Presidential hopefuls are talking a lot about the high cost of college these days. A few are even sharing their family's own experience paying for college. Intrigued, I reached out to all of the candidates with children over age 18 to find out how they've handled higher education costs. Some got back to me, many didn't. The ones who opened up serve as good examples of the myriad of ways families pay for school.

When it came to paying for college, it was a family affair in Bernie Sanders' household. The Democratic candidate took on a share of the costs, but so did each of his four children: Levi, Heather, Carina and David.

Each of his children, now ages 39 to 46, took out student loans and worked during school, breaks and summer vacations, according to campaign aide Michael Briggs. David, for instance, worked at Burton Snowboards throughout his time at the University of Vermont, while Carina was a resident adviser at the University of Montana.

To help out, Sanders and his wife, Jane, took out federal parent loans and personal loans, contributing about $10,000 for each child per year. The parents were able to repay all of the loans about 10 years ago, Briggs said.

In many ways, the Sanders are like many families. Parents across the country largely share the cost of college with their children by borrowing, dipping into savings or using earnings to pay the bills, according to a recent analysis by the College Board. Yet the meteoric rise in the cost of college has placed a financial burden on families that has become difficult to overcome.

Sanders' children, who attended public colleges between 1987 and 2000, largely escaped the dramatic price increases witnessed in the last 15 years, during which time the cost of attending a state school has gone up by 124 percent at four-year institutions, according to the College Board. The average sticker price at those schools now hovers around $18,943 for a year of tuition, fees, room and board. Even when you factor in scholarships and grants, the average cost is still $12,830 a year.

The cost of college has outpaced the rate of inflation and wages, leading more families, particularly students, to borrow money to cover the expense. Although a recent study by Sallie Mae found parents using more of their earnings to pay for college this year, students still shoulder most of the responsibility of paying for college and do so by taking out loans.

Working a part-time job, as Sanders' kids did, is still a good way to earn money to pay for school, but those dollars will only go so far at most four-year colleges. Public universities used to be more affordable because of the financial support of state legislatures. But when states cut their higher education budgets during the last two economic recessions, schools raised tuition to offset the loss of funding. Many states are reinvesting in higher education, but not at pre-recession levels.

Like many leaders on the left, Sanders has thrown support behind creating a federal program to encourage states to increase their investment in higher education. The independent senator from Vermont wants to eliminate undergraduate tuition at public college and expand work-study programs to help students at private universities.

States under Sanders' plan would have to put up $1 for every $2 the federal government ponies up, shifting more of the cost of public higher education to Washington. The federal share of the expense would be offset by imposing a tax on transactions by hedge funds, investment houses and other Wall Street firms. To qualify for federal funding, states would need to maintain spending on their higher education systems, academic instruction and need-based financial aid.

