Ways to Beat the High Costs of College

One of the most important things to remember about saving money for college is to start early. Usually this is easier said than done. If you’re starting out early and saving for college, there are great investments you can make.

Another tip to remember is to start your scholarship search early and make sure your child keeps their grades up through high school and college. Scholarships can add up and can save you a lot of money in the long run! Don’t trust the college or university to give you free money. Go out and find it! And if you’re a last-minute decision maker, ask the financial aid office what scholarships are available for new students and past freshmen! Remember – planning is key and shouldn’t stop once your child is in school!

My top tips for paying for college:

1. Use academic and high school activities. These activities may lead to scholarships or recommendations. Personal references are critical for scholarships and college applications!

2. Find a school that matches your style. Do you get what you pay for? Take the time to find out where your money is going.

3. Complete the required standardized tests. Did someone say SAT/ACT? Preparation courses are beneficial. Use all the preparation materials so your child can choose the school of her choice. Not the other way.

4. Make sure you are familiar with the college application process. College applications cost money, and guess what: they take a lot of time! Please take the time to understand and become familiar with the documents and forms your child is completing.

5. Look for scholarships EARLY. Scholarship money is not awarded overnight! It takes time to complete the application, so it will take time to find out who will win the money.

6. Beware of SCAMS! You should NEVER have to pay for a scholarship search, and you should NEVER have to pay for the FAFSA! Hey, it’s not called the FREE Application for Federal Student Aid for nothing!

7. Understand college expenses. What is the “student fee”? Ask questions and what exactly fees and costs are being paid or covered.

8. Research your eligibility for financial aid. Never walk into a financial aid office without knowing what grants and loans you may be eligible for. Filing your taxes early and researching federal loan amounts will help.

9. Complete the FAFSA as soon as possible each year. Some grants run out at schools, so the sooner the FAFSA is completed, the better!

10. Explore federal loans for students and parents. Clean credit is the best credit, and a parent loan can be deferred! Make sure your credit is approved so you can use the PLUS loan to cover additional costs.

Follow these steps and you’ll be on your way to a great school, great education, all while saving money!