College on a Dime: When picking a college, people don't think

AOL Money & Finance writer and editor Zac Bissonnette is a sophomore at the University of Massachusetts Amherst, and an expert on getting a great education without going broke.

When it comes to picking a college, people don't pay much attention to the costs.

That's the outcome of a new study commissioned by Fannie Mae. Some nuggets: 40% of families don't limit their college search based on costs and middle-class families are pretty much just as likely to splurge for a pricey private college as wealthy ones (20% vs. 22%).

Commenting on the study, financial planner Fredrick Adkins told The Associated Press that picking a college is largely an emotional decision but that "At some point, if it's going to totally put a family's finances in jeopardy, rationality needs to factor in."