It’s no secret, college is expensive and paying for a student’s college education is no easy feat. Luckily, there are many different ways for parents to find money. It’s all about looking in the right places and starting the process early.

If a parent is planning on paying for their child’s education, Susan Marshall, State High Head Counselor, recommends the Pennsylvania 529 tuition account program. This is a program that allows parents to put any amount of money into an account, for any length of time, which can be used to pay for their child’s education. The program buys college credits at the current rate, saving parents thousands of dollars in inflation. It is an excellent way for parents with young children to begin saving for the future. Although, if a student decides they do not want to attend college, parents are only able to obtain a percentage of their money back from the account.

“It’s a really smart and great way to save,” said Susan.

Susan also mentions that bonds and savings accounts are reliable ways for parents to begin saving money for their child’s education. It is really important for parents to save what they can, no matter how small the amount may be. In the long run, every bit helps.

When it comes to finding the right school, there are many options that can be pursued. Parents are encouraged to find a school with a diverse setting that will meet their child’s specific needs. It is important to stay open-minded in this situation and allow for several different options. The more options, the more avenues there are to obtain financial aid.

“Don’t just stop short at the price tag,” said Susan.

If students have parents that are professors at Penn State, they have the option to attend the institution at a 75 percent discount. Penn state branch campuses are also an affordable option. There are 14 other state-funded institutions in Pennsylvania that offer lower tuitions. Students also have the option of attending a community college at a much lower cost. Some students even find that they benefit from taking a gap year to work full-time and save money.

Families are encouraged to apply to FAFSA, which opens October 1 of their child’s senior year. If taxes are filed on time the previous year, it is a relatively easy process that takes between 20 and 30 minutes.

Student loans are also an option when it comes to financial aid. In order for families to take this route, parents need to cosign the loan. If a parent is unable to take on this financial responsibility, loans are not a logical option for that student.

“It’s a family financial decision,” said Susan. “Since most students are financial dependents, they need someone to cosign.”

A prominent way that Susan says students receive financial aid is through scholarships. She says that students receiving athletic scholarships at State High are few and far between; and those are often for very little money. The scholarships that have a really dramatic impact are the academic scholarships. There are websites that notify students of the scholarships they are eligible for based on their demographic information.

“Students with good grades and GPAs are the ones mostly like to get a good scholarship,” she said.

Susan says that finding money for college requires a lot of time and effort. The process requires parents to do a lot of financial planning. Although it is time consuming, it is a necessary process that will benefit families in the long run when paying for a child’s college education.