Tips for Making College Affordable

At some point between changing the 300th diaper and pinning that kindergarten art masterpiece on the fridge, many parents begin to wonder if their miniature Picasso will one day be jetting off to college. Panic can set in. After all, college is hugely expensive, right? If you do your homework, you’ll find that college can be affordable.
The following tips will help you and your family prepare to send your children to college or even affordably return yourself.

Tip 1

That first diaper is your signal to start preparing to send your child to college. Consider opening either a 529 college savings plan or an education savings account, referred to in the business as an ESA. These investment options can offer tax and financial aid benefits and provide you or family members with an easy way to put money away for college expenses. Talk to a financial planner or tax consultant about the specifics, and for any help you may need setting one up.

Tip 2

Fill out the FAFSA (Free Application for Federal Student Aid). You might think you won’t qualify. Fill it out anyway! Many scholarships and grants, loans and work-study programs require the FAFSA as part of their application process. These days it’s easier than ever to complete the application. There’s lots of help available, and it should only take about 20 minutes of your time.

The FAFSA opens on the first day of October every year. Apply early to maximize your financial aid for the next academic year you plan to attend. The earlier you file, the more grant money you are likely to receive so don’t delay! Need help? Talk to the pros at College Options. They offer free assistance on navigating the FAFSA and help with financial aid award offers.

Tip 3

When your son or daughter is in their sophomore or junior year in high school, investigate having them take college courses at the local community college. For most high school students attending community college is tuition-free!

Tip 4

Take advantage of your local community college. Community colleges offer a wealth of certificates and programs that will prepare students quickly for in-demand jobs like nursing, dental hygiene, engineering, firefighting, business administration and many others.

Community college can also help students transfer to a university without wasting time and money discovering that finger painting isn’t the profession they want to pursue.
If you’re a parent looking to increase your earning potential, community college also makes perfect sense. Some colleges, like Shasta College in Redding, CA, have devised programs specifically for working adults and parents. The ACE program at Shasta College is designed to fit into a busy lifestyle by offering night and compressed classes. Dedicated counselors walk students through the program every step of the way.

Tip 5

Our final tip is how to get your first two years of college tuition-free. Right now, Shasta College in Redding is offering two years tuition-free through the Shasta College Promise program. Check on eligibility, but generally, if you are a first-time and full-time student, you get the first two years free. Full-time is considered 12 units or more, but you’ll want to take 15 units each semester to get through in those two years and graduate on time. You can also take a couple of classes in summer session.

For parents considering returning to college, talk to a counselor who will help with an education plan for the quickest way to achieve your goals. Not sure what you want to do, or it’s been a while since you sat in a classroom? There are career planning and college prep classes that will help you with study habits and researching the types of careers you would find most appealing.

Paying for a college degree, whether for our children or as a returning parent, can seem like a daunting, even impossible hurdle to overcome—kind of like potty training. But the more you educate yourself, prepare and take advantage of available options, the closer you come to the day you will be cheering for your child as he moves that tassel from left to right at graduation.