Soaring college costs are making headlines almost daily, it seems, and a Reuters piece begins with the heart-wrenching story of a 22-year old so overburdened with tuition that she must borrow textbooks from friends.

There is a lot of work to be done on the policy side to make it easier for kids to afford college. According to the piece, "The average student at public universities get $3,600 in grants and tax benefits; at private universities, $9,300, according to the College Board."

Here's a question: If a student can afford the tuition at a private college ($23,712 compared to $6,185 for a public school, assuming no grants), should we even provide those students with tax credits? I would argue that, in order to qualify for tax credits, college students should have to demonstrate that they are choosing a value-oriented school. Just as Fannie Mae and Freddie Mac won't get involved with mortgages over $417,000, Uncle Sam shouldn't dole out tax credits to students who can spend $40,000 a year on college.

Another way that students can save money: Doing the first two years at a community college. My local community college advertises the cost savings associated with this approach.

Do we need government policy changes to make it easier for students to afford college? Probably. But more of an emphasis needs to be placed on the responsibility of students and their parents to take steps to control the cost of college for themselves.