After you've done some initial research add any special considerations, like price, distance from home, or religious affiliation, to your child's list of college options. Then, before you start ruling them out, get more information. Visit the colleges you've selected. Talk to the faculty. Weigh the pros and cons.
Most financial aid comes in the form of grants and scholarships or low-interest loans.
The federal government, states, colleges, and private organizations all sponsor student aid programs. Colleges will provide you with the forms you need to apply for most federal, state, and college aid, and are a great source of information about the various types of aid available. In addition, many books and websites are available to help you search and apply for private scholarships. In most cases, you will have to supply some information about your family's income and assets on financial aid application forms, so be sure to have your records ready. After you've received your financial aid award statements, it's very important to sit down with your child and make a realistic budget that includes both fixed expenses, such as tuition, room and board, and variable items, like clothing and transportation.