College Countdown
College Countdown
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Parent's Corner -- College Bill Woes
(Click on the headings) OUTSIDE PAYMENTS FOR A STUDENT
Start planning for college early, the earlier the better. Start saving as early as possible. If there are other members of the family (such as grandparents) who have expressed an interest in financially helping with college expenses, follow up on those ideas early. Grandparents can contribute to a state-sponsored 529 plan on behalf of a student. Grandparents can also make tuition payments directly to a college on behalf of the student without jeopardizing the annual limitations on individual gifts. Teach your children about making responsible financial decisions and record-keeping. Teach the benefits and dangers of credit cards and the importance of keeping a good credit rating. Scrutinize the Bursar's bill closely. Even colleges can make mistakes. Every year, financial aid has to be reapplied for. You must fill out the FAFSA (at least) three more times after your teen has been accepted to college. Some scholarships, loans and grants must be reapplied for or renewed. These later deadlines are just as important as those of the high school senior year.
© 2005 [Wildwood Country Press]. All rights reserved.
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