Planning for Your Child's Education
Save Money
Save money as early as possible to help pay for your child's education. The
Coverdell Education Savings Accounts
and
529 college
savings plans allow you to deposit money into special savings accounts in
which the funds accumulate tax-free.
To get a grasp of how much you should save,
check out our
Savings Calculator.
Encourage Your Child
Encourage your child to make high school count so that he or she can prepare
academically for higher education.
Talk to Your Child
Discuss with your child his or her skills and interests, career options, and
schools he or she is interested in attending.
Meet With the Counselor
Meet with the high school guidance counselor to determine what schools match
your child's academic abilities.
Gather Information
Gather information about the schools your child is interested in attending,
including information on financial aid. Review the
junior year tips and follow the
senior year calendar to help
your child prepare for admissions and financial aid.
Help Your Child
Help your child apply for admission. To apply for financial aid, help him or her
complete the Free Application
for Federal Student Aid (FAFSA), which can be done online.
Consider Financial Aid Options
Consider scholarships, grants, and work-study programs. SLGFA provides
helpful links to get you started on the
search. With so much free help available, be wary of any service or website that
attempts to charge you.
Consider Loans
Consider the loan programs available to you and your child. Take a step in
understanding Federal student loans, so you don't have
to be leery of looking at student loans. Loans can be a great option to help
cover the gap between scholarships and grants and the cost of admissions.
Learn More
Learn more about tax credits, deductions, and other considerations for education
expenses.
Manage Debt
Help manage student loan debt by deciding how much you and your child can afford
to borrow and repay by using the
Loan Repayment Calculator or
Debt/Salary Wizard.