Financial Aid and Scholarships
Did you know that annual cost of tuition and board at private US college can cost as much as $50,000? That's why college budget planning is among the biggest financial projects a family can undertake.
Today, most families either save money beforehand (some even start saving while their children are still babies) or opt for financial aid ie loans that you pay back after your child graduates.
Basically, there are a couple of financial aid options that you can choose to make paying for college more manageable: scholarships, need and merit based awards, Federal work-study (FWS) and student loans.