For example, after financial aid is taken into consideration, a private college can be about the same price as a public institution. Without that information, one might eliminate some private colleges because of an incorrect understanding of the price. Meeting all the requirements of applying for college is a good lesson in itself, but most students will require some help. Setting up a calendar with all the various tasks and deadlines can be very helpful for both you and your child. Learn all you can about financial aid and assist your child in filling out the application forms.
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 those records assembled. 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 and books, and variable items such as rent, clothing, and transportation.