News for Parents
If you're the parent of a student, you'll want to visit these pages:
Step One: Create a Savings Plan
Step Two: College Approaches
- Your greatest asset is time. The sooner you start saving for your children's college education, the more time you will have for your savings to grow.
- Start by figuring out how much your children's education will cost with the College Cost Projector.
- Use the Savings Plan Designer to determine how much you need to save on a regular basis to reach your savings goals.
- Consider Prepaid Tuition Plans and Tax Credits as possible savings vehicles.
Step Three: Apply for Financial Aid
- Determine how much aid your child will need and how much your family will be expected to contribute with the Financial Aid Estimation Calculator. Maximize your eligibility for financial aid with tips like reducing your savings account by paying off credit card debt.
- Encourage your child to search for Scholarships. It takes only a few minutes and it's free.
- Your child won't be able to pay for college entirely on his or her own. Low cost Parent Loans provide education financing that can help you manage your cash flow.
- Private Loans can provide additional money.
Step Four: Still Have Questions?
- Apply for financial aid every year, even if you think you won't get any. More than two-thirds of families qualify for financial aid.
- Apply by submitting the Free Application for Federal Student Aid (FAFSA).
- It is best to review your finances with your child. But if you want to keep the information private, rest assured that the school will not reveal the information you submit on the FAFSA to your child (or any other third party) without your permission.
- Confused by all the terminology? See the glossary.
- Still have unanswered questions? Read the FAQ, a collection of answers to frequently asked questions.
- If you can't find an answer there, Ask the Aid Advisor lets you submit questions to financial aid professionals across the country.
- If you need money for private secondary school tuition, don't miss the section on Financial Aid for Private High Schools.
- Go to www.finaid.org for even more information.