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Paying for your Child’s College Finances— Guide for Parents on Stu
dent Loan, Scholarship, and Grant
Let's suppose that you have a child who will be graduating soon from hi
gh school. Of course, you will feel happy, just like any proud parent w
ho have their children graduating from high school. It is one of the ch
allenges of life that you have successfully surpassed, despite of the f
inancial instabilities that you have probably experienced. It is time t
o celebrate, for you have fulfilled your responsibility of giving your
child a bright future.
But as many would say, a high school graduation is not the end. In fa
ct, it is just the beginning of tougher challenges that awaits you an
d your child in the succeeding years—college education.
At this point, you should start thinking about how you will finance th
e studies of your college-bound child. With the increasing cost of tui
tion fees, you need to plan ahead of time to avoid any misfortune, esp
ecially if you have experienced how to be financially-needing. You kno
w how hard it is to have both of your hands tied-up against the increa
sing cost of your child’s high school education before. The sooner you
start planning for the college education of your child, the less you
will encounter financially-related problems later on.
If you think you will be faced again with financial problems, it is imp
ortant that you know the different financial aid programs available for
your college-bound child. Continue reading and learn the financial aid
s to lean on to:
• Grants- it is the first type of college financial aid that you can
apply for. It simply requires you to complete a FAFSA (Free Application
for Federal Student Aid) form. Once the application has been sent, it
will be evaluated and if your child will qualify, he/she will be entitl
ed to the full amount of what he/she qualifies for. At this point, you
need not do anything much further except to provide the name of the col
lege or university your child wants to enroll to