The findings? In 18 years, the average sticker price for a private university could be as much as $130,428 a year (See chart.) The situation isn’t much better if you go the public route. Sending your child to a state university could set you back at least $41,228 a year.

Seuk Kim knows what he’s up against. He has three kids under the age of three.

“I am very concerned. I make a decent living to provide for my family, but we are a one income household,” said Kim. “We will likely have to rely on some financial aid or hope they can qualify for a scholarship. I would hate for them to have to take out a huge loan in order to pay for their education like I did.”

He calculates he’d have to save about $3,300 per month if he sends his children to the University of Virginia located near his home. It’s a figure Kim says he can’t afford.

Kim adds, “The kids are the greatest thing that’s ever happened to me, but they are one of the worst things that happened to my retirement plan… Now that I’ve experienced a double whammy of the bear market and having to split my savings up four ways, I’m not sure I’ll ever be able to retire.”