How To Pay For College

Skyrocketing tuition prices make paying for college difficult for all parents, but especially for single mothers. But just because you can't afford to pay every cent of your child's tuition up front, doesn't mean that they shouldn't go. There are many ways for your son or daughter to get a higher education without causing you to go broke. They will probably need to pitch in and help carry the burden, but that will make their college experience all the more rewarding.

Don't underestimate the power (or availability) of scholarship money. Scholarships are out there and your student doesn't even need to have a 4.0 to get one. There are many different types of scholarships, not just academic ones. Be sure to check FastWeb.com, Collegeboard.com, Wiredscholar.com, and ScholarshipCoach.com for a multitude of scholarship options. Have your son or daughter apply for as many scholarships as possible-and reapply each year. Students can receive scholarship money for every year they are in school.

Grants and student loans are another great way to pay for college. Be sure to have your potential student apply for every grant he/she can and then visit FAFSA (www.fafsa.ed.gov) to apply for financial aid. Check with a high-school counselor for more information or search "grants for college" on the internet. If grants won't cover the cost of tuition, student loans are a low-cost alternative or supplement. Student loans teach responsibility and give students a stake in their own education. Student loans are also manageable because they have low rates and are paid off over a long period of time. There are also student loans with low rates that parents can take out in their own names.

If your son or daughter wants to attend a four-year university, ask them to consider attending a more affordable community college for the first two years and then transferring. Most universities accept up to 64 transfer credits (or more), making it easy to get the core curriculum out of the way at a much cheaper price. Just be sure your student checks with both schools beforehand so they'll know what classes to take for their intended degree and what will and won't transfer over.

College isn't cheap-and paying for it isn't easy. But there are resources out there to help you send you child through school. You just have to know where to look and be willing to ask for help.