and we're doing lots of it in the university of california system. and we find it particularly useful in certain types of upper division classes, classes where you want students at one campus to get access to class in another campus. we find it also useful in the graduate student realm where students want to return to college, get something past the bachelor's degree. lots going on in the online world. however, and this is the caution i want to make, the kind of online we're talking

about now is not the kind of silver bullet to cost that the moocs were, because to do a quality online course takes a lot of time and investment by the university. time by a professor to really prepare something that's an online experience, that's a good experience for the student. >> right. >> and online that keeps changing with, you know, the changing of the course material, and that's personalized to the student. but, i do believe that in the coming decades, we'll see more and more online. i just don't believe it will be the kind of cost changer, bending of the cost curve that some predicted. >> understood. janet napolitano, now president of the university of california joining us today. thank you, and good to see you again. >> thank you. >> up next, we're "on the money," quick and healthy is the name of the game when it comes to fast food? really? a canadian franchise is turning old model on its head thanks to

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so can this so can this millennial really kill mcdonald's? matthew corrin started his fast food franchise freshii ten years ago at the tender age of 23. his chain focuses on serving fresh locally sourced food and it's growing by leaps and bounds. there are currently 160 freshiis

in 13 countries and a lot more to come. what does the growth signal for the fast food competitors. matthew joins us right now. thanks for being with us today. >> thank you for having me. >> a couple of things, fast food, you don't consider yours fast food per se. i mentioned mcdonald's but you're going after subway, aren't you? >> i'd say we're going after anybody who is trying to serve food. there's stomach share competition all over. >> stomach share competition is that what you said? >> yeah. you can only eat so many meals a day. before we showed up, our guests found a place to eat breakfast and lunch and dinner and snacks. >> what are you doing to be different? >> we focus clearly on healthy and fresh and customizable food which plays to millennials. but the two biggest barriers to eating healthy. one, it's not convenient. the path of least resistance is usually a slice of pizza or a burger. and two, it's not affordable. historically to eat healthy. right? whole foods was the expensive, healthy option.

what we focused on, how to make healthy affordable and convenient. that seems to be resonating with our guests. >> you have 160 stores. i mentioned. i was reading is this true you want to add 120 this year alone? >> we will open over 100 restaurants this year. >> do you worry about growing too quickly? >> i think with our business model which is franchising where you truly, it's an entrepreneurial spirit of partners around the world dividing and conquering concurrently, it allows that type of scale. >> who do you franchise to? you're particular about that, right? >> what's interesting is, i mean freshii is at the intersection of two very interesting trends. health and wellness which we know is very relevant. but equally relevant the entrepreneurial spirit. my generation, the millennial generation, are actually being encouraged by their parents, they're being encouraged by "shark tank" and websites like kick-starter to go and be entrepreneurial. go take a leap. your generation was encouraged to go to wall street and be lawyers and doctors. my father is a dentist. my generation is actually being

encouraged and being supported to take a pren you'real leap. >> and your franchises relatively speaking are inexpensive, $250,000, right? >> it is, very comparable to what it costs to get into subway. that's why a lot of subway partners are joining the freshii system. >> locally produced, you want to be fresh. but as you mentioned whole foods, that can be expensive. usually that's what that means to go fresh, means expensive, but you feel like you don't have to be that expensive. how do you do that? >> today we lead with healthy fresh and customization, not necessarily organic and local. however, depending on the time of year it's actually more cost effective to source locally. you can't source locally in toronto in the dead of winter but in the summer that's the most cost effective way to do so. we can bring local produce in for half of the year at a price point that allows us to maintain an aggressively low check average for our guest. >> for me it's interesting, you're what 33 now, i guess? >> i am. >> freshii is ten years old and

you started this when you were a young p.r. executive with oscar de la renta. you had no experience in the restaurant business when you opened your first freshii store. how did all that happen? >> the first day we opened was literally the first day i worked in the restaurant business. in our first month and i'm not exaggerating, we were robbed twice by employees and i had to two kitchen managers slice their thumbs off. carried by ambulance by stretcher to the ambulance at 6:30 in the morning. and very terrible food review and customer who was threatening to extort us because she found a little bug in her salad. >> you were off to a good start. >> it was a great start. i did what any entrepreneur would do, i opened a second location. two grew into four, four grew into ten, which is now 160 stores in 13 countries. >> if you had to do it again, would you open a restaurant chain? >> that's a tough question. i will say this. this will be the only thing i ever do. it will be the only restaurant i ever do. but it will also be the only company i ever do.

