The sunk cost effect occurs when you invest a large amount of time, money, and/or effort that will increase the likelihood of further investments, regardless of whether there are negative consequences or not (Sofis, Jarmolowicz and Hudnall). Too many young adults take a financial plunge when they enroll in a 4-year university. Enrolling in a 4-year school costs much more than it would if you started at a community college and transferred to a 4-year university or even if you entered the workforce directly (Pruett and Absher). Community colleges tend to have smaller classrooms and tend to cost less than universities, so this is a serious option for many young people