2007-10-07 13:46:19 · 6 answers · asked by summer 4 in Education & Reference ➔ Financial Aid
If you are in th USA, as a guardian/parent you should fill out the famous FAFSA (Free Application for Student Assistance), to see exactly where you stand regarding your EFC (expected family contribution) toward your student's education. If your income is average, the calculation by the FAFSA equations (automatic) might surprise you by showing a lower EFC than you figured. I don't have the FAFSA web address but a search in the block at the top of this page will probably find many questions such as yours with answers better than mine as well as the web address for the FAFSA . Otherwise google it. College starts coming into reach at that point. Now after that EFC amount is calculated, you have the rough financial picture. Now you have two broad categories of help to explore - need based and merit based. If you've got a scholar, individual colleges are likely looking for your kid and have college-specific merit scholarships available. But you must apply, seriously apply, in a timely manner. If you do well in the scholarship screening, college has an excellent chance of happening without putting you in the poorhouse. Email if you like.
2007-10-07 15:54:23 · answer #1 · answered by Madmunk 6 · 1⤊ 0⤋
They start saving for college in advance if they can and have enough time. You have enough time to start saving for your child's education since your child is two years old (read some of your previous questions). The federal and a number of state governments allow you to contribute to 529 plans tax free and allow for free distributions towards school. I recommend putting aside at least the plan minimum each month into an account in your name, husband's name, or both names. Some plans allow as little as $25 to start participating in one. In addition, I recommend placing some of the birthday, holiday, and gift monies toward the college education. I will include some free readings on the subject below.
2007-10-07 21:14:55 · answer #2 · answered by dawncs 7 · 0⤊ 0⤋
Student financial aid.....their are grants, subsidizes/unsubsidized loans and grad plus loans (for graduate school). It is free for anyone to fill out FAFSA. They will tell your child if they are eligible for grants, loans or a combination of both. There are also tons of scholarships that go unused every year...I would check into that. Also, if you have more than one child in college, it actually helps.
2007-10-07 21:10:54 · answer #3 · answered by klm 2 · 0⤊ 0⤋
You and your kids (if they are approaching college) should look around the net for scholarships. websites like www.fastweb.com have tens of thousands of websites available, and can help you find the right ones for your kids.
It's sometimes a tough process. But colleges offer payment plans and scholarships can dramatically decrease the burden.
2007-10-07 20:52:43 · answer #4 · answered by simplesimon1111 2 · 0⤊ 0⤋
Maybe by availing credit? Apply for scholarship? Enroll them in a public or government subsidized school? Work harder and if possible get a second or even third job?
2007-10-07 20:55:03 · answer #5 · answered by jsc_ny 2 · 0⤊ 0⤋
Scholarships, grants, and low interest loans.
2007-10-07 20:53:41 · answer #6 · answered by animalover 4 · 0⤊ 0⤋