College Admission Help

College Costs Are Rising. Do You Have Advice on How To Get College Grants or College Scholarships?

Indianapolis Star
February 22, 2009
The prospect of paying for a college education for yourself or your children is a daunting consideration. Continually rising costs mean people should carefully research grants and scholarships and consider saving money in a tax-free savings plan, such as the Indiana 529 College Choice Savings Plan.
It is a fact that the cost of sending your child to college is rising at a greater rate than other things. Many wonder what to do. This question can be answered by looking at what stage of life your future college student now is in.
If you have a young child, begin by putting money into a college savings plan. This money will grow tax-free, and as long as the money is used for qualified college expenses, it will come out tax-free, too.
Assist your child with schoolwork, when needed, to help him or her earn good grades, and consult with school counselors to learn about available grants and scholarships.
If you have a child in high school right now ,and your savings are not going to cover the cost of college, there are many programs that might be of benefit to you. First and foremost, it is advisable to always complete the Free Application for Federal Student Aid form by March 10. Without this form being filed on time, a student will not be eligible for state or federal student aid. Additionally, there are many loan programs that might be of assistance. These programs include:
Perkins Loan, for low-income students.
Stafford Loan, for dependent undergraduates with a $5,500 yearly maximum.
Parent Plus Loan, which has higher borrowing limits; however, parents need to pass a credit check.
Many programs can help with the rising costs of higher education. The key is to start planning early, get involved and get informed. Advice from a financial adviser can assist in this planning.

College Costs Are Rising. Do You Have Advice on How To Get College Grants or College Scholarships?