Now would be a good time to start.

First I would have her meet with her high schol counselor and ask about any local scholarships she could apply for.

Also I would have her check with the school she is planning on attending, she may not know yet because her applications may not even be due yet, but it will give you a good idea of what to plan for. Check the college website for scholarships.

Next and if necessary. I would try scholarship search sites, such as fastweb.com, collegeboard.com, and scholarships.com. I haven’t heard of very many people winning these scholarships though.

As far as financial aid goes, she needs to apply as soon after January 1st as possible at the website fafsa.ed.gov. This is the general financial aid application for all schools.

In addition to that I would begin saving. There are costs that some colleges do not take into consideration, such as the cost of traveling, etc. I would also urge your daughter to get a part time job and save.

I work at a student loan company. The first thing you want to do is find out what school she is going to. Have her fill out the FAFSA (Free Application for Federal Student Aid) this is a free application the goverment offers you should never pay for this free service. The FAFSA will determine if she is eligible for federal grants and federal loans. Federal loans will have a lower interest rate than private student loans. After all grants, scholarships and other free money is used up the next best option is the perkins and stafford (federal loans). Right now for this academic year stafford loans have a fixed 6.8% interest rate (always look for borrower benefits, lenders will give interest rate reductions and cash back for selecting them that goes for stafford and parent plus loans). Parent plus loans are the next best option after the stafford and perkins (in the students name). The Parent Plus loan is in the parents name and the parent is responsible for the repayment and it is not defered while the student is in school unless you choose to use your deferment or forberence options (usually upto about 5 years of those). The PLUS loan has a fixed rate also of 8.5%. If you don’t want to take out a loan in your name the student can get a private student loan which is in the students name and normally begins repay 6 months after graduation. But the interest rate will be much higher usually Prime + (0%-6%). Always use the private loans as a last resort or pay them off as quick as possible. I’ve included links that might help. Also the loan and grant options may very from school to school. Sorry for typos I typed this up quick. Good Luck!

P.S also federal loans (stafford and PLUS) have 3% originations fees and 2% federal default fees but if you look around most lenders or guarantors will pay these fees for you.

Start saving 10 years ago. Maybe a few stocks that might split and make even more $$. At any rate in 10 years with good luck you might be able to send her to college.

You know, what is to keep her from paying her own way, with a little help from you. It will teach her some values of money and responsibilies, and discipline.

First of all, it is NEVER too early to start.

The earlier you apply for financial aid the more money is available to you.

Any local community college financial aid office can answer all of your questions but they are weary about giving information over the phone. So, it is probably best to just go in!

*Don’t forget to ask about a B.O.G. (Board of Governor’s) fee waiver….

It covers all of the class enrollment fees and is more readily available even if you don’t qualify for grants.

Also, remeber that you will need social security numbers and tax info from the previous year!

Good luck!

You need to go online in January and fill out a FASFA application. They will tell what if any aid you can expect. It is a secure federal site.