Study financial aid award letters carefully. One school may meet all your financial aid needs through loans. Another college may only be able to meet part of your needs, but it can do so with grants. A calculator for comparing award letters can be found on the Nellie Mae site. Don't necessarily knock your kid's dream college off the list because of its eye-popping sticker price.
Many private schools have deep pockets when it comes to financial aid.
Let the kid choose a school by academics and then let's figure out how to pay for it. Experts urge families to choose a college based on a teen's academic interests and career plans, as well as a college's size and location. Look at costs last. So for now, your teen needs to narrow down his or her college choices and start applying for admissions. Don't forget to beat the bushes for sources of private aid, such as scholarships and grants.