As parents and their children approach the discussions about college, it’s important that they don’t gloss over the tough parts of those conversations. For example, the cost of college tuition and room and board. If you plan to help your college-bound student with college expenses, be up front with him or her about how much money you plan to contribute to education. Similarly, if you or another relative (such as your child’s grandparents) set aside funds in a 529 plan or a trust, or otherwise have assets earmarked to help pay for college, let your child know what to expect from those sources too. You should also discuss other potential federal, state and institution-specific financial aid options, including potential grants, scholarships and loans. If the total cost of attendance at a school your child wants to attend exceeds the amount you/other family members plan to contribute, talk about the shortfall amount and ways your child could still make attending that school a reality. Hoping to have those conversations go over easier? Be sure to check out the resource coupled alongside this post for more helpful information.
The Parent-Student Relationship In College Searches for more information on the college search process, be sure to check out the Encourage App