If you have made the decision to help your child pay for college, you may be struggling to find the resources to make this happen. The cost of financing your child’s education depends on a number of variables including location of college, (in-state or out-of-state) type of college and financial aid awarded. Early planning can help alleviate the stress associated with paying for a college education. Parents can help their children with financial planning by learning as much as possible about available resources and developing a financial strategy.
Talk to your child about the costs of college and how he or she can participate in the planning process. It is important to take the time to research your options beforehand so that you can minimize the amount of student loan debt accrued during college.