Then it's time to look into scholarships and loan possibilities. Next, take a practice run at filling out financial-aid forms. Be sure to indicate this is for an estimate only. That will give you some idea of how much aid you might get. There's only so much money to go around, and you want to be at the front of the financial-aid line.
Parents can take out a loan against their company retirement plans.
That's not a choice I recommend for most parents, because it can derail their retirement plans. But at least parents can pay themselves back over time, usually at a modest interest rate. And even though you can take out IRA money with no penalty for education costs, I'd try to avoid that too. You and your parents should all read it for further information on bridging the gap between current savings and the cost of college. Talk to Your Grandparents Show your grandparents just how much work you've put into planning for college.