Parents play a key role in helping their children make smart decisions about important things in their lives. And that certainly applies to the ones they make about going to college. Besides getting the saving-for-college process started early, parents can help by reinforcing the importance of making smart borrowing choices today that will impact their children's future. Parents can also help by becoming cosigners Cosigner/Co-borrower - An additional applicant added to a loan to meet the creditworthiness guidelines, usually a parent but not always. A cosigner will have the same legal responsibility on the loan as the primary borrower. for their children's loan. Parents with a good credit rating may not only improve the chances of the loan's approval, but they could also lower the rate.
Talking to your Teen
Advice for connecting with and staying connected to teens as you talk through decisions about college.
Hidden Costs of a College Education
Details some unforeseen expenses that can boost the tab, and why it's important to talk with your child now about these hidden costs.
Financial Literacy for Parents and Students
This brochure from College Parents of America gives parents advice on how to begin to talk about financial matters such as budgeting, paying bills and managing accounts with their children.
Funding Education Beyond High School: The Guide to Federal Student Aid 2011-2012
A comprehensive guide from the Department of Education with all the information about major Federal Student Aid programs in one printable brochure for easy reference.
Related Links
- An introduction to 529 plans
- 529 college savings plans and links to most state’s plans
- 529 College Savings Plans: Tax-free Saving for a College Education--at today's tuition rates
- Reviews of different education saving plans
- 529 Performance Rankings
- Saving for College: 529 Plans and Coverdell ESAs
- Coverdell Education Savings
Accounts - Coverdell, Custodial, or 529? How to Choose