Your Finances: Community colleges in crisis

Community colleges, and their students, are paying a heavy price for popularity.

Community colleges are currently home to more than 13 million students across the country, with enrollment that skyrocketed 22 percent between 2007 and 2011.

It is no wonder why. The average annual bill for a local community college is a relatively affordable $2,963, according to the College Board. Public four-year colleges average $8,244 a year for in-state students, and private universities now average $28,500. In an era when total student debt has surpassed $1 trillion, a cheaper educational option is a natural winner.

But a perfect storm of factors is making community colleges less than an automatic choice.

"It stands to reason that if you have X capacity, and your enrollment increases by 20 percent, you're going to have issues," said Norma Kent, senior vice president of the American Association of Community Colleges in Washington, D.C. "Then you also have sustained decreases in state funding."

What's more, state colleges that often receive transfers from community colleges are facing significant problems of their own, and having their own budgets gutted means that they cannot be so magnanimous about taking in every transfer student who comes their way.

Here are a handful of ways to maximize your community college experience, while sidestepping the pitfalls of a system in crisis.