Plan Ahead to Pay for College

Preparing for college is not just about grades. 

The first step to being able to afford your college of choice is to speak with your parents.  What do they think they will spend?  If they can afford to provide you with many choices, consider yourself very lucky.  The average top 50 university can cost over $30,000 a year, and that’s without dorm costs.

Your parents will need to provide their income tax information for your federal financial aid packages to be processed at any college until you are 25 years old.  Even if they do not claim you on their taxes as a dependent, you will need to make them understand that their income tax information is essential for you to attend college in The United States.  If they’re in the habit of doing taxes late, or not doing them at all, warn and guilt them into breaking that habit. 

Aside from your income tax, you will need to set aside a few hundred dollars to apply to the numerous colleges you’d like to try for admissions—most college applications are non-refundable and cost about $50 each.  Why?  Most colleges need to fully process grades and assess plenty of paperwork before making a decision about your acceptance.  Don’t sit there and wait to hear from a college.  If you miss a deadline, if you’re late to apply, you’ll miss out on the generosity of the government and institution.  Research early and you won’t miss out!

Visit www.fafsa.gov for information on the financial aid process. 

The sooner you get all of the information you need, the sooner you will be fully prepared to understand what your realistic choices for college are.  If you wait and delay, you may end up being forced into a college experience you do not want.