i love what i do and think there's tremendous opportunity ahead of us for the freshii brand. >> well it's a great story. matthew korrin, the founder of freshii joining us today. thanks for joining us. >> you bet. >> when we come back, we're "on the money." why have a factory when all you really need is a printer? that's right, 3-d printed cars will soon hit the market. will this idea ignite the auto industry or get stuck in neutral. we'll find out coming up. and later, millions of americans still yet to file their tax returns. if you're one of them, we have tips on last minute mistakes you can avoid.

i love this story, the auto i love this story, the auto industry is racing towards a new future in the form of 3-d printing. can you imagine picking out your dream car and it being made right in front of you? that's what phoenix based company local motors is promising drivers, their cars are cheaper and safer and techier than your average automobile. here to explain is local motor ceo jay rogers. joining us today. good to see you, jay, thanks for joining us. >> thanks so much for having me. >> from what i hear, you surprised everybody at the detroit auto show and made a car on site while everybody watched there. explain the process. very briefly. >> sure we actually made three of them on site. we wanted to make the point of you can put it into production and the process is three stages. we do an additive manufacturing stage which is the 3-d printing part of it.

and then we have a subtractive manufacturing stage, that comes where it mills material off. and then the third part is rapid assembly of components to complete the vehicle and drive it away. >> i'm blown away by the whole concept here and you say it's cheaper. how much am i going to pay for this car, for example? >> it's a little early for us to say how much cheaper it's going to be given the feature sets, people are very comparative or competitive shoppers in cars. but i think what our concept has been that the total cost of ownership of a car, including amortized development cost, service cost, other things like that is going to be cheaper over time. the price tag on a car like this could range from $18,000 up to $100,000, depending upon what features you put in. the way in which we make it, no tooling cost, the ability to recycle the vehicle on site, reduces the total cost of ownership in a way we never had in automotive before. >> you have said you don't think elon musk is all that innovative over a tesla.

they have innovated not in the cars themselves but in how they are run. the electric cars, and the battery power, and all that. what runs your cars? >> so i think the real question in vehicles is not the power train but how you make the vehicles. that's where my comments have come before. i see power train as becoming just a part of the car but the way in which we make a car, we've really defined back when henry ford and daimler were starting at the turn of the century, the last century, and tesla's not doing it any different. they're super forming or hydraforming aluminum. they've bought big tools. they have a big factory for making these things work and they've put a lot of money behind each model of car. it's not flexible. it's not fast. i think the innovations we're driving at is changing the way we manufacture a car. >> who do you think will want to buy a 3-d printed car? who is your target audience? >> that is a super question. the way i think about it, no one

says -- your guess will be as good as mine. no one says hey do you want to buy a metal car today? i think 3-d printing will fade into the background over the next five years. ness a technology company that designs builds and sells cars. we picked a method that 3-d printing as part of it. the real truth is who wants to buy an autonomous car. who wants to buy a car that's drive by wire. or buy a car that has all of the preferences embedded and hardware reconfigurable to be more comfortable or safe? those are features people buy. the 3-d printing in the next one or two years is something people will say, that's cool and novel, i want to be part of it. but in the end, cars have to keep us safe and do what we ask them to do. those features are what matter. being able to make cars quickly is what allows us to change features quickly and that's what's going to win with the customer in the end. >> all i can say is very cool. can't wait to see how this works. jay rogers, continued success.

thank you. appreciate it. >> thanks so much. thank you. up next "on the money" a look at the news for the week ahead. and that tax clock is ticking. what to do if you haven't filed yet and how to make sure you're in better shape for next year as well. only famous. and older. and gorgeous. and not like ours at all. have you touched the stuff?. it's evil. and ladders... awwwwwww!!!!! they have all those warnings on them. might as well say, "you're going to die, jeff". you hired someone to clean the gutters? not just someone. someone from angie's list. but we're not members. we don't have to be to use their new snapfix feature. angie's list helped me find a highly rated service provider to do the work at a fair price. come see what the new angie's list can do for you.

for more on our show and our for more on our show and our guests go to our website, otm.cnbc.com or follow us on twitter. the handle is @onthemoney.

here are stories that may impact your money this week. earnings season gets going with reports from wells fargo, j.p. morgan chase and bank of america. on tuesday retail sales for march are due. always important because the consumer makes up 70% of the u.s. economy. wednesday marks two years since the boston marathon bombing. wednesday is also the deadline for taxpayers to submit their returns. we'll talk about that in a moment. thursday, we'll get new home construction figures for march. and friday, we'll see about inflation when the consumer price index is released. speaking of the irs, they have processed about 100 million returns so far this year but that's about two-thirds of the total tax returns the agency expects to receive. if you're one of the millions of americans who is not part of that group, you have yet to file, fear not, we have some tips for you. joining us now is personal finance correspondent sharon epperson to talk about your money, your future and your tax return.

have you filed yet? >> no, i have not yet filed but i will by april 15th. >> what are mistakes you want to avoid that typically happen for those last-minute filers. >> the mistake you you make waiting until the last hour, you often have common mistakes just the way that you enter the information. so that's one thing to do. but you also don't want to leave money on the table. some of the simple things you think you should do maybe you don't have to. itemizing your deductions most people think she should do that but there are some who don't really have enough in terms of itemized deductions for it to make sense and the standard deduction may be guest. the other thing people do, take the state refund and claim that as taxable income on your return. if you didn't take a state deduction, if you took say a sales tax deduction instead you don't need to necessarily do that. the other thing, they overlook the carry forwards and that's important if you had investment losses and want to carry over losses into this tax year, you can do that. you want to make sure you do. if you don't meet the april 15th deadline, i will, but if you don't, then you file an extension. make sure you file an extension.

that gives you another six months until you have to file the return. >> this is a classic dilemma, what if you owe and you don't have the money right now? >> first thing you need to do, file for an extension. make sure that if you owe money that you know that it's not an extension to pay. that extension is just to file the tax return. you want to make sure that you try to pay, if you can, pay something. make an estimate of what you're going to owe. can you do that by phone, by check, online. if you can't really afford to pay in full right now, you can set up an installment plan with the irs. it costs a little bit to set it up but you can go to irs.gov and figure out how to do that. >> you're not alone in that? >> no. exactly. a lot of people can't afford it and there will be penalties if you're not able to pay in full but it's better to pay something and to set up the plan and let the irs know you're having problems so you can try to set up some type of program. >> we're talking about april 15th but hey it's never too soon to start thinking about next year. >> now is the time, you either got a refund or you may have to owe. maybe you came almost to a break even mark. that's a good thing. if you didn't, you need to

adjust your with withholding and get a w-4 form, figure out what you claim to allowances and make sure you pretty much do break even. you don't want uncle sam to hold your money. you don't want to owe the irs either. >> do the math ahead of time. >> exactly. >> personal finance correspondent sharon epperson. always good to see you. >> my pleasure. >> thanks so much for joining us this week. that's the show for today. i'm bill grift it some thanks so much for joining us this week. next week is your cyber information floating out there for anyone to find? becky will be back with one men who runs cybersecurity fire-eye and he has some scary answers. each week keep it here. we are "on the money." have a great weekend, everybody. boy: once upon a time, there was a nice house that lived with a family. one day, it started to rain and rain. water got inside and ruined everybody's everythings. the house thought she let the family down. but the family just didn't think a flood could ever happen.

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[ engine revving ] >> this is a big business, taking away from you and me. >> they're more sophisticated. they're not the old, traditional peel-and-steal thefts. >> today's auto thieves are experts, and gone in 60 seconds or less. >> they will get a request for a car today, and they'll steal it tomorrow. >> the auto-theft industry today is responsible for more than $4 billion in losses just in the united states, and this global crime shows no signs of stopping. >> if it was a legal business, it would be one of the fortune 500 companies. >> i mean, everybody wants a nice car.