The sunk cost effect occurs when you invest a large amount of time, money, and/or effort that will increase the likelihood of additional investment, whether or not there are negative consequences (Sofis, Jarmolowicz and Hudnall). Too many young adults take a big financial leap when they enroll in a 4-year university. Enrolling in a 4-year school costs significantly more than if you had started at a community college and transferred to a 4-year university or even if you went straight into the workforce (Pruett and Absher). Community colleges tend to have smaller classrooms and cost less than universities. It is therefore a serious option for many young people.