"It sets expectations that might lead people to think they can afford something they can't, " says Robert Weinerman, senior director of college finance at College Coach, an admissions-consulting firm based in Watertown, Mass.

WSJ: The New College-Cost Calculators: Are They Accurate?

Also with us is our regular money coach and personal finance expert, Alvin Hall.

NPR: Lehman Brothers, Merrill Lynch: What Does It All Mean?

Our money coach, personal finance expert Alvin Hall, joined us from our New York bureau.

NPR: Lehman Brothers, Merrill Lynch: What Does It All Mean?