nest joining us right now is personal finance expert and author of make your kid a money genius beth kobliner. how do you start this conversation before your kids head off the school? >> to be real, the kids are thinking about who is their roommate, are they in a good dorm and will they get the classes they want. you as a parent are stressing about do i get the extra long twin sheets to fit on the bedel but you have to talk about money. this is the first time your kid is on his or her own and it's important to get down to the basics >> what are the basics when it comes to money management for somebody in college? >> you have to start with the numbers. public colleges cost about $20,000 a year for tuition room and board for instate residents. private are $35,000 on average these are big numbers. you have to say to your child, looking we are making an investment in you, and we are really proud of you but we want you to get through college in four years 50% of kids don't get through in four years. >> 50%. >> yes, and that ends up being very expensive because you have to pay an extra year of tuit