Preparing for College - Planning for Your Child's Education
A question often posed is "How do we plan for our
childrens' education so they will have a choice of futures?".
Regardless of income, this issue is faced by almost every parent.
This piece of the "tour" focuses attention on early
planing by parents not only for the finances necessary
but also the academic preparation needed to ensure
that the children will have choice.
Ten Steps to Planning for Your Child's Education:
- Save money as early as possible to help pay for your childrens' education.
- Encourage your children to take classes in high school that will academically
prepare him or her for higher education.
- Discuss with your children their skills and interests, career options and
occupations, and what schools they are interested in attending.
- Meet with the high school guidance counselor to determine what schools
match your childrens' academic abilities.
- Gather information about the schools your children is interested in attending
including information on financial aid.
- Help your children apply for admission. To apply for financial aid, help your
children complete the Free Application for Federal Student Aid (FAFSA).
- Consider scholarships, grants, loans and work-study programs. Complete
any necessary applications or forms.
- Consider loans only after you have researched all the sources of free
financial aid.
- Consider the loan programs available to you and your children. Federal loan
programs include:
- Federal Family Education Loans
- Federal Direct Loans
- Federal Perkins Loans.
- Help your child to manage his or her student loan debt by deciding how
much you and your child can afford to borrow and repay.
See the Commission's
Financial Aid
page for additional resources.
Back to Introduction
|
Selecting A College Or University
|
Financial Planning
