When a little baby is first born, paying for college is
often the last thing on the parent’s mind. However, children do grow up. And,
there’s a good chance that, when they do, they’ll want to go off to college and
will look to you, the parent, for help. If and when that day comes, here are a
few things you need to know.
College is Definitely Worth It
One of the biggest things parents wonder is whether or not
college is actually worth the cost. The answer, in most cases, is a resounding
yes.
Recent studies conducted by Georgetown University show that
those who graduate from college will typically earn $1 million more in their
lifetimes than those who skip it.
Thus, if you want to give your child a great chance at
success, college is the way to do it. You have to pick a school you can afford
without going into too much debt, and your child has to choose a major with
care. But, if you can do those things right, you can set your son or daughter
on the path toward success.
The FAFSA is a Must
When your child is planning on going to college, all kinds
of forms are going to be put in your face. One that you absolutely have to fill
out is the FAFSA, which stands for Free Application for Federal Student Aid.
This form gives you access to federal money, outside
scholarships, loans, and grants that are available to you and can be a
wonderful tool for helping to pay for your child’s college education.
No matter how many other forms you may skip out on, don’t
overlook the FAFSA.
The advice presented here probably doesn’t answer all of the
many questions and concerns you have about college. However, it’s a great
start. To learn more and to get more help, contact a financial adviser who knows
the ins and outs of paying for college and can help you to set up a solid plan
for helping your child achieve his or her dreams.
